1、SkinMoisturizing英文版lSkin Moist. Body Market OverviewlHow XX Milk Help Brand Sales & Share GainlBB&Kids Cream, XX Cream Launch EvaluationlExplore Skin Moist. Sachet Opportunity02,0004,0006,0008,00010,00012,000JF01MA01MJ01JA01SO01ND01JF02MA02MJ02JA02SO02ND02JF0302004006008001,0001,2001,4001,60

2、0Volume Sales(000Ton)Value Sales (000Rmb)Total Skin Moisturizer6%9%4 Months Growth vs YA2%3%VolumeValueMAT Growth vs YA1,7411,8852,08513,62614,0941,4524Months to JF024Months to JF03EyeHandBodyFacial2302472,2452,423100961191494Months to JF024Months to JF03EyeHandBodyFacialVolume Sales(Ton)Value Sales

3、(Mil.Rmb)6%9%3%8%11%7%20%26%4 Months Growth vs YA2%0%6%14%3%2%5%17%Number in green is of the annual growth MAT JF03 vs MAT JF02050100150200250JF 01MA 01MJ 01JA 01SO 01ND 01JF 02MA 02MJ 02JA 02SO 02ND 02JF 03OILUVOTHERSREG LOTIONUC LOTIONMILK LOTIONVolume Sales-Ton, (National)National, Body BaseXX20.

4、019.7-0.320.7 19.219.720.31.1NIVEA4.35.10.83.94.85.44.80VASELINE64.6-1.46.45.64.94.3-1.3SOFTSENSE1.820.22.21.42.21.80.4National, Body Base 4M toJF024M to JF03ChgND 01 JF 02 ND 02 JF 03ChgMininurse White+UV contributed growth this season.LONG LI QI15.510.1-5.413.417.79.910.3-7.4YU MEI JING2.56.94.42.

5、42.68.25.42.8AN AN5.63.5-2.15.35.93.13.9-2SMISS3.52.4-1.13.23.822.8-1BAI QUE LING 1.82.20.41.522.51.9-0.1MININURSE12.31.31.20.82.51.91.1O.BRAND37.740.93.239.535.939.942.26.3National, Body Base 4M toJF024M to JF03ChgND 01 JF 02 ND 02 JF 03ChgXX24.623.9-0.724.624.622.725.50.9NIVEA7.89.11.36.88.99.48.8

6、-0.1VASELINE9.77-2.79.69.87.26.7-3.1SOFTSENSE1.92.30.42.21.52.42.20.7LONG LI QI8.55.4-3.17.1105.15.7-4.3SAKULA2.941.13.32.54.53.40.9AN AN6.43.7-2.75.77.13.34.3-2.8MININURSE3.13.60.43.72.63.73.31YU MEI JING1.33.321.21.33.82.81.5CATHY1.11.60.51.50.62.210.4O.BRAND31.434.63.232.929.934.534.54.6Sakula pr

7、omotion product help share gain.Volume Share(Body Base)TTL BODY10011CREAM35.2-4LOTION51.326Basic43.525Pure White0.5-56Pure UV4.254UV+White3.180OIL13.544M to JF03Growth vs YANumber in red is of XX product growth respectively.(National)100735.9-455.01740.3140.4-598.8215.5668.83Value Share(Body Base)4M

8、 to JF03Growth vs YA24.59.211.632.518.9-15.3TTL BodyLotion BasicKeyCompetitorsCombinedJBNIVEASOFTSENSEVASELINEVolume Base13.54.17.225.422.2-20.8TTL BodyLotion BasicKeyCompetitorsCombinedJBNIVEASOFTSENSEVASELINEValue Base4Months to JF03 vs YANational, Body Lotion Basic Base4M toJF024M to JF03ChgND 01

9、 JF 02 ND 02 JF 03ChgXX39.535.4-4.139.739.333.337.9-1.4VASELINE11.37.7-3.611.910.78.37-3.7NIVEA5.96.20.35.56.36.65.8-0.5SOFTSENSE4.64.4-0.25.43.74.64.10.4YU MEI JING6.115.69.55.66.717.912.86.1BAI QUE LING4.34.70.43.55.25.24.2-1XILI2.11.9-0.21.92.41.52.3-0.1HAI ER MIAN3.11.9-1.23.72.41.92-0.4GONG DEN

10、G3.41.9-1.54.52.12.11.5-0.6XIAN ZI2.61.5-1.12.3312.1-0.9O.BRAND17.118.81.71618.217.620.32.1YU MEI JING priced about 60rmb/kg.YU MEI JING3.184.92.83.39.26.73.4BAI QUE LING 1.51.70.21.21.81.91.5-0.3PEARS0.910.10.71.10.91.10FA1.70.9-0.82.21.11.10.7-0.4TOBABY1.30.8-0.51.41.20.70.9-0.3XILI0.80.800.80.80.

11、610.2O.BRAND11.814.52.711.312.514.114.62.1XX48.545.8-2.748.748.343.348.80.5VASELINE16.911.8-5.117.316.512.710.8-5.7NIVEA8.69.50.989.4109-0.4SOFTSENSE4.95.20.35.645.54.90.9National, Body Lotion Basic Base4M toJF024M to JF03ChgND 01 JF 02 ND 02 JF 03Chg4.94.97.55.93.74.25.28.211.34.28.814.29.911.21.20

12、.80.91.31.53.43.64.24.23.82.902468101214161820JF 01MA 01MJ 01JA 01SO 01ND 01JF 02MA 02MJ 02JA 02SO 02ND 02JF 03220ml(浴后乳液）108ml（鮮奶乳液）110mlBody Lotion Basic Base108ml67897887111112119220ml7881078789101098Weighted Distribution(Rmb10.6/p)(Rmb10.3/p)4M to JF024M to JF03JF 02JF 03NationalYMJ 6.115.6108ml

13、1.43.489220ml4.712.278N2 YMJ 26.362.8108ml613.61216220ml19.749.2912N A CityYMJ 33.262.2108ml6.912.32330220ml25.549.92630Volume ShareWeighted Distribution1961922932833802064M to JF024M to JF03TownBCD CitiesA Citeis4 Cities226342921636521451423220333125317220514Months to JF024Months to JF03TownBCD Cit

14、iesA Citeis4 CitiesVolume Sales(Ton)Value Sales(000Rmb)24%13%34%24%52%29%-5%-13%Number in green is of the annual growth MAT JF03 vs MAT JF02YU MEI JING15.69.54.9-0.739.12543.2BAI QUE LING 4.70.47.72.81.8-3.13.60.2HAI ER MIAN1.9-1.20.5-2.820.251.3XILI1.9-0.20.7-0.10.3060.8GONG DENG1.9-1.5000.3-0.31.3

15、-2XIAN ZI1.5-1.10.1-0.10.3-0.45.1-0.6O.BRAND18.81.719.410.914.1-8.624.71.74Months toJF03chg YAJF02chg YAJF02chg YAJF02chg YAXX35.4-4.131.3-3.433.9-10.346.91.5VASELINE7.7-3.614.5-4.23.3-2.62.1-6.7NIVEA6.20.311.2-0.54.3-0.30.70.2SOFTSENSE4.4-0.29.7-1.90.60.40.60.4A CityBCD City4 CityNationalVolume Bas

16、e Body Lotion Basic BaseValue Base Body Lotion Basic BaseYU MEI JING852.1-0.221.514.13.22.6BAI QUE LING 1.70.22.50.90.7-11.40.2PEARS10.10.1-0.11.9-0.31.20.4FA0.9-0.71.30.30.3-0.21.1-2.8TOBABY0.8-0.50.3-0.41.1-1.21.50.6XILI0.800.300.30.12.20.3O.BRAND14.52.412.56.711.7-1.720.13.8XX45.8-2.735.1-1.748.1

17、-7.163.85.4VASELINE11.8-5.120.1-4.15.6-43.6-11.4NIVEA9.50.915.2-0.57.90.610.3SOFTSENSE5.20.410.5-0.90.90.70.90.64Months to JF03 chg YA JF02 chg YA JF02 chg YA JF02 chg YAA CityBCD City4 CityNationallTotal Skin Moisturizer experienced faster growth rate in this winter with positive price inflation -

18、6% in volume and 9% in valuelAccelerated growth rate had been captured in all segments, esp. In Facial and Hand, which both experienced higher value growth than volume growthlBody also captured positive volume growth (11%), but its value growth was much lagged behind (7%) in recent winterlWith Body,

19、 Lotion still obtained outstanding growth with growth rate of 26% in volume and 17% in value; but cream declined which led to a slower growth rate in total bodylThe price deflation in Body Lotion mainly traced to basic Body Lotion, where local brands, like Bai Que Ling and Yu Mei Jing, developed fas

20、tlOverall, XX did captured positive growth in recent winter period and Milk largely contributed to our growth lBut we still slightly lost share in Body market in recent winter due to slower growth than the market, especially in the Basic Body Lotion segmentlIn Basic Body Lotion segment, we lost shar

21、e to Bai Que Ling and small brands in Key cities and Yu Mei Jing in A cities; But our distribution expansion led to our share gains in BCD cities, which narrowing our overall share lostlOverall speaking, XX is still the absolute leader in the Basic Body Lotion segment in value terms; but development

22、 of low-end brands, like BQL and YMJ, in Key & A cities, suggesting emergence of new market needs Volume(TON)Value(000rmb)020406080100120JF02JF03JF02JF03JF02JF03JF02JF03JF02JF034 Months to04,0008,00012,00016,000JF02JF03JF02JF03JF02JF03JF02JF03JF02JF034 Months toUC LotionReg.LotionMilk LotionGZSH

23、BJCDA CITYVolume ShareValue Share0102030405060JF02JF03JF02JF03JF02JF03JF02JF03JF02JF03UC LotionReg.LotionMilk LotionShare Base, Body Lotion BasicGZSHBJCDA CITY010203040506070JF02JF03JF02JF03JF02JF03JF02JF03JF02JF034 Months to4 Months toValue Share(Body Lotion Basic Base)4M to JF024M toJF03Chg YAND01

24、JF02ND02JF03Chg YAXX Basic Lotion32.528-4.530.834.724.731.9-2.8MILK 200ml5.75.738.98.9REG LOTION10.16.7-3.410.39.97.45.8-4.1100ml3.32.5-0.83.13.42.62.4-1200ml6.82.9-3.97.16.532.8-3.7300ml1.21.21.80.60.6UC LOTION22.415.6-6.820.524.814.217.2-7.6100ml5.86.30.56.25.46.36.30.9200ml16.69.3-7.314.319.57.91

25、1-8.5ND01JF02ND02JF03JF02JF03MILK 200ml607013.6REG LOTION87878676100ml747284753.4200ml878561545.6300ml27223.1UC LOTION88868986100ml656380758.9200ml8785878613.6Weighted DistributionS.P.P.D(000RMB)10.44.36.926.37.820.88.221.4(11)(11)Number in brackets are of weighted O.O.S distribution.Rmb/Kg4Months t

26、oJF 02JF 03ChgJF 02JF 03ChgJF 02JF 034 Key Brand96.990.3-6.791.579.9-11.7XX32.528-4.53426.8-7.2126130VASELINE3127.7-3.42621.7-4.3157158SOFTSENSE18.218.70.519.118.1-1.1125128NIVEA15.215.90.712.413.30.9161148BAI QUE LING1.83.41.66.211.65.43936O.BRAND0.55.65.10.47.77.317391Value ShareVolume ShareIn O.b

27、rands, key brand are of露華濃 雅佳美 潤(rùn)膚露450ml priced RMB37/pck(82rmb/kg), andBody Lotion Basic Base(200ML)3.78.114.510.64M to JF024M to JF03SOFTSENSE 200mlSOFTSENSE 110ml5.244.84.95.511.114M to JF024M to JF03ENRICHED MILK 125mlFIRMING 200mlFRESH 125mlFRESH 200mlINTENSIVE MILK 125mlINTENSIVE MILK 200mlBody

28、 Lotion Basic Base9.88.42118.4-137111519232731354M to JF024M to JF03Vaseline 200mlVaseline 100mlSoftsenseNiveaVaselineJF 02JF 03JF 02JF 03JF 02JF 03MILK 200ml7013.626.3XX REGULAR 100ml72754.33.414.614.2XX REGULAR 200ml85546.95.621.522.1XX REGULAR 300ml223.131.4XX UC 100ml63757.88.916.316.5XX UC 200m

29、l858620.813.624.123.4SOFTSENSE 110ml52735.913.315.716.1SOFTSENSE 200ml837512.612.223.923.3FIRMING 200ml64627.97.247.933.6FRESH 125ml34443.42.722.922.1FRESH 200ml52622.47.230.227.3INTENSIVE MILK 125ml55422.92.118.522INTENSIVE MILK 200ml526111.210.423.827.4Vaseline 100ml636419.712.918.819.1Vaseline 20

30、0ml516228.126.429.129.6WeightedDistribution(000RMB)RMB/PckValue Share(Body Lotion Basic Base)4M to JF024M toJF03Chg YAND01JF02ND02JF03Chg YAXX37.130.1-739.634.629.131.4-3.2MILK 200ml5.15.12.68.18.1REG LOTION12.310.1-2.213.311.311.38.7-2.6100ml4.94.1-0.85.24.64.33.8-0.8200ml6.95.3-1.67.66.16.24.2-1.9

31、300ml0.20.70.50.20.30.70.60.3UC LOTION24.814.9-9.926.323.315.214.6-8.7100ml9.15.4-3.710.57.74.36.8-0.9200ml15.79.5-6.215.715.610.97.8-7.8ND01JF02ND02JF03JF02JF03Weighted DistributionS.P.P.D(000RMB)MILK 200ml36556.2REG LOTION849386845.14.3100ml677682782.52.1200ml706672663.92.7300ml131322130.91.9UC LO

32、TION8382817811.87.8100ml8280767543.8200ml716773679.74.9Rmb/Kg4Months toJF 02JF 03ChgJF 02JF 03ChgJF 02JF 03Value ShareVolume ShareBody Lotion Basic BaseXX37.130.1-730.823.3-7.5141139NIVEA21.219.3-213.211.8-1.4188175VASELINE14.714.80.19.39.1-0.2185175YU MEI JING9.19.40.320.219.7-0.65352FA4.24.60.33.9

33、4.90.9125101SOFTSENSE1.11.60.411.40.4135123O.BRAND12.620.27.621.629.88.2118106In O.brands, key brand are of露華濃 雅佳美 drove sale in BJ1.91.12.30.52.94M to JF024M to JF03FA 400ml-PUMPFA 250mlFA 100ml1.110.46.258.522.91.21.31.34M to JF024M to JF03ENRICHED 200mlENRICHED 125mlFIRMING LOTION 200mlFRESH 125m

34、lFRESH 200mlINTENSIVE MILK 125mlINTENSIVE MILK 200mlBody Lotion Basic Base7.96.86.984M to JF024M to JF03Vaseline 200mlVaseline 100mlFANiveaVaselineJF 02JF 03JF 02JF 03JF 02JF 03WeightedDistribution(000RMB)RMB/PckMILK 200ml556.229.1REGULAR 100ml76782.52.115.315.5REGULAR 200ml66663.92.723.122.4REGULAR

35、 300ml13130.91.934.731.9ULTRA CARE 100ml807543.817.917.1ULTRA CARE 200ml67679.74.926.826.1FA 100ml47261.81.515.110.9FA 250ml3311.41827.226.8FA 400ml-PUMP195.738.2FIRMING LOTION 200ml334414.96.553.150.6FRESH 125ml4121.41.724.424.4FRESH 200ml32372.2332.128.8INTENSIVE MILK 125ml21302.81.720.225INTENSIV

36、E MILK 200ml334566.72629.2VASELINE 100ml54447.16.121.421.2VASELINE 200ml37328.66.732.329.8Nivea(95Rmb/kg)Value Share(Body Lotion Basic Base)4M to JF024M toJF03Chg YAND01JF02ND02JF03Chg YAXX60.149.8-10.361.658.148.651.9-6.2MILK 200ml553.188REG LOTION27.818.1-9.726.229.718.218-11.750ml1.60.6-11.71.40.

37、50.7-0.7100ml11.27.5-3.711.610.87.47.6-3.2200ml14.79-5.712.517.59.38.6-8.9300ml01.11.1001.11.21.2ULTRA CARE 32.326.7-5.635.428.427.325.9-2.5100ml2216.5-5.527.814.815.917.32.5200ml10.310.37.613.611.48.60-5.0ND01JF02ND02JF03JF02JF03Weighted DistributionS.P.P.D(000RMB)MILK 200ml192235.9REG LOTION544561

38、5749.931.150ml2215966.911100ml5144525218.514.4200ml403336374022.7300ml87ULTRA CARE4537575958.143.2100ml4436555431.131.5200ml3126312939.629.2Body Lotion Basic BaseValue Share55.348.164.656.356.1 54.946.543.753.640.921.5194115.928.77.447.72.96.89.77.27.9JF02JF03JF02JF03JF02JF03JF02JF03JF02JF03JBYU MEI

39、 JINGNIVEAVASELINEPEARSO.BRANDS4 Months toA CITYS AE AN AW AIn W A, firming lotion contributed most of share gain.Body Lotion Basic BaseValue Share1.31.31.52.40.40.20.90.20.30.20364M to JF024M to JF03INTENSIVEMILK 200mlINTENSIVEMILK 125mlFRESH 200mlFRESH 125mlFIRMINGLOTION 200mlENRICHED125mlENRICHED

40、200mlWeighted DistributionRmb/PckJF 02JF 03JF 02JF 03INTENSIVE MILK 200ml9102631INTENSIVE MILK 125ml322125FRESH 200ml5123430FRESH 125ml542724FIRMING LOTION 200ml5115048INTENSIVE MILK 200mlINTENSIVE MILK 125mlFRESH 200mlFRESH 125mlFIRMING LOTION 200mlWeighted Distribution 0102030405060708090100GZ-H/S

41、SH-H/SBJ-H/SCD-H/S/DA-H/SS AE AN AW AMilk 200mlUC Lotion 200mlREG Lotion 200mllLaunch of Milk did help us to gain sales in A cities but not much in SH and BJlMilk 200ml expanded distribution fast and obtained strong in-store off-takelAt the same time, in-store off-take of 200ml of our regular and UC

42、 declined, without distribution lost yetlOverall, in A cities, we still have rooms to improve distribution of Milk4108658269418361621643834Months to JF024Months to JF034 CityA CityBCD CityTownVolume Sales(Ton)Value Sales(Mil.Rmb)-5%+3%53858476692319414Months to JF024Months to JF034 CityA CityBCD Cit

43、yTownSize Growth vs YA-11-10-50727-1214M toJF024M toJF03Chg YAND 01JF 02ND 02JF 03Chg YAYU MEI JING2220.7-1.320.523.620.820.6-3HAI ER MIAN15.713.9-1.817.613.613.814.10.5XX6.812.75.96.27.412.712.65.2CHUN JUAN118-310.711.488.1-3.3AN AN6.34-2.35.86.944-2.9SAKULA3.43.403.43.33.83-0.3LONG LI QI0.62.72.10

44、.212.82.71.7BAOBEI21.2-0.81.82.31.21.1-1.2XIAO DING DANG0.210.80.20.20.91.10.9BALLET0.80.5-0.30.80.70.50.5-0.2Value Share(BB&Kids Cream Base)4 CityA CityBCD CityTown4Months toJF 03Chg YAJF 03Chg YAJF 03Chg YAJF 03Chg YAYU MEI JING10.5-3.928.6-10.419.93.919.1-2.2HAI ER MIAN17.7-7.110.6-0.616.70.1

45、11.9-3XX35.919.4207.110.33.12.11.5CHUN JUAN10.9-7.10.7-0.54.9-3.116.6-1.4AN AN0.4-0.61.6-1.55.4-3.65.4-1.1SAKULA3.8-1.74-0.63.40.82.9-0.1LONG LI QI1.513.52.83.22.721.3BAOBEI1.6-0.61.1-0.80.8-0.61.4-1.4XIAO DING DANG0.70.70.60.51.31.11.10.9BALLET0.2-0.11.1-1.50.60.20.1-0.2Value Share(BB&Kids Crea

46、m Base)2.53.30.31.72.31.32.73.23.73.22.93.83.533.52.84.63.24.44.23.85.144.84.63.40.702468101214JF 01MA 01MJ 01JA 01SO 01ND 01JF 02MA 02MJ 02JA 02SO 02ND 02JF 03IC 25gIC 60gReg.60gUC 25gUC 60gValue Share(BB&Kids Cream Base)312828293039396194151621051015202530354045JF 02MA 02MJ 02JA 02SO 02ND 02JF

47、 03JB CreamIC 25gIC 60gUC 25gUC 60gWeighted DistributionValueShareVALWTDWeightedDistributionNumericDistributionRmb/PckHAI ER MIAN 40g10.68152136.4XX UC 60g7.97741721.4XX IC 25g6.88532710.5XX IC 60g6.17333421.8XX UC 25g663381010.6YU MEI JING 40g3.8592685.5HAI ER MIAN 25g3.75825142.9National City-H/S(

48、BB&Kids Cream Base)XX Cream total distribution scored 53% in weighted and 14% in numeric which is even with H.E.M 40g in city H/S channel.51.758.813.811.234.5304M to JF024M to JF03H/S/DG/KMisc.StoresValue Base4Months toJF 02JF 03JF 02JF 03JF 02JF 03YU MEI JING2220.720.116.923.926.1HAI ER MIAN15.

49、713.919.116.112.110.8XX6.812.711.720.11.52CHUN JUAN1183.9218.716.6AN AN6.343.82.196.8Traditional StoreH/S/DeptNationalValue Share(BB&Kids Cream Base)02468101214161820JF02JF03JF02JF03JF02JF03BAGBOTTLETUBE0510152025JF02JF03JF02JF03JF02JF03BAGBOTTLEChunjuanY M J0510152025JF02JF03JF02JF03JF02JF03BAG

50、BOTTLEValue Share(BB&Kids Cream Base)79%57%25%Bag contribution in traditional store by brandlXX Cream sales increasing fast, IC 25g launch accelerated growth in this peak season. lXX gained share significantly in 4&A and catching up with H.E.M in BCD as welllIC 25g consumer off-take well per

51、formed overalllXX cream distribution is competitive in modern trade will weak in traditional storelY.M.J/Chunjuan/H.E.M high share in traditional trade, bag products contributed their share in this trade68.679.215.316.116.54.2Volume BaseValue BaseBOTTLEBAGOthers(National-MAT JF03)(-10%)(-11%)Number

52、in brackets is bags annual growth rate.ValueShareVolumeShareRmb/KgNational4.817.549Modern Trade2.811.354Traditional Trade8.624.947South3.613.654East3.815.847North4.214.548West9.129.7514 Cities1.87.556A Cities4.316.755BCD Cities3.513.250Town12.329.3453733.86366.2Volume BaseValue BaseModern TradeTradi

53、tional Trade6.66.32930.631.733.831.430.6Volume BaseValue BaseSouthEastNorthWest5.54.918.734.834.44143.816.9Volume BaseValue Base4 CityA CityBCD CityTown(National-MAT JF03) (National-MAT JF03) , Bag Moisture BaseRmb/Kg25GM51.930GM54.720GM77.950GM24.8135GM58.445GM20.240GM40.510GMValue Share43.538.65.95.42.60.90.80.5Volume Share41.5353.710.82.22.30.91.122.8Value ShareVolume ShareRmb/KgYU