Most popular Bain China FMCG market imports steadi

2022-07-23
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Bain: in 2019, China's FMCG market was generally stable and the demand for imported goods was prominent. Release date: Source: Shanghai Securities News. On December 5, the 2019 China shopper report (Series II) jointly released by Bain and Kaidu consumer index shows that Chinese consumers are still enthusiastic about shopping. The total sales volume of China's FMCG market in the first three quarters of this year increased by 4.9%. Among them, the increase of import commodities was especially obvious when the system was launched for new experiments, accounting for 18% of the total sales, always leading the growth rate of categories

according to the report, in the first, second and third quarters of this year, China's total sales of FMCG increased by 2.7%, 6.9% and 5.7% respectively, which is basically the same as that of the same period last year. Among them, in the first three quarters of this year, the food and beverage categories only achieved a growth of 2.3%, while the personal care and home care categories performed well, increasing by 11% and 7.8% respectively. The increase of average selling price is the main factor for the growth of personal care sales, and the increase of sales volume promotes the growth of home care sales

although the sales growth of China's fast-moving consumer goods in the first three quarters increased year-on-year, it still could not offset the impact of the slowdown in the growth of the average selling price. The report shows that the growth rate of the average selling price of fast-moving consumer goods in China has dropped to 3% from 4.6% last year 7%, only slightly higher than the inflation rate

Deng min, global partner of Bain and chairman of consumer goods business in Greater China, said that with the increase of Chinese urban consumers' income, they are more eager to pursue the improvement of health and quality of life. For example, consumers tend to replace monosodium glutamate with healthier oyster sauce, so this year the sales of oyster sauce increased by 30%, ranking first in all categories, while the sales of monosodium glutamate decreased by 4%

Bruno, global partner of Bain, said that although domestic brands still play a leading role in various categories, Chinese consumers' demand for imported goods is growing. "This trend is particularly evident in commodities such as fragrance, wine and milk powder."

in the first half of this year, the growth rate of China's import sales reached 10%, nearly twice the overall growth rate of FMCG. The growth mainly came from online: the online sales of imported goods increased by 30% in the first half of the year, accounting for 35% of the total online sales

Yu Jian, general manager of Kaidu consumer index greater China, said that for brands that have not yet entered the Chinese market or have just started, if they want to succeed in the Chinese market, they must recognize the importance of digital platform as a channel for incombustible inorganic/organic composite foam insulation materials, incombustible exterior wall insulation and decoration board system and brand building tool. "Foreign FMCG companies no longer rely on the market entry mode of more complex offline physical channels in the past."

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