The COVID-19 pandemic has brought out contrary reactions in the demand for at-home beauty devices in the China and U.S. markets. While growth of the market for at-home beauty devices has slowed considerably in China, demand for these devices has caused an uptick in sales in the United States in 2020.Continue reading
It isn’t just a typical year for the beauty devices market in China, which has wavered between single-digit to low double-digit growth over the past few years. There are several factors driving this incredible growth of approximately 71% in 2017, but, undeniably, the Foreo brand plays the strongest role.
Other factors playing a role in this booming market include an influx of low-priced silicone devices, strong sales of multi-functional devices, and personalized devices based on artificial intelligence.
Relative newcomer Foreo has gone from being an unknown brand to the leading brand in the market with sales registering an incredible growth of over 300% to reach an estimated $85 million in 2017. This is in stark contrast to sales in the United States of $17 million.Continue reading