, China
248 views
Photo by Matheus Cenali: https://www.pexels.com/photo/assorted-vegetable-lot-2733918/

China’s FMCG sector sees ‘soft recovery’: report 

The sector saw a 1% growth in the first nine months of 2023.

The fast-moving consumer goods (FMCG) in China reported a “soft recovery” in the first nine months of 2023 as consumers are most likely spending more on other categories such as dining and travel following the pandemic.

In a report, Bain & Company said the sector saw a 1% growth during the period and a 1.2% increase in volume transacted.

In the third quarter, the FMCG industry saw a slight decrease of 0.9% year-on-year coming from a high 2022 baseline which posted a 6% growth following the easing of the pandemic lockdowns. 

ALSO READ: China electronic brand partners with Target upon expansion into US market

“There are signs of hope. In the first four weeks post Q3, we saw a noteworthy increase of 5% in value, aided by a resurgence in consumer demand due to heightened holiday spending,” said Bruno Lannes, a partner at Bain & Company based in Shanghai.

“Although the increased expenditure during this period was not counted in our data, it suggests an overall continuing expansion of the FMCG market,” he added.

In terms of consumption, meanwhile, Chinese consumers are prioritising products that are “healthy, value-for-money, and exclusive.”

Categories such as chocolate, facial tissue and hair conditioner saw a premiumisation in average selling price, showing that consumers are prioritising better quality and experiences.

Organic, natural and functional foods are purchased more as they are healthier options. Bain & Company added that private-label brands and price promotions are gaining traction due to a preference for value-for-money options.

 

Follow the link for more news on

K3Mart memadukan budaya Korea dan produk UMKM lokal dalam satu gerai

Convenience store itu menyediakan perbandingan produk impor dan produk lokal sebesar 50:50 di 30 outlet mereka.

Meningkatkan penelusuran dan efisiensi manajemen inventaris dengan barcode 2D GS1

Barcode 2D ini berfungsi sebagai penyimpanan data yang kompak.

The Coffee Bean & Tea Leaf menyeimbangkan kualitas dan kenyamanan melalui produk ritel

Mereka memperluas rangkaian produk termasuk berbagai kopi single-origin yang disesuaikan dengan preferensi pemanggangan yang berbeda.

KCG menguasai brand positioning untuk segmen premium di Indonesia

Mereka mengadopsi solusi berbasis teknologi terbaru untuk sukses mengelola 92 toko ritel di 20 kota di Indonesia.

Ini alasan brand-brand mewah meningkatkan investasi AI

Sektor ini telah menginvestasikan lebih dari $360 juta dalam AI selama tiga tahun terakhir.

Bacha Coffee menguasai retail kaya sensorik di Jakarta

Memadukan warisan dan kemewahan, Bacha Coffee Plaza Senayan menghadirkan pengalaman unik bagi pecinta kopi Indonesia.

Bagaimana WCT Malls meningkatkan penjualan tenant melalui pemasaran terarah

Melalui pemasaran terarah, mal ini meningkatkan penjualan tenant dan tingkat okupansi.

Langkah besar untuk GOPIZZA: 2.000 toko di akhir 2024

CEO GOPIZZA bertujuan menjadikan brand tersebut sebagai pizza terjangkau  dan terbaik dari Asia Tenggara ke seluruh dunia.

Peritel harus bersiap untuk ‘commerce tanpa batas’

Ahli dari KPMG memprediksi akhir dari perbedaan ritel online dan offline seiring dinamika keterlibatan konsumen.