High value and quality shapes APAC’s beauty consumers preference

High quality and tailored products are also highly valued in the region.

Value for money is the top attribute for beauty product consumers in the Asia-Pacific (APAC) region, particularly evident in countries such as China, Thailand, Indonesia, and Australia, according to Euromonitor International's "Voice of the Consumer: Beauty Survey 2023.”

Yang Hu, Insights Manager for Health and Beauty Asia at Euromonitor International, explained the significance of value for money in the APAC region. "Value for money is selected as the top desired feature in most of APAC countries," said Hu. "However, it is important to note that while it is a top priority, it is not always the number one feature, as other regions might prioritise it differently."

Hu highlighted a crucial distinction in consumer preferences between APAC and other regions. "In APAC, except Australia, value for money is ranked as the second or third desired feature for skincare products, not the first one," Hu noted. "Instead, other features like functions and benefits suited for my skin type, high quality, and suitability for sensitive skin are selected as the first desired features in skincare products globally before value for money."

The survey reveals that APAC consumers seek more from their beauty products than just affordability. High quality and products tailored to individual features, such as skin type and hair type, are among the top three attributes consumers look for. 

"High quality is most selected in countries like India and Thailand, with over 30% of beauty consumers in those two markets desiring high quality products in skincare products," stated Hu. "For the option of 'suited to or positioned to my skin type,' it is selected as the first desired feature in countries like Indonesia, Thailand, Japan, and South Korea. In those three countries, over 35% of beauty consumers desire this feature as their top selected feature in skincare products."

For brands aiming for sustainable growth in the APAC market, understanding these consumer priorities is essential. Hu advises that brands should not equate value for money with lower-priced products. Instead, they should focus on enhancing the perceived value of their products.

Euromonitor's research suggests that there are four key values beauty products can provide to consumers from a holistic perspective: functionality and quality, wellness, aesthetic experience, and social recognition. These factors play a significant role in consumer decision-making and brand loyalty.