Summary of the Core Content
Memfa Family has risen rapidly thanks to its clear brand identity as a "mask" company. However, as the skincare market has shifted from competing on individual products to focusing on a broader range of categories and product efficacy, the brand has encountered difficulties in transitioning from being a specialist in masks to a comprehensive skincare brand. Although it has expanded its product line to include cleansers, lotions, serums, and more, consumers still perceive it primarily as a mask brand, with over 80% of its revenue coming from masks alone. The article analyzes the underlying reasons for this situation and proposes two possible solutions.
1. Product Expansion Without Changing Consumer Perceptions
Memfa Family is no longer just a mask company. Since opening its first physical store in 2012, it has gradually introduced a full range of skincare products to support a complete skincare routine. It has expanded into anti-aging, whitening, and barrier repair categories, even setting prices as high as 1818 yuan to cover almost every aspect of skincare. Yet, consumers do not recognize these additional products. In the first half of 2018, masks accounted for 85% of its revenue; by 2023, although it offered a variety of products, masks still made up more than 89% of sales in its physical stores. Consumers who visit the store to experience a full skincare routine ultimately buy masks. Even its most resource-intensive product line, the Dual-Fission Yeast series, focuses mainly on masks, with no single non-mask product gaining significant recognition.
2. Why is Expanding into a Full Range of Products So Challenging?
Many believe that the brand name "Memfa Family" is limiting its growth, but the article argues that the real issue lies in the inertia associated with its mask-centric business model:
- Masks perform multiple functions: While for other brands, masks are used to attract new customers, Memfa Family relies on them as both a revenue generator and a core product. As long as masks continue to be profitable, the company is reluctant to invest in unproven new categories.
- Lack of capability transfer: Masks are low-cost, quick-to-sell products that can be promoted effectively through sales promotions and live broadcasts. In contrast, high-end serums require consumer trust in ingredients and visible long-term benefits, which necessitate more extensive marketing and in-store experiences. Memfa Family is adept at selling masks but struggles to apply the same strategies to higher-value skincare products.
- Price structure constraints: Consumers are accustomed to buying Memfa Family masks at discounted prices, so they are skeptical when seeing expensive serums. The brand's reputation for affordability and immediate results does not transfer to its newer products.
- Channel suitability: The company started on Taobao and operates physical stores designed as "mask experience centers," which are better suited for selling masks rather than high-value serums.
3. Comparing with Competitors
Comparing Memfa Family with other brands makes its situation clearer:
- Vinoora: Also starting with masks, Vinoora has successfully established itself as a specialist in sensitive skin skincare, with masks accounting for less than 20% of its revenue now, and its special care creams and serums being the main drivers of growth.
- Fujia: Although 70% of its revenue comes from masks, its R&D investment is low, and it has remained stuck in the "medicated mask" category, unable to make a successful transition.
Memfa Family is caught in a dilemma: it wants to expand but lacks a clear brand identity that spans all its products, like Vinoora does. It also hesitates to abandon its mask-focused business model, similar to Fujia's approach.
4. Two Possible Paths for the Future
The article suggests two ways to break this deadlock, both centered on focusing on specific areas:
- Strengthening the Mask Expert Positioning: Instead of trying to move away from masks, the brand can enhance their value by upgrading ingredients or targeting specific skincare needs (e.g., anti-aging or repair). This would reinforce the perception that "Memfa Family = high-quality masks."
- Creating a New Brand: The parent company, Shanghai Yemu, could launch a new brand to sell higher-value products like serums and creams, breaking away from the association with Memfa Family as just a mask brand. This would help rebuild consumer trust.
The article emphasizes that the key is to make a clear choice and commit to it without wavering. The brand name, once a powerful tool for market expansion, has become part of its inertia. What truly limits Memfa Family's potential is its reliance on masks as its main source of revenue.
(The translation maintains the original Markdown structure and uses natural, financial journalism-style language to convey the analysis clearly.)