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China News Service, July 31 (Zhang Shunan) On July 30, the "2024 Cosmetics Big Data Forum" was held in Beijing. At the forum, the New Health Branch of the China Food and Drug Promotion Association and Beijing Cognitive Insight Technology Co., Ltd. jointly released the "Cosmetics Billion-Yuan Club Consumer Cognition Survey Ranking".

It is reported that the list is based on the theory of consumer psychology and conducts a comprehensive assessment from the perspectives of consumer cognition, consumer emotion, consumer values ​​and consumer behavior. The big data support is 562,604 pieces of consumer (netizen) expression data related to cosmetics in Xiaohongshu, Douyin, Weibo and Toutiao in the first half of 2024.

Sang Lichuan, deputy director of the New Health Products Branch of the China Food and Drug Promotion Association, announced in his keynote speech that judging from the scores,The top three in brand value are OSM, MARUMEI and HBN.

Sang Lichuan mentioned that in addition to the overall list, the three first-level indicators of brand value can also be compared separately to form three sub-lists of brand recognition, brand association, and brand stickiness.

　　The first sub-list is the brand recognition list, with the top three being PROYA, OSM, and MARUMI.Sang Lichuan introduced that brand recognition is the degree to which consumers know and understand a brand, which includes two secondary indicators, "brand prominence" and "depth of brand awareness".

　　The second sub-list is the brand association list, with Marubi, OSM and HBN ranking in the top three.Sang Lichuan said that brand association is the value preference associated with a brand that consumers can think of when they think of a brand, including two secondary dimensions, "product value association" and "symbolic value association". Product value association is the degree of value judgment consumers make due to product attributes in the brand, such as quality, price, etc.; symbolic value association is the degree of value judgment consumers make due to non-product attributes in the brand, such as self-value, social value, social value, etc.

　　The last sub-list is the brand stickiness list, with Winona, OSM, and HBN ranking in the top three.Sang Lichuan said that brand stickiness is the positive emotional experience and behavioral preference of consumers towards a brand, including two secondary dimensions, "brand satisfaction" and "brand loyalty". Brand satisfaction is the positive emotional experience of consumers towards a brand, such as love and happiness; brand loyalty is the behavioral response of consumers to skin care brands that they have repeatedly shown, such as repeat purchase, repurchase, recommendation, etc.

Based on the list data, Han Xuhui, CEO of Beijing Cognitive Insight Technology Co., Ltd., came to four conclusions:

　　First, even if the sales volume is large and the popularity is high, the brand value may not be high.A brand not only needs to be well-known, but also needs effective consumer awareness. Live streaming and new media marketing are indeed effective in increasing product sales, but in order for a brand to occupy the minds of consumers and resonate with them, it is necessary to help consumers "finely process the brand's meaning from a cognitive perspective."

　　Second, the higher the product value association, the higher the brand satisfaction.The more effort a brand puts into its product, the more satisfied consumers will be, the more they will favor a brand, and the more product attributes they will associate with it. Live streaming helps to showcase product-related attributes, but simply emphasizing product attributes cannot significantly increase the degree of branding and brand value.

　　Third, the loyalty of each brand is generally not high and the differentiation is large.Loyalty can better reflect brand value. Loyal consumers are relatively scarce. Domestic brands generally need to improve loyalty. All brands have opportunities in this process.

　　Fourth, symbolic value associations have not yet gained sufficient traction in consumers’ minds.In addition to efficacy and quality (quality), cosmetics brands need to combine with consumer segmentation and positioning, and demonstrate social value (taste). As a domestic brand, they need to combine with social value (character). The clearer the symbolic attributes of the brand, the more likely it is to remember a brand and build loyalty.

Regarding the above conclusion, Han Xuhui believes that branding should start from the depth of cognition, symbolic value and loyalty. The key to brand value is the consumer mind, which is also the black box to open consumer decision-making.Brands cannot develop market and product strategies simply by analyzing consumer behavior results. They also need to gain insight into the process of user preference formation (consumer decision-making process), understand consumer minds, and make more effective strategic recommendations.(China News Service APP)

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