China’s FMCG market expansion slows
Print Edition
AN economic slowdown and stiff market competition have combined to ease the growth pace of China’s fast moving consumer goods market in the first quarter of this year, a study found.
Chinese consumer spending had risen 4.3 percent over the 12 weeks ended on March 20, down from the 6.1 percent increase over the same period a year ago, consumer research firm Kantar Worldpanel said in its quarterly release yesterday. The lower-tier cities led the growth with a 4.6 percent gain.
Last year, total expenditure increased 5.4 percent, down from 7.4 percent in 2013 as China reshapes its economic structure. The study tracks 40,000 domestic households in 20 provinces and four municipalities on their purchasing behavior of more than 100 product categories.
In the first quarter, consumer spending in key cities and provincial capitals rose 4 percent, 0.1 percentage points higher than the growth a year earlier. Expenditure through channels like small supermarkets and convenience stores is expected to rise with more retailers opening new chain stores in lower-tier cites.
International retailers saw their combined market share falling to 13.5 percent, down from 15.1 percent a year ago amid competition from local rivals.
Chinese companies such as Vanguard Group, Lianhua and Yonghui have expanded their footprint in first and second-tier cities while overseas retailers have slowed their expansion in the domestic market.
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