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Cosmetics giant L'Oreal said sales were down by 2.0 percent at 7.04 billion euros in the three months to September.
Consumers now have a wider variety of products to choose from, which means that domestic brands need to upgrade their product portfolio with healthier and tastier options in order to stay competitive, according to the report.
Consumers buy vegetables at a supermarket in Handan, Hebei province. [Photo by Hao Qunying/For China Daily]
Contributing to 10 percent of the total deal value, global PE players are losing out to Chinese financial institutions as well as internet giants, headed by Baidu Inc, Alibaba Group Holding Ltd and Tencent Holdings Ltd, which are shaping up to build their prospective business ecosystems through buyouts and strategic investments.
Consumers aged between 20 and 45 pursue high-quality products, including health foods, and they form the backbone of China's consumption upgrade. This group is willing to pay a premium for branded, top-quality, user-centric products, they said.
来源：资阳报