Despite slowing GDP growth, China's spending on FMCG grew by 4.9% through the first three quarters of 2019, with sales of imported FMCG products growing twice that fast, according to Bain & Company and Kantar Worldpanel’s annual China Shopper report, titled 'Despite slowing GDP Growth, China consumers keep spending'.
Online sales of imported FMCG products are particularly hot:
In premium categories, imports have a higher value share:
Imports are growing faster than their overall categories:
Brands that have not yet penetrated China can chart a path to success by emphasising digital platforms as both a channel and a brand-building tool, according to the report authors.
“By concentrating on selling online, foreign FMCG companies gain traction in China without the need to build a complex physical route to market model,” said Jason Yu, MD of Kantar Worldpanel Greater China and co-author of the report.
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