美妆行业：疫情无扰成长可期-220901（58页）.pdf

1、?盟?S1130520120001?DATE?2022?9?1?0UOZWZ2V2UpNtRaQ9R9PtRqQpNtRfQpPxOlOrRoMbRnMoOxNmMpONZmPqQ?n?-?&?/?p 9?映?Q3?/?务?Q3?+?+?务?23?/PO/?/?C?/?EHT/PA?n?-?/?/?p 7?25.38%?37.83%?4?47?1?CVD?的?务?2?p?/?/?/?撰?22?模?告?的?/?n?-7?+22%?20?/?/?p 7?22.1%?6?+8.1%?1?7?+?夫?2?p?7?&?7?2%?0.5%?23%?6?4.7%?8.1%?3%?7?p?7?2020?撰?务

2、?Q2?Q3?u?/?/?导?/?的?/?/务?研?/?导?n?-?&?/?p Q3?/?Q3?+?务?23?128?26%?n?-?/?/?p?的?&?务?/?/?n?-?/?/?p?7?2020?撰?务?Q3?务?/?6?7?p 3?6.3%?4?/5?22.3%/?11%?6?8.10%?撑?7?0.7%?1H22/1-7M22?2.5%/?2.1%?22Q1?1.8%?p?务?/?研?研?2.3%-2.1%1.5%0.6%1.4%6.6%-5.6%-8%-6%-4%-2%0%2%4%6%8%10%12%限额企业化妆品金银珠宝体育、娱乐用品类家用电器和音像器材类文化办公用品类服装鞋帽针纺

3、织品类1Q221H221-7M227.5%0.7%-30%-20%-10%0%10%20%30%40%50%2019-022019-042019-062019-082019-102019-122020-022020-042020-062020-082020-102020-122021-022021-042021-062021-082021-102021-122022-022022-042022-06限额以上企业化妆品?9?p 7?2%?/?7?+?+?249?2.0%?Q1/Q2?Q1/Q2?2.4%/1.7%?6.18?p 7?/?/?&?&?67%/22%/11%?-8.6/+11.4/-

4、2.8PCT?/?研?研?研?平台品类22-0422-0522-0622-0722Q122Q2护肤（亿元）121126279118.7432525护肤yoy-16.9%-16.1%-5.4%-9.1%-12.0%-11.0%彩妆（亿元）42507448.3190165彩妆yoy-35%-27%-20%-21.5%-13%-26%护肤（亿元）39.649.750.938.6108.6140.2护肤yoy216%213%156%97%268%181%彩妆（亿元）10.515.115.116.335.040.7彩妆yoy146%189%171%117%249%180%美妆（亿元）25.639.252

5、.427.2114.191.6yoy-16%-10.5%22.8%-22.0%3%6%护肤32.8%39.4%18.3%32.5%25.2%26.7%彩妆25.2%30.4%20.5%33.7%18.4%24.6%护肤（亿元）160.1175.8329.4157.3540.2665.3护肤yoy1.6%5.8%4.8%4.7%3.9%4.3%彩妆（亿元）52658964.6225.17206彩妆yoy-23.8%-11.3%-9.2%-6.4%-1.2%-14.0%美妆（亿元）238280471249879963yoy-7.3%-1.1%3.5%-2.0%2.4%1.7%淘系+京东+抖音淘系抖

6、音京东抖音占淘系比重淘系+抖音?/?&?n?Q2Q2?4 4-5 5?/?Q1Q1的?的?p?1Q22?10.6%?3.8?封?2Q22?3.1%?/?/?务?p?1Q22/2Q22?16.2%/?47.7%?务?研?Wind?研?Wind?-10%-5%0%5%10%15%20%25%30%35%40%0100200300400500600201720182019202020211Q21 2Q21 3Q21 4Q21 1Q22 2Q22化妆品板块营收（亿元）yoy（右轴）-70%-60%-50%-40%-30%-20%-10%0%10%20%30%40%0500100015002000250