Hong Kong-based skincare and cosmetics retailer Sa Sa International is shaking up its product offering as customers are buying cheaper creams and lipsticks.
The trend toward cheaper Asian beauty products come amid a slowdown in China’s growth and an official clampdown on consumption and conspicuous spending.
It also reflects the growing popularity of South Korean pop-culture abroad and more affordable Japanese beauty offerings due to the weakened yen.
"We have traditionally been more focused on selling very high quality and premium-priced European and American products. But the market has moved much towards low- to mid-priced Asian products," said Sa Sa’s Guy Look.