17. Digital Transformation of Marketing Strategy of Western Firms in Chinese Cosmetic Market

The article analyzes the transformation of marketing strategies as conducted by Western companies working in the Chinese cosmetic market. Such companies are influenced by digital trends in the economy, and largely aim their campaigns at the millennial generation, which is the predominant demographic of their target audience, and requires digitalization in both the tools and methods of communication and distribution. The main aim the article is to analyze the current trends and key factors in this marketing transformation, as they are being implemented by Western companies in the Chinese cosmetic market, driven by the digitalization of the economy. The article’s arguments are based on research establishing the fundamental principles of marketing theory, as far as it works within the modern system of economic, cultural and sociological knowledge, and statistics. Such principles define the bases for scientific theories, structure, and the methods of applying various analytical tools in the field of marketing. Finally, the article proves that digitalization is the most foundational concept for the successful development of business in Chinese cosmetics companies, as it provides the only opportunity for Western companies to meet the rapidly changing conditions of the digital economy, as well as the modern needs and preferences of Chinese millennials. Digital strategies in the cosmetic market in China are a key driver of marketing, as they provide the flexibility needed to respond to ongoing changes and market needs.