The data shows that from 2012 to 2019, the scale of China’s cosmetics market has shown a steady growth. In 2020, affected by the COVID-19 epidemic, the economy of various industries across the country will fluctuate greatly. The market size of the cosmetics industry is expected to reach 395.8 billion yuan. Income growth is the basic driving force for the rapid growth and consumption upgrade of the cosmetics industry. The overall consumption scale of the Chinese cosmetics market and per capita GDP show a strong linear correlation. With the rise of the “face value economy”, Chinese residents’ consumption of cosmetics will continue to rise, and the cosmetics industry will remain in a period of dividends.
Under the influence of the COVID-19 epidemic, various cosmetics companies are currently basically relying on Internet platforms. In addition to stimulating traditional e-commerce channels, accumulating live broadcast tools, social promotion, and group purchase marketing are the main methods. The major brands are focusing on the direction of their efforts, gradually moving towards younger, multi-channel, and using the background of social transformation and consumption upgrades to break through the dominance of foreign brands in the domestic market, and slogans in the era of new retail and new consumption. Next, conduct visual and social online channel sales, and gradually move towards centralization.
After the epidemic, the growth driving force of the cosmetics industry has fallen from the traditional demographic dividend and channels to a new stage where products are king and brands rise. Brand competition has also begun to enter a more professional and refined operation model. It is especially important to study and observe the operating rules and trends of different platforms, to gain insights into the consumer psychology and consumer needs of users, and to strengthen products.
There is no doubt that the beauty field is gradually establishing a digital ecology that “encloses” consumers. Cosmetic companies that are aware of the increasingly sophisticated consumer needs are building a way to mine consumer data. The cosmetics industry is developing rapidly in today’s market. On the surface, it has low entry barriers and high profits. It is a good choice for entrepreneurs. However, in the actual operation process, there will be various pain points to be solved. In the traditional cosmetics industry market, there are much shortages, such as inability to retain customers, difficulty in expanding customers, distrust of cosmetic stores, low loyalty, centralized marketing management, and insufficient security.
Blockchain technology includes features such as decentralization, distributed ledgers, transparency, non-tampering of data, traceability, digital assets, etc. The token economy uses blockchain technology to empower the further development of the physical industry and make applications free from virtuality. To be solid is also the mainstream direction of future product transformation.
GFC, the full name is Gloria Foundations Chain.，initiated by the Gloria Foundations of Shenzhen Smart Beauty Industry in Singapore, it unites top international blockchain technology talents to create an economic service system for the cosmetics beauty industry based on blockchain technology, adhering to fairness, justice, openness, mutual health, sharing and sharing. The purpose of winning is to solve the problems of the beauty industry’s current product news asymmetry and high prices through the cross-chain protocol of the blockchain, the traceable and non-tamperable distributed ledger record feature, and the concept of letting users dare to consume and willing to consume . At the same time, through consumption mining, consumers are willing to consume and can consume, helping the development of the cosmetics industry. As the world’s first beauty industry ecological public chain, GFC means a chain of openness and freedom in the vast cosmetics market and a chain of beauty consensus in the cosmetics market.
GFC is mainly used in the global cosmetics industry. This will help more beauty industries to empower the token economy and truly serve the blockchain network of the physical beauty industry. In the future, it will be easily transferred between the beauty industry markets of various countries in the world, which is to open up the value of customer cooperation and circulation, to open up services and assets, and to open up a channel for the rapid development of the beauty industry. Under the traditional cosmetics economic system, new ecology often needs to reacquire users, or need to use the original ecology to divert the new ecology. But GFC can break this approach and reduce customer acquisition costs. For example, users are potential users who can be converted directly. As long as users who have participated in an ecosystem, they can directly read the data on the chain when they log in next time. The ecological user sharing of the whole link enables the partners participating in GFC to get more effective product exposure and connect traffic pool.
In the future, if companies in the cosmetics industry want to get a share of the smoke-free market, they need to combine blockchain technology and build a big data strategy, but they cannot do without the GFC beauty public chain. Broaden the breadth and depth of research data in the cosmetics industry, understand the market composition of the cosmetics industry, the characteristics of market segments, consumer demand and the status of competitors, etc., and propose better solutions based on scientific and systematic information data collection, management, and analysis. The solutions and suggestions to solve the problem ensure that the company’s brand market positioning is unique and individualized, so as to improve the core competitiveness of the company.
GFC will create a future-oriented distributed trust ecosystem that everyone can consume and everyone dares to consume. It will use enhanced blockchain technology and innovative applications to subvert the current bottleneck situation encountered in the beauty industry, achieve breakthrough development, and lead the construction of the cosmetics industry ecosystem.