FMCG sales skid as shoppers turn to online
Print Edition
SALES of fast moving consumer goods have been slowing in China, with online retailers eroding market shares of bricks-and-mortar stores, Bain & Co and Kantar Worldpanel said in a report yesterday.
The FMCG market rose 4.7 percent year on year in the first half, down from the annual gains of 5.4 percent for 2014 and 7.4 percent for 2013, the report said.
Meanwhile, sales through e-commerce jumped 33.6 percent. Although it fell slightly from last year’s 34 percent, they still ate into the revenue of traditional retailers.
The report said 40 percent of the growth in e-commerce sales was contributed by shoppers who would otherwise purchase in stores, and the remaining 60 percent was due to new purchases that shoppers would not have made without the digital option.
“The proportion of shoppers shifting from bricks-and-mortar stores to online shopping is on the rise,” said Bruno Lannes, a partner of Bain and co-author of the report. “China’s online retail world is being shaped by digital consumers’ distinct preferences and habits.”
The report found that shoppers tend to buy more premium, imported and larger package goods from online stores.
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