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Consumption of daily necessity goods slows in China
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Chinese consumers spending of fast moving consumer goods grew a mere 2 percent in the first quarter from a year go, with the western region growing faster than the coastal cities, a latest study shows.
International retailers, which saw their combined market share drop 0.3 percentage points to 13.2 percent from a year ago, are showing sign of recovery, market research firm Kantar Worldpanel said in its quarterly release.
Sun-Art Group remains the leader with 9.3 percent market share compared to 7.8 percent a year ago, followed by Vanguard Group's 6.4 percent. Wal-mart's quarterly shares edged up 0.2 percentage points from a year ago to 5.0 percent by the end of March this year.
Regional players such as Yonghui and WSL Group maintained their growth momentum and they're expected to close the gap between leaders such as Wal-mart provided that their expansion strategies are executed properly.
Expenditure of consumer goods through e-commerce channels surged 48.1 percent thanks to higher adoption of online purchasing, and online retailers are also offering various kinds of discounts to woo buyers.
County level cities saw fastest growth of e-commerce spending after e-commerce players pushing hard in these regions to develop demands and to beef up logistics capabilities.
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