Author | Momo
Edit | chestnut
Product | Investor Theory (Investment Theory)
All industries related to women's consumption are the next sunrise industry.
A report entitled "Her Power" released by Tmall also said that women are the promoters of the new consumption wave and the creators of "her economy". At present, 80% of the new brand of Tmall head that broke out in 2020 focuses on women's consumer demand.
In other words, women have become the promoters of the new consumption wave, and the female economy will become the mainstream of future economic growth.
Focusing on women's consumption is the blue ocean market faced by entrepreneurs, and Yan's value economy is also becoming the mainstream consumption sector of women's economy in the future.
90% of consumers are women's medical beauty market and are enjoying the huge dividend of "her economy".
Recently, the Report on the Consumption Trend of Female Medical Beauty in China in 2020 released by the Institute of New Oxygen Data shows that in 2020, the number of medical beauty consumers in China will reach15.2 million, up 35.7% year-on-year, which is nearly seven times the growth rate of the medical beauty market. Medical beauty consumption has been accepted by more and more consumers. It is worth noting that more than half of the150,000 medical beauty consumers are post-90 s.
The annual report issued by China Plastic Surgery Industry Association shows that by 2022, the plastic surgery market in China will reach 300 billion yuan, and strong market demand will drive the rapid development of upstream products and industries.
In 2020, medical beauty consumption successfully broke the strange circle, and in the process of consumption upgrading in China, generate flourished.
On Investors respects every valuable cognition and hopes that these profound thoughts will be seen by more people.
Medical beauty consumption has recovered rapidly, and medical beauty is still a sunrise industry.
Xiaomei, a white-collar worker in a first-tier city with a monthly income of over 10,000 yuan, first came into contact with medical beauty at the age of 28.
At that time, she often browsed the "micro-whole" stories uploaded by users on platforms such as Little Red Book and New Oxygen.
"If you have nothing to do, just look at the comparison of projects completed by others and imagine how good it would be if you succeeded." Xiaomei said, "I am very excited to see others do a good job."
After paying attention to it for half a year, Xiaomei became fascinated with various projects such as face-lifting, collagen and hyaluronic acid filling. Finally one day, Xiaomei finally decided that she had to take action. She thought to herself that she would never know the effect until she tried.
Standing in front of the mirror, Xiaomei began to try to analyze her needs slowly.
"Eyes, don't need to move. Nose, too risky face, not bad. Mouth, don't like boh lips, if coated with hyaluronic acid will be very fake ... "
Xiaomei finally analyzed that what she needs to solve most is the problem of dark circles.
She first consulted nearly 20 hospitals, and then consulted online. Finally, she chose a hospital in neooxygen and spent 8800 yuan to inject a 5 ml collagen into the lower part of the dark circles of her eyes.
Xiaomei thinks that the local medical beauty within 1.2 million yuan is her acceptable range. However, projects involving100000 or even 200000 will not be considered for the time being.
Like Xiaomei, there are countless post-90s girls who are interested in medical aesthetics.
Grasping the post-90 s women is to seize the main force of medical beauty consumption.
By 2020, the proportion of China medical and beauty consumers under the age of 30 has reached 77%.
But in addition to the post-90 s women, medical and aesthetic institutions must learn to catch the post-85 s crowd.
The data shows that the proportion of medical beauty consumers aged 365 and 438+0-35 is increasing year by year. This part of the population has a stronger demand for medical beauty consumption and a relatively stronger spending power.
With the popularization of the concept of medical beauty, women are no longer as secretive about medical beauty as they were a few years ago, and medical beauty has become more and more common.
"Full-service online" became a popular word in 2020. This word mainly describes people who can find their own breakthrough point slowly and steadily, and fine-tune it to achieve accurate improvement in face value.
After Meiquan was once stigmatized, users who participated in medical beauty were constantly improving their aesthetics, from the initial "plastic face" to the pursuit of "maternal feeling".
Not only Esther Yu, Zhao, and other stars have generously promoted their medical beauty projects, but more and more KOL and vegetarians have also started to share their medical beauty experiences on public traffic platforms such as Xiaohongshu, Weibo, and Aauto faster, which has won the attention and praise of a large number of fans.
"Investor Theory" searches thousands of melon data with medical beauty as the key word. The results show that there are 654.38+10,000 notes related to medical beauty on a grass platform, and there are 136 1 person related to medical beauty industry.
A person who has been paying attention to medical beauty for a long time revealed to Investor that some KOL bloggers who are perpendicular to medical beauty content sharing have accumulated accurate fans from homework sharing, and later they can set up their own medical beauty institutions and cooperate with the medical beauty platform based on their own accurate fan base.
The medical beauty market is booming, but the epidemic situation has brought great impact to the medical beauty industry.
According to statistics, in 2020 alone, more than 1400 medical and beauty institutions closed down. Frost & According to the data released by Sullivan, in 2020, the overall growth rate of China's medical and beauty service industry narrowed sharply, slowing down to 5.7%. This led to a major reshuffle of medical and beauty institutions last year.
On the other hand, consumers' demand for medical beauty is also rising.
According to the data of the Institute of New Oxygen Data, in 2020, the number of medical and beauty consumers accelerated, with a year-on-year growth rate of 35.7%, and the growth rate of consumers was seven times that of the entire medical and beauty market.
Even in the year when everyone wore masks, there were still people rushing to medical beauty institutions. Due to the influence of special factors such as the local Spring Festival policy, many users who love beauty choose to go to medical beauty institutions during the Spring Festival holiday.
202 1, the haze of the epidemic has not yet dispersed, but after entering 202 1, the domestic medical and beauty consumer market has shown strong recovery ability.
According to the data of New Oxygen Research Institute, in February of 20021year, the overall transaction scale of domestic medical and beauty consumption was four times that of the same period last year. 202 1 in the first two months, the consumption scale of skin care increased by more than 900% year-on-year.
Changes in consumption structure of medical beauty, new industry keywords: anti-aging and fat reduction
In the past, when it comes to medical beauty, people may still pay more attention to projects such as "rhinoplasty" and "breast augmentation". However, the consumption structure of medical beauty industry is changing, and the new key word of female medical beauty in China is anti-aging.
It has become a trend that the tight anti-aging demand in the entire medical beauty market will surge by nearly 60% in 2020.
Jumaji is definitely an anti-aging explosive product project in 2020, which has set off a well-known trend of planting grass for all.
In September 2020, 25-year-old Xin Wei spent 18000 yuan to make a hot Maggie under the anxiety of "staying young forever". Anti-aging and lifting and firming are her only demands.
"At that time, the hot Maggie wind was too strong, and then I just turned 25. At the age of medical beauty, the skin is not too big, so I chose an anti-aging and compact project, basically only hot Maggie. " Xin Wei said.
The general price of anti-aging medical beauty projects is not low, but many young users are still eager for anti-aging medical beauty.
According to the data of thousands of melons, in the little red book, the total number of notes related to the Gemaji project has reached 169300, with a total collection of 93300.
In 2020, among the compact and anti-aging consumer goods, Gemaji occupied the first place in the anti-aging consumer goods category with a proportion of 75%, up by 137.4% year-on-year, followed by hot plastic lifting, radio frequency skin lifting and other projects.
After trying Gemma, Xin Wei still pays attention to the latest anti-aging medical beauty technology. Recently, she happened to be planted with grass, a relatively small new project Fotona4d pro.
"I have to do Fotona4d pro five times in the first half of this year, but I didn't do it three times. It should cost more than 20 thousand to do it five times. "
Xin Wei admits that after trying the anti-aging technology of medical beauty and seeing the effect, he expects to do it every year in the future. He may spend more money on medical beauty every year, but he will stick to it.
According to the latest report of New Oxygen Data Research Institute, consumers in different cities also have different preferences in medical beauty consumption: first-tier cities prefer firming and anti-aging, new first-tier cities prefer liposuction, second-tier cities prefer eye and nose surgery, and third-and fourth-tier cities prefer wrinkle removal and face-lifting.
However, the anti-aging demand is also sinking. First-tier cities are the vane of other first-tier cities. In the next 2-3 years, anti-aging will become one of the most important needs of women in second-and third-tier cities.
This also means that in the future, the consumption of medical beauty may soon usher in a consumption upgrade, and the consumption amount may continue to rise.
In addition, it is worth noting that in addition to firming and anti-aging, fat is still an important part of medical beauty consumption.
"Thin" is still the "mainstream beauty" in the eyes of the public.
Women's pursuit of thinness plays an important role in the consumption of medical beauty.
"The first time I played stovepipe needle in my freshman year, I spent 2000 yuan to do it in Shijiazhuang. I have been insisting on stovepipe needles until now. "
Xiaoqi has been in contact with medical beauty since high school, loves beauty since childhood, and pays great attention to external image. Since high school, she has developed a strong interest in medical beauty.
When she went to college, she began her first attempt at medical beauty. The first project she tried to transform was the calf that she always cared about. Until now, she has a leg-thinning needle every six months.
In her view, the love of beauty is human nature, and medical beauty is a kind of "Cyberpunk's human body transformation spirit".
Starting with thin leg needles, Xiaoqi gradually tried other medical beauty projects, such as wrinkle needles and liposuction.
In her view, vertical medical beauty apps such as new oxygen make the medical beauty market more and more transparent. Although my personal expenditure on medical beauty has been increasing, it is more cost-effective, and more and more projects can be done with the same money.
In 2020, the consumption of body shaping represented by liposuction defeated the consumption of medical beauty, and the proportion of consumption increased from 33.2% in 20 18 to 59.6% in 2020.
In terms of body-building consumption, women in China also prefer simple and direct surgery to reduce fat. In 2020, the consumption demand of liposuction will account for more than 80% of the consumption of body-building projects.
In addition, liposuction consumption also shows a seasonal trend, and March and August are the periods when women's demand for slimming rises rapidly.
Of course, in addition to liposuction consumption, the proportion of fat filling projects in medical beauty projects is not small. The data shows that 65% of China women's fat filling consumption is spent on their faces.
Why are we optimistic about new oxygen?
Judging from the current situation of the medical beauty industry, the medical beauty industry is still in the dividend period. The trend of medical beauty consumption sinking to the low-end market is becoming more and more obvious.
According to the data of the Institute of New Oxygen Data, in 2020, the number of newly registered users in third-and fourth-tier cities far exceeds that in first-tier and new first-tier cities.
Third, the number of newly registered users in third-and fourth-tier cities exceeded 3.8 million and 4.4 million respectively, while the total number of newly registered users in first-tier and new first-tier cities exceeded 3.5 million. In 20 19, the number of newly registered users in new first-tier cities ranked first.
This just represents the change of medical beauty market pattern in China-the diversification and sinking of medical beauty consumer groups.
In the past, high-speed cities were often the main force of medical beauty consumption, and the medical beauty industry was fiercely competitive. The development of medical beauty consumption in low-tier cities is relatively backward, and there is a lack of high-quality medical beauty institutions.
"Medical beauty projects in second-and third-tier cities are very expensive. If you search for the same project in Beishangguang and second-and third-tier cities, second-and third-tier cities will be more expensive and may be more insecure. The market will not be very transparent and there will be no competition. " After in-depth observation of the current situation of medical beauty in different cities, Xiaoqi came to this conclusion.
The sinking trend of medical beauty is pushing the consumption of medical beauty down. Compared with medical beauty consumers in first-tier cities with relatively mature education, the sinking market especially needs more professional medical beauty guidance and user education. Consumers in third-and fourth-tier cities have become new target users, bringing new users to the new oxygen.
Recently, China Internet Medical Beauty First New Oxygen just submitted its 2020 financial report.
According to the financial report data, in the fourth quarter of 2020, the total revenue of New Oxygen Technology was 425 million yuan, up by 65,438+08.6% year-on-year, setting a new high for single-quarter revenue since the company went public.
However, according to the overall financial report data in 2020, Xinyang's total revenue in 2020 was 654.38 yuan+295 million yuan, an increase of 654.38+02.4% over the previous year's 654.38 yuan +0.565.438 yuan +0.6 billion yuan. However, the net income has declined, from 654.38+767 million yuan in 20 19 to 4.9 million yuan in 2020.
The decline in profits is actually related to the increase in marketing investment, R&D investment and personnel expenses. In 2020, New Oxygen will continue to increase investment to build the core competitiveness of technology, brand and talents.
The data shows that the R&D investment and personnel expenditure of XinYang is 230 million yuan, accounting for about 18% of the revenue, with a year-on-year increase of over 29%. Brand marketing investment was 730 million yuan, a year-on-year increase of more than 50%.
In terms of research and development, offline growth was limited during the epidemic, and the R&D team of new drugs quickly launched a series of online products. It is understood that in 2020, Xinyao AI gadgets will be used more than 1, 2 1 100 million times. Taking the mirror face measurement as an example, its annual use times will exceed 270 million times; The total number of video face-to-face consultations exceeded 98 1 1,000; There were more than 70,000 live broadcasts throughout the year, with a total viewing volume of more than 300 million.
In terms of marketing, in 2020, Xinyao gained more than 1000 billion brand exposure through listing. For example, when advertisements were placed in the hit variety Sister Riding the Wind and Waves, the reading volume of related Weibo topics reached 43.76 billion, and the natural traffic in the station increased by 228% year-on-year.
These inputs have brought new increment to the fresh oxygen. In the four quarters of 2020, the average monthly active users of the new oxygen technology mobile terminal increased significantly, with the year-on-year growth rates of 1 16.8%, 173.7%, 153.7% and 142.3% respectively, all exceeding the overall growth rate of the medical and beauty industry.
On March 22nd and 23rd, Citibank and Deutsche Bank successively released research reports to maintain the "buy" investment rating of Novo Tech. The target price given by these two banks to SY. The US$ 65,438+05.5 and US$ 65,438+06.2 respectively.
On the one hand, the strong consumer demand for medical beauty in China market and the undeveloped sinking market in the second and third tier have brought considerable growth space for new oxygen.
It is understood that the new oxygen has set up a task force to expand the coverage of institutions, regions and products to meet the needs of users.
On the other hand, active communities and users are constantly transfusing new oxygen.
New oxygen is also solving the needs of users with different levels of knowledge and experience through refined operation, and improving user loyalty and retention rate.
In addition, based on the current head effect of the new oxygen APP in the industry, the growth is more obvious. The number of paid medical service providers on its platform is also increasing. At present, there are 4,746 medical service providers, a year-on-year increase of 40.5%.
At the same time, the medical beauty market recovered rapidly. In February of 20021year, the consumption scale of domestic medical beauty market was about four times that of the same period last year.
The annual report issued by China Plastic Surgery Industry Association shows that by 2022, the plastic surgery market in China will reach 300 billion yuan, and strong market demand will drive the rapid development of upstream products and industries.
It can be expected that with the rapid recovery of the medical beauty market, medical American stocks have new capital stories to tell.
(Note: Xiaomei, Xiaoqi and Xin Wei in the text are all pseudonyms. Thanks to Xin Yi for his contribution to this article. )