Top executives of Vaseline, a 154-year-old skin care brand, said technology innovation, deep market insights and quickly adapting to changing consumer habits have been the major business drivers for the company in China.

In March, Vaseline launched a new body serum Gluta-Hya in China that uses a technology 15 times more powerful than vitamin C to mitigate the causes of dull skin.

The product's sales revenue exceeded 50 million yuan ($7 million) within 100 days of launch. In less than six months, the product has already witnessed repeat purchases.

Premium products such as Gluta-Hya have supported Vaseline's double-digit growth in the first six months, its parent company Unilever said in its first-half financial report.

"Technology is the major business driver for Vaseline," said Yan Yu, Vaseline's senior brand manager in China.

It took about 10 years for Vaseline to do the basic research for the new technology.

The good news is, 75 percent of its products can be launched within six months of completing a longer period of research and development in the lab, said Shi Yibing, skin care R&D manager at Unilever China.

Among the 150-plus Stock Keeping Units that Vaseline sells at present, more than 20 were launched this year.

Unilever's 30,000-square-meter R&D center in Shanghai, with an investment of over $100 million, can take some credit for this.

"Unilever's China R&D center is highly competitive in China in terms of innovation speed," Shi said.

Part of the reason is due to the need to address demands from Chinese consumers. Directly taking product recipes from other markets can no longer meet the needs of Chinese consumers, especially young females. They are more concerned about the ingredients, mode of action and proven efficacy, according to Shi.

"Professionals working in the Chinese skin care industry have become more science-driven and rigorous. This has helped create a competitive and end-to-end innovation ecosystem in China, enabling the country's skin care science to take the world's lead in some aspects," she said.

Therefore, products designed by the China R&D center have been promoted to many other regions, like Southeast Asia, according to Shi.

Consumers in lower-tier Chinese cities have also shown a special interest in Gluta-Hya, which is priced below 100 yuan on its official online store.

The product's unique scent is one reason for its success, according to Yan.

International market consultancy Bain & Company has found that the fast-moving consumer goods industry is growing rapidly in second-tier Chinese cities. One major reason is the relaxed household registration policies in these regions, according to the company's partner Bruno Lannes.

"These cities have attracted more younger people and even innovative companies, bringing more vitality to the local economy. Therefore, we hold a positive outlook on the FMCG industry in these cities," he said.

More demographic changes are taking place in the Chinese consumer market, said Yan.

While "mothers with sophisticated demands and chic white-collar professionals aged between 20 and 40" are the target consumers for Vaseline, consumers using skin care products in China have become younger with the expansion of consumers aged between 18 and 24.

This has also contributed to the rise of lifestyle retailers such as Miniso and KKV, which are frequented by younger female consumers.

These retailers have contributed more to the sales of Vaseline's cutely designed lip balms and hand creams. Each purchase may be less than 100 yuan, but it also means less pressure for consumers. This also complements Vaseline's sales in China, most of which still come from e-commerce channels.

Among online platforms, Vaseline has noticed strong growth in Douyin's e-commerce channel, according to Yan.

"Consumers look for products on traditional e-commerce platforms. But Douyin e-commerce, which the market defines as interest-based e-commerce, finds the precise target consumers and tells them what they need in visually appealing ways," said Yan.

Yan said the idea of "seize the day" is now more deeply rooted among Chinese consumers. Amid a global economic slowdown, Chinese consumers are less attracted by so-called 'cost-effective' products. Rather, they are drawn to products with reasonable quality-to-price ratios.

A flip side of the coin is that Chinese consumers have shown an increased preference for products or brands that give more of an "emotional value", according to Yan.

"Little treatments or some me-time, like a 10-minute skin care routine before going to bed, will help us to keep going in times of difficulties," she said.

"But technology and quality are always of utmost importance. It will help brands going through economic cycles," said Yan.