A decade's lowest according to a statement released by the National Bureau of Statistics of China on January 17, the total retail sales of cosmetics in 2023 amounted to 414.2 billion RMB ($64.17 billion), marking a 5.1 percent increase compared to the previous year. In December, the retail sales data reached 32.3 billion RMB($5 billion), reflecting a 9.7 percent year-on-year increase. It's worth noting that this growth rate represents the lowest positive growth in the total retail sales of cosmetics in the past decade, signaling the end of the high-growth phase in the beauty and cosmetics market and a shift towards more refined and stable operations.