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China’s FMCG sector sees moderating growth in 2016
Online Edition
CHINA'S fast moving consumer goods expenditure in 2016 grew 2.9 percent annually, slowing from a 3.5 percent growth a year ago, marking the slowest growth in the last decade, consumer research firm Kantar Worldpanel said in a report today.
Traditional retail channels including hypermarkets, supermarkets and convenience stores had a combined growth rate of merely 0.7 percent, as they were squeezed by a moderating economy and a rapidly growing e-commerce.
Local retailers have been gaining position with Sun Art Group, which operates Auchan and RT-Mart brands, continues to top urban China's market with a 7.7 percent share, followed by Vanguard Group's 6.4 percent.
Walmart saw its market share rebounded to 4.9 percent from 4.8 percent a year ago as a result of more focus on China’s hinterland and a more aggressive online-to-offline strategy.
Yonghui remained the fastest growing player in 2016, rising 0.6 percentage points to 2.8 percent by the end of 2016 thanks to 79 new stores opening in the past year.
As many as 53.5 percent of China urban families have purchased FMCG online, 10 percentage points higher than the previous year and mobile commerce continues to be the key driver of e-commerce and has helped to drive even stronger consumer adoption in lower cities, the report shows.
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