Domestic brands rapidly raising their game
2 years, 4 months ago

Domestic brands rapidly raising their game

China Daily  

In 2019, the market share of Chinese brands on Alibaba's retail platform reached 72 percent, according to the 2020 China Consumer Brand Development Report released by AliResearch. The annual growth rate for pharmaceutical health products reached 38.5 percent, beauty and personal care products saw 36.7 percent growth, while the food industry witnessed annual expansion of 31.5 percent. With people buying beauty and personal care products to look good, and also food, drinks and healthcare products to enjoy life, Yongpu Coffee introduced its instant brand. Hou Yongpu, the founder of Yongpu Coffee, which has updated its products continuously since being launched in 2014, said, "What customers want, and how they enjoy products, have always been our top priority, so we keep evolving to meet demand from consumers who give us the inspiration, encouragement and impetus to move forward."

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