COSMOPROF ASIA, a global beauty industry exhibition, which was suspended for two years, will be held as a special exhibition in Singapore in November. The exhibition has been held in Hong Kong for 24 years.
COSMOPROF ASIA, the Asia Pacific beauty show in Hong Kong, which has been suspended for two years, has finally restarted. However, the exhibition in 2022 will be held in Singapore in November in a special form.
Public information shows that COSMOPROF ASIA has been held in Hong Kong for 24 times so far. As a global beauty industry exhibition, it has been an important presence in the exchange and interchange between Chinese cosmetics and international markets, especially the Asian beauty market. Cosmetic-related exhibitors and customers from around the world will gather in this exhibition every November. Data shows that in 2019, 2,955 exhibitors from 48 countries and regions gathered in the exhibition. 24 national and regional pavilions with 40,046 visitors from 129 countries and regions were also participate in it. However, the scale of this year’s exhibition was significantly reduced compared to 2019.
However, over the past two years, the situation in Hong Kong has been less stable. With the pandemic being out of control, and the offline exhibition of COSMOPROF ASIA had to be put on hold, and the two editions of the exhibition in 2020 and 2021 were only available online. After two years, COSMOPROF ASIA is finally going to restart the offline exhibition, and it will be moved from Hong Kong to Singapore.
For the move to Singapore, the organizer explained that it was mainly due to the pandemic-related travel restrictions and quarantine measures that may bring inconvenience to international exhibitors and buyers coming to Hong Kong to participate in the show in November. In order to ensure that participants can enjoy a better show experience, it decided to move the show to Singapore.
According to reports, the recent pandemic situation in Hong Kong has worsened with 55,353 new confirmed cases of COVID-19 in Hong Kong on March 2, a record high for a single day. Data also shows that the impact of the pandemic and global travel restrictions, the number of visitors to Hong Kong from January to September last year reached about 63,000, an overall year-on-year decline of 98.2%.
Due to the decrease in the number of visitors to Hong Kong, the retail industry in Hong Kong has been underperforming in recent years. Data show that since 2019 to November 2020, Hong Kong’s retail industry has fallen for 22 consecutive months. Also according to the GovHK’s Census and Statistics Department, drugs and cosmetics fell 40.9% in December 2020 compared to December 2019. News of store closures and layoffs are also frequently shown among the once-vibrant Hong Kong cosmetics retailers.
It’s safe to say that Hong Kong is no longer a scenic place in many respects, and it’s not hard to understand why COSMOPROF ASIA has changed to Singapore.
So, is this a temporary move, or will Singapore become the new base for COSMOPROF ASIA?
The person in charge of COSMOPROF ASIA in Guangzhou said, “This is not very sure. This is a special exhibition. As for the specific place where the next-year exhibition will be held will depend on the company’s top management.” Another person in charge of the exhibition investment, said, “the exhibition held in Singapore is only temporary. After the pandemic in Hong Kong can be controlled, it will be held in Hong Kong.
Due to the suddenness of the incident, many Chinese industry insiders were surprised by the change of location of COSMOPROF ASIA. And a number of Chinese companies clearly stated that they will not go to participate.
In fact, as early as two years ago, COSMOPROF ASIA was not as popular as before. In 2019, due to the unrest in Hong Kong, 100 companies jointly requested to cancel their participation, but COSMOPROF ASIA was held as usual as scheduled. The final effect of the show was predictable, and its popularity was greatly reduced. And after the outbreak of the pandemic in 2020, the number of confirmed cases in Hong Kong continued to increase making the two-year offline exhibition not held.
Many industry sources said that for the Asia-Pacific cosmetics market, the current market is still mainly Chinese. Many Chinese beauty companies do not participate this year, which may cause some losses to the organizers. According to the organizer’s forecast, the show will have more than 1,000 exhibitors and 15,000 visitors. Compared with 2019, the scale is significantly reduced.
And from the perspective of the broader environment, as infrastructure such as China’s e-commerce, live streaming, cross-border trade and others continues to complete, there are many ways and means for Chinese beauty brands going global or other international brands importing the Chinese market. The golden era for the exhibition is gone.