Export and Import Practices
Hong Kong's cosmetic and toiletries market had an estimated value of $787 million in 2002. With little domestic production of cosmetics and toiletries, Hong Kong relies on imports from China, Japan, the United States, France, Singapore, Malaysia, and Taiwan. Industry sources expect import growth to continue in the coming years despite the economic slowdown in Hong Kong. The constant demand from mainland Chinese tourists will also drive the growth of imported cosmetics and toiletries.
The best prospects in Hong Kong will be in hair coloring products, skin-whitening products, nail products, color cosmetics, permanent eye makeup, and skin care products for professional beauty salons. U.S. skin care and hair care products have a reputation for quality, innovation, competitive prices, stringent quality control, and safety. While Japan is currently the market leader in color cosmetics, France is the leading perfume supplier to Hong Kong.
According to U.S. government statistics, Hong Kong was the United States’ 15th-largest trading partner and 13th-largest export destination in 2001. U.S. exports to Hong Kong totaled $14.1 billion in 2001, and bilateral trade totaled $23.7 billion. U.S. exports to Hong Kong in the first quarter of 2002 were down 18.2 percent over the previous year due to sluggish domestic consumption and capital investment.
There are no import tariffs or product registration requirements on cosmetics and toiletries in Hong Kong. Hong Kong accepts U.S. product labeling and there is no local mandatory labeling or registration requirement on cosmetic or cosmaceutical products. As long as the cosmetic product or cosmaceutical product does not claim to cure a medical condition on its labels, its promotional materials or in its package inserts on usage instructions, registration is not required. Imports from the United States fell to $92 million in 2002, yet the United States remained Hong Kong’s third-largest supplier. With U.S. and third-country companies increasingly manufacturing their cosmetics and toiletries in China and other low-cost Asian countries, imports from the United States should continue to decline in 2002 and onwards. More often, 43 percent of Hong Kong’s cosmetic imports are re-exported, 15 percent of which are re-exported to the Chinese market.
The Hong Kong market is well worth targeting on its own, ne...
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...ave no incentive to shop on-line; there is no price advantage and they cannot inspect products. The major selling factors are the same as in the United States: price, quality, timeliness in delivery, and service. Initial sales require more face-to-face contact, as Asians generally place a premium on developing personal connections. Some sort of local presence, whether it is a branch office or an agent or distributor, is very important in getting established in the market. Business in Hong Kong (and elsewhere in Asia) requires relationships that can only be developed with some kind of local presence. Prompt after-sales service is also crucial to succeeding in this very competitive market.
U.S. manufacturers looking to increase their market share or those new to the cosmetic industry market should consider organizing promotional activities jointly with department stores. They should support these activities with free samples and promotional literature. Make-up demonstrations by overseas make-up artists and makeovers at cosmetic counters within department stores and product launch events featuring visits by celebrities to the retail outlets are also well-received by local consumers.
It is imperative that Health Care Professionals learn to manage risk. There are many factors to think about including environment, assessment, identification and prioritising when managing risk. Being able to strategically implement preventative measures will help in managing risk. Risk management works hand in hand with all enablers set out by chapelhow.
Norman the older brother of the Maclean household is very responsible. Norman is an obedient
Risk management is the system in which companies assess potential liabilities within an organization (Raso, Gulinello, 2011). Through this process information is gathered, assessed, and implemented to avoid these potential risk. Risk managers are beneficial to their organizations because not only do they save money but they can also save lives. In the hospital setting where mistakes can cost someone their lives, risk managers work to develop protocols to help prevent human error. Information is gathered through the process of evidence based practice as well as guidelines in place by best practice. Not only do they help protect the lives of the patients within the facilities, they are also responsible for ensuring staff safety. A risk manager’s responsibility is multi-faceted and complex. They will prevent potential litigations by implementing patient safety protocols, reduce risk to associates, and reduce cost to the organizations.
US-China Business Council, Inc. "US-China Trade Statistics and China's World Trade Statistics." US-China Business Council. 1 March 2010 .
United Kingdom. Committee of Advertising Practice. Committee of Advertising Practice. Accessed November 18, 2013. http://www.cap.org.uk/Advice-Training-on-the-rules/Advice-Online-Database/Cosmetics-The-use-of-production-techniques.aspx.
National economics are often adversarial in nature, a global contest where countries seek to gain advantage over their neighbors, all in the name of wealth and gain. America is no stranger to the game; the U.S. has been the world’s economic leader for the better part of a century. China, however, is the leading contender for the economic top-spot (), and America continues playing directly into China’s hand. America’s current trading posture with China is drastically skewed in China’s favor; if America is going to preserve its position as the leading economic power, existing U.S.-Chinese trading agreements will need to be revised, and additional regulations must be introduced to promote balanced dealing.
Mary Kay Cosmetics is a company known for providing women with exceptional opportunities for professional achievement and economic success and rewarding women for their success. Mary Kay Cosmetics uses several programs to motivate, recognize, and develop its beauty consultants, which include recognition in a monthly magazine, annual events, gifts and prizes and most importantly, financial incentives. At the heart of the financial incentives Mary Kay provides is the three car programs offered to beauty consultants at different stages of their career. The car programs have proven to be effective motivators; however the costs to the company have skyrocketed as the number of car winners as a percentage of beauty consultants has doubled, despite increases in program qualification requirements. The VIP car program is the main cause of concern for May Kay because of the large number of leased VIP cars, high interest rates and insurance premiums, and large losses on cars in service for short periods of time. Mary Kay's top management is now faced with finding a solution to rising program costs of their powerful incentive plan while maintaining sales force moral and motivation. The key issues that must be considered in finding a solution to the high costs of Mary Kay's Marketing Plan are how beauty consultants will respond to changes in the incentive plan and how implementing the necessary changes will affect the sales force.
The beauty industry has great opportunities for companies wanting to profit from the growth and resiliency of the sector. Finding the right niche is important for becoming visible in the industry. Communicating the unique selling point to the target group will distinguish the company from the competition so it can survive. Also, product sales are needed to earn revenue beyond the service income. The success of Sugar Wax Salon will rely on its ability to offer a beneficial service, create the right products, and promote them to the right people at the right price.
Marijuana legalization has become a hot topic in today’s news with United States government stating that marijuana prohibition is justice, and cancer patients claiming that cannabis is the most effective medicine. But with a death toll equaling 0 compared to alcohols high score of
By learning from its defeat in Germany, Walmart has been able to make progress in its strategy to expand into the Chinese market, which also has a substantially foreign political and cultural environment. Along with its financial capability, advanced supply chain management capability, and information technology capability, Walmart adapted its business strategy to align itself with the local taste. For example, Walmart sources about 95% products locally and hires Chinese citizens to manage its stores. Due to the heavy pollution and poor safety management, Chinese customers are concerned about the quality of products made in China. Walmart developed private label brands priced 10%-40% cheaper than national brands which positively impacts Chinese customers by providing them with high quality products and low prices. (2015, Wal-Mart And China: A Story Of Missing Customer Trust) Currently, Walmart is the third largest retail chain in China, and plans to open 115 brick-and-mortar stores between 2015 and 2017. (2016, Wal-Mart talks Up China Commitment) Walmart also plans to push up its e-commerce business to leverage its huge global product network. But even then, to ensure its future growth in China, Walmart needs to continually monitor its multicultural
Risk Managers identify, evaluate, prioritize, and control risks that impact resources or members of an organization (University of Wisconsin, 2013). In more ways than one, risk managers are important for accessing problems and predicting the magnitude of the anticipated outcome. In the case of an emergency situation, ultimately the unwanted outcome would be loss of life. Risk managers are the key members to prevent loss, damage, and negative outcomes. Regardless of the type of emergency medical service risk managers must manage some degree or risks. According to the University of Wisconsin (2013), there is no single method or solution defined to effectively manage risks.
HairCare Products stand to capitalize on an open market in China’s beauty and personal care section. With nearly half of its one billion plus population female, HairCare Products can monopolize this market in China if the company offers the Chinese consumer what they really want; natural products. According to Mintel’s report, a global provider of market research, “Eighty-one percent of urban Chinese consumers prefer to purchase all-natural products”. This is an astronomical number that cannot be ignored, if HairCare Products decides to enter the fray of the Chinese beauty and personal care market. Mintel also reports, “Eighty-seven percent of its middle class tend to go for premium rather than standard goods or services”. According to Mintel’s information, if HairCare Products can produce an all-natural product and all-natural product with a heftier price tag, they can corner or capture two major sections of the Chinese beauty and personal care market.
Makeup has many different purposes, and large companies like Sephora, divide these makeup products into different categories that concern individual needs. Cosmetic stores like Sephora have specific products for different types of skin. Some for oily, dry, combination, acne prone, or scarred skin. Hundreds of makeup brands specifically design their cosmetics to fulfill the needs of their clients, and a huge need in the world today deals with
The US and Western European markets are reaching saturation- therefore cosmetic companies see the future markets for their products in Central and Eastern Europe, Chi...
From the ancient Egyptians who used copper and lead to create the world’s first cosmetics to the merchandise that was scientifically progressed over time that can do anything and everything from hiding large pores, smoothing your face’s complexions, and turning the dull green of your eyes into a lively shade of emerald. Makeup has been an essential part of humanity for over thousands of years. Cosmetologists, chemists, fashion designers, religious leaders and governments has had an unbelievable impact over the world of cosmetics with about ten thousand years of experience. Because it is in human nature to find new ways of expressing ourselves in an artistic way and to always aim for perfection. Cosmetics has played a really big part part in our advancements from ancient civilization to the modern way of living our lives.