A small magnetic false eyelashes, "warping" a large market of 100 million yuan.
The beauty economy is rising rapidly, and a series of consumer markets around "appearance" are also taking advantage of the wind. If eye makeup is the top priority of every beauty lover's makeup, then eyelashes are the most critical finishing touch.
In 2023, the market size of false eyelashes on Taobao, Tmall, and Douyin platforms will reach 2.84 billion yuan, a year-on-year increase of 111.5%, and the discussion volume of false eyelashes will also continue to grow, with a volume of 1.394 million in 2023, a year-on-year increase of 88.1%.
Under the trend of rapid growth of the false eyelash market, the wearing of false eyelashes has always been a pain point for many handicapped parties, but the fledgling emerging category - magnetic false eyelashes has gained insight into this user pain point, changed the traditional and difficult way of wearing, and caught up with a sales growth rate of 943.3%.
What is the sales of false eyelashes in the market? What about the growth of magnetic false eyelashes? How to differentiate magnetic false eyelashes? What is the brand landscape of magnetic false eyelashes? What are the other growth opportunities under the segment of false eyelashes?
In order to answer the above questions, Leadjin conducted an in-depth analysis and research on the false eyelash market and magnetic false eyelash market of Taobao, Tmall and Douyin, and the following is an overview of the conclusions:
1. Basic disk: In 2023, the market size of false eyelashes on Taobao, Tmall, and Douyin platforms will be as high as 2.84 billion yuan, and it is expected that the market volume will still have some room for growth in 2024. Douyin is the main online platform for the false eyelash market, accounting for 62% of the market.
2. Category pattern: Magnetic false eyelashes and glue-free false eyelashes are high-growth categories in the market, and the growth rate of the magnetic false eyelashes market will be as high as 943.3% in 2023.
3. Brand pattern: Yuetong brand is a dominant brand in the magnetic false eyelash market, with a brand market share of up to 89.9%, and a market share of less than 0.5% in the middle and tail brands.
4. Product opportunities: Product style and style are the core concerns of consumers, and the wearing feeling and picking comfort still do not meet consumer expectations, and brands still need to optimize their design in this regard.
01 Basic disk: Online continues to grow rapidly, Douyin plate is large, and the growth rate is fast
Let's take a look at the market landscape of false eyelashes first.
In 2023, the sales of false eyelashes on Taobao, Tmall, and Douyin platforms will reach 2.84 billion yuan, and the 618 and Double 11 promotion activities in 23 will further promote the market sales high, and the market volume is expected to grow further in 2024.
From 2022 to 2023, the overall sales trend of the false eyelash market on Taobao and Tmall Douyin platforms
As far as e-commerce platforms are concerned, this category has the largest volume in Douyin, with sales of 1.77 billion yuan, accounting for 62%, and the wearing effect of false eyelashes is the main factor driving consumer purchases.
From the perspective of the average price of the platform, the average price of Taobao, which is dominated by individual C stores, is the lowest, only 19.4 yuan. The average prices of Douyin and Tmall platforms are relatively close, at 29.2 yuan and 33.0 yuan respectively.
The sales proportion and average price of false eyelash products on Taobao, Tmall, and Douyin in 2023
02 Category pattern: magnetic eyelashes have a bright growth rate, and glue-free eyelashes are a rising star
The volume of the false eyelash category is not only reflected in the style design, but also in the way it is worn.
According to the wearing style, the false eyelash category is further subdivided, which can be divided into ordinary false eyelashes, magnetic false eyelashes, and glue-free false eyelashes. The sales of ordinary false eyelashes reached 1.91 billion yuan, with a year-on-year growth rate of 68.8%.
Since 2022, the average monthly sales of glue-free false eyelashes have fluctuated in the range of 13 million to 18 million. Under the promotion of various brands and bloggers on social media platforms, glue-free false eyelashes have ushered in explosive growth since August 2023, and the sales of glue-free false eyelashes in 2023 will reach 370 million yuan.
The sales scale of magnetic false eyelashes reached 600 million yuan, with a high growth rate of 943.3%. This category subverts the traditional way of wearing false eyelashes, without glue, only the upper and lower magnets need to be adsorbed to complete the wearing, which is convenient and simple to operate to meet the needs of consumers and also brings a large premium space for this category.
In 2023, the sales scale and growth rate of false eyelash market segments on Taobao, Tmall, and Douyin platforms
Next, we will focus on the fastest growing magnetic false eyelashes market.
In the first half of 2022, the magnetic false eyelashes have not yet opened the market, and the average monthly sales fluctuate around 500,000 yuan. In May 22, Yuetong brand officially announced Bailu as the brand spokesperson, and under the influence of star effect, the exposure of magnetic false eyelashes also increased.
In 2023, magnetic false eyelashes ushered in an inflection point in growth, and with the synergy of spokesperson effect, brand marketing, social media promotion and other aspects, the sales of this category in 2023 will show an exponential growth trend.
2022-2023 sales trend of magnetic false eyelashes on Taobao, Tmall, and Douyin platforms
03 Brand pattern: Yuetong is outstanding, and the middle and tail brands are difficult to get ahead
Next, let's look at the brand pattern of the magnetic false eyelash market.
The Yuetong brand, which started with magnetic false eyelashes, is a unique brand, and has successfully left the public with the brand awareness of "category = brand". In 2023, the sales volume of the magnetic false eyelash Yue Tong brand will reach 540 million yuan, accounting for 89.9% of the magnetic false eyelash market.
From 2022 to 2023, the sales trend of Yuetong brand in the magnetic false eyelash market on Taobao, Tmall, and Douyin platforms
In 2022, the brand will open up brand awareness with its spokesperson Bailu, and continuously update and optimize its products based on consumer feedback. At the beginning of 2023, with the continuous promotion of many style choices, beauty bloggers, amateurs and KOCs, the sales scale of the brand will continue to rise.
On the other hand, other brands in the magnetic false eyelash market are currently dominated by emerging brands and white labels, with a market share of less than 0.5%, and the product similarity is relatively high. The average price of the brand fluctuates in the range of 50 yuan to 120 yuan, which is much lower than the average product price of 156.3 yuan of the Yuetong brand.
In 2023, the market share distribution of the top 5 brands in the magnetic false eyelash market on Taobao, Tmall, and Douyin platforms
On the whole, the magnetic false eyelash market is currently dominated by the Yuetong brand, and small and medium-sized brands are trying to seize market share by "replacement". However, Yuetong has left a strong category awareness in the minds of consumers, and it is difficult for other brands to compete in the market.
04Product opportunity: Style is the core concern of consumers, and the wearing feeling still needs to be optimized
From the evaluation dimension, let's take a look at consumers' feedback on the use of magnetic false eyelashes.
In 2023, the total number of reviews of magnetic false eyelash products by Tmall consumers will be 3w+, and the five dimensions that consumers are most concerned about are style, scene, crowd, wearing feeling, and craftsmanship.
2023 Tmall platform magnetic false eyelashes consumer feedback
Consumers have the most feedback on the product style, and the wearing effect of false eyelash styles is also the most concerned by consumers, of which the natural effect accounts for up to 80%, and the vast majority of consumers prefer and pursue natural wearing effects to meet the needs of multiple scenarios such as commuting to work and daily travel.
From the perspective of the applicable population, novice whites and handicapped parties account for 77%, and the easy-to-wear characteristics of the product are more friendly to novices and meet the needs of the handicapped party. Although office workers account for only 2%, the proportion of office workers is still expected to further increase under the trend of appearance first and the characteristics of fast product wear.
In 2023, the main consumer group of magnetic false eyelash products on the Tmall platform
From the perspective of negative consumer feedback, the negative rate of the scene dimension is relatively high. The negative reviews of the scene dimension mainly focus on the makeup removal process, which is difficult to remove, tear painfully, and there is displacement and weak suction when wearing it out of the house. Brands can iteratively upgrade products in terms of ease of pick-up and wearing stability to optimize consumers' experience.
In 2023, negative feedback from consumers of magnetic false eyelash products on the Tmall platform
05 Summary
The current popular aesthetic trend has helped the false eyelash market continue to grow, and there are still big opportunities for subdivision in the small market.
Magnetic false eyelashes and glue-free false eyelashes are all products of redesign based on consumer pain points. The false eyelash category has a low entry threshold and serious product homogeneity, so as a consumable product, the room for product price increase is relatively limited. Brands need to constantly innovate and optimize products based on consumer needs in order to get a share of this highly involuted market.
As an emerging category, magnetic false eyelashes still have certain development prospects, but at present, the head brand is dominant, and it is difficult to compete in the market. Brands can win the market with comfort based on the current wearing feeling, comfort and other category pain points.