Not so long ago, the gold standard for beauty brands was to deliver a great product. In 2020 though, brands are expected to go much further and that is to stand for something way beyond their products.
Consumers are more aware of what they buy and beauty brands must prove that there is a reason for their existence – one that contributes in some way positively to the environment, society, and to support individual expression.
Taiwan Excellence realises this importance and recently hosted a 90-minute webinar called ‘Beauty & Masks – Taiwan Excellence Online Product Launch’ which shared beauty trends that are environmentally friendly, high-tech, and customisable. The event was jointly held by TAITRA, the foremost trade promotion body in Taiwan, and the Bureau of Foreign Trade, Ministry of Economic Affairs.
In recent years, Taiwan’s beauty industry has become a rising star for global domination. From the humble beginnings of a single sheet of facial mask, this industry has risen to the forefront of Taiwan as it’s generating over RM3 billion in business opportunities. Let me just repeat that again – RM3 BILLION!
Over the past few years, the average export growth rate of this industry has exceeded 13% which is higher than Taiwan’s total export growth rate.
While the global retail industry is experiencing great difficulties caused by the raging COVID-19 pandemic, the beauty industry is having great potential in business. According to Mr Walter M. S. Yeh, President and CEO of TAITRA, “The market was worth more than USD $297 billion and will exhibit a compound annual growth rate of 5.1% during the forecast period”.
From sustainable haircare, unique face masks and even beauty artificial-intelligence, the livestream, which was held on Wednesday, saw five major brands – ShaanHonq, O’right, Shiny Brands, Perfect Mobile, and Annie’s Way, explaining and demo-ing their top-selling products. It also showed how big of an impact these brands are making internationally in the beauty industry.
Watch it here:
These five brands are all winners of the Taiwan Excellence Award and have demonstrated excellence in 4 areas – R&D, design, quality, and marketing. In other words, they are the best innovations Taiwan has to offer for the beauty industry.
During the live webinar, the five brands demonstrated their innovative products which help improve and beautify people’s daily lives. Some brands are widely used by Hollywood celebrities, partnered with famous salons or renowned skincare teams in Korea. The event also covered how the brands passed global standards and HALAL or BPOM certifications, which are essential for entering the Southeast Asian markets.
With over 3,000 views online from countries including Malaysia, India, Indonesia, the Philippines, Singapore, Thailand. More events focusing on medical products, including eye care, assistance devices for the elderly, and dentistry, will be held soon through Taiwan Excellence YouTube channel.
Check out their website for more information.