China’s cosmetics retail sales reached a record 75.3 billion RMB ($10.93 billion) in January-February 2026, up 4.5% YoY, signaling steady but moderating growth. Overall retail sales rose 2.8%, with non-auto consumption up 3.7%, according to official data. Consumers are increasingly prioritizing ingredients and value, boosting mid-range products while pressuring both low-end and premium segments. E-commerce, up 9.2% and accounting for 24.2% of total retail, continues to drive demand alongside holiday spending and promotional activity.

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