The rise of "Yan value economy" has promoted the rapid development of the beauty industry, and also brought this industry into a critical stage of transformation and upgrading. From basic skin care to effective skin care, the beauty industry is undergoing a profound change. In this process, the Matthew effect of "the strong will always be strong" has become increasingly apparent. Domestic head brands take large single products as the main competition track, and technology-driven has become the key to achieve rapid growth.
However, how to find a balance between single product innovation and scientific ecological construction is a challenge faced by many enterprises. In this context, the "2023 Keyan Trend Conference" hosted by Jumeili attracted the attention of the whole industry, and the industry elites gathered together to discuss the future development direction of the cosmetics industry. Among them, Fang Yuyou, co-founder and CEO of Polaiya, gave a new idea.
Fang Yuyou explained in detail the road of enterprise’s transformation from operating genotype to science and technology, and elaborated on the switching of Polaiya’s two capability systems. The first switch took place in 2017, when the enterprise changed from simple TO B thinking to to TO C’s refined operation thinking, and began to change from a single online channel to an online and offline mixed mode; The second switch took place in 2020-2023. He proposed to use products to drive brands, and stressed that the R&D and marketing capability systems must be upgraded simultaneously.
Looking back on the development of Polaiya in the past 20 years, Fang Yuyou said that in the Internet era, emerging platforms such as Tmall and Tik Tok had a profound impact on the cosmetics industry. "It is very important to maintain the mentality of startups."
He also explained in detail how these factors can help enterprises achieve high-quality growth from the perspectives of big single product strategy, refined operation, product strength and R&D capability. In his view: "R&D is a bottomless pit, with a long time period and more investment. But as long as we persevere, one day we will change from quantitative change to qualitative change. "
For the future cosmetics market, Fang Yuyou is full of expectations. "Although the environmental consumption is now downgraded, the cosmetics market still has a scale of 400 billion to 500 billion, and it can even reach a trillion scale in the future."
He said that in the future, he will continue to insist on technology-driven product innovation, constantly enhance brand strength and product strength, and promote the high-quality development of China’s beauty industry.
With the rising of domestic products, the gap between domestic brands and international brands is getting smaller and smaller, forming a new pattern of industry competition. Only by keeping up with the pace of the times, daring to challenge and innovate can brands be in an invincible position in the fierce market competition.