BusinessMirror September 01, 2019

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

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A broader look at today’s business

Sunday, September 1, 2019 Vol. 14 No. 326

2018 EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

Online beauty and vanity n

Digitization boosts PHL, Asean cosmetics sales

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By Roderick L. Abad | Contributor

ONE are the days when consumers would have no other option but to go to brick-and-mortar stores to purchase their favorite cosmetic brand.

Asean cosmetic market’s makeup

ASIA Pacific (AsPac) is a force to reckon with, as far as the beauty industry is concerned, being the largest and one of the fastest-growing markets globally for cosmetic and personal care. In fact, Euromonitor Research reported that the region now accounts for 32 percent of the global beauty and personal care market that is projected to continue growing 6.7 percent in the next five years. Within AsPac, Southeast Asia is at the forefront of the online wave as more and more consumers now make purchases online than ever before. Based on the media intelligence firm’s new study, Indonesia represents 38 percent of socialmedia chatter around beauty; followed by Malaysia, 29.3 percent; the Philippines, 27.5 percent; and Singapore, 5.2 percent. Filipino netizens are active Instagram and YouTube users, looking for quality content, from trends to tutorials, with regard to beauty.

Read their lips

PER category, lip products were the most raved about items of Southeast Asians on social media, taking up 49.2 percent. They dominated the face (26.3 percent), eyes (23.5 percent), and cheek (1 percent) segments. Such trend is apparent in the Philippines, wherein 70.5 percent of beauty netizens were most vocal about all things lips, followed by face (14.8 percent), eyes (13.7 percent), and cheek (1 percent). Brand-wise, Estée Lauder lorded over the online conversation, followed by L’Oréal. The report, therefore, concluded that consumers in the region think of lipstick as the most important beauty product to get their desired look. Within the category, moisturizing qualities, fair skin, and long-lasting effects were the most mentioned features, indicating that consumers look for these attributes when choosing products. Consumers online seek for products by colors, with “orangey red” (13 percent), “pinkish brown” (9 percent), and “real red” (8 percent) emerging as the Top 3 hues searched on the web. Product finish was, likewise, hotly discussed with matte finish (10 percent) seeing an upward spike in recent times, followed by glossy (9 percent), and satin (5 percent). Majority of the conversations on social media also focused on the various applications of lip products, including mixing up and layering products to create personalized looks.

The rise of influencers

CELEBRITY Intelligence, a separate report supporting Meltwater’s findings, shows that social-media influencers play a pivotal role in shaping opinions and buying decisions for 80 percent of beauty shoppers.

IPB | DREAMSTIME.COM

This is because the rise of digitization has overturned the $532-billion beauty industry—thanks to easy access to the Internet, mobile technology and social media. Such is highly evident in the Philippines, known worldwide for having the biggest presence online. Meltwater’s latest report, titled “Beyond Skin Deep: Understanding the Shopping Journey of the Southeast Asian Beauty Buyer,” shows the top trends in the region and provides key insights for brands looking to explore this new, transformative path-to-purchase process. In a nutshell, it is found out that social-media influencers are now preferred over celebrities for beauty collaborations; Instagram is the channel of choice for talentled partnerships; and lip products were the most talked about items on social-network sites.

Continued on A2

The US-China trade war is ruining Christmas for toymakers

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SKYPIXEL | DREAMSTIME.COM

PESO EXCHANGE RATES n US 52.3390

By Bloomberg News

HINESE factories are normally at their busiest during the third quarter, cranking out production of everything from Barbie dolls to miniature trucks in time to ship them over the ocean to the US ahead of the all-important holiday shopping season. This year’s different. Even with President Donald Trump delaying tariffs on $160 billion of toys to smartphones to spare the Christmas boom for US

retailers, the damage has already been done. That’s because big toy purveyors like Walmart Inc. have already piled up inventory given

the uncertainty over how the trade war will pan out, according to industry officials. “We will be among those bearing the brunt,” said Justin Yu, a foreign trade manager at Pinghu Mijia Child Product Co., a maker of toy cars and kids’ scooters in Zhejiang, China. “The influence is definitively huge.”

New markets

YU now plans to find new customers in Europe, the Middle East and Africa to make up for the US shortfall. The company is considering reducing North America’s significance to its revenue to avoid future tariff hits. Yu said he currently sends $25 million of goods a year Continued on A2

n JAPAN 0.4915 n UK 63.8117 n HK 6.6710 n CHINA 7.3273 n SINGAPORE 37.7245 n AUSTRALIA 35.1927 n EU 57.8817 n SAUDI ARABIA 13.9563

Source: BSP (August 30, 2019 )


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