Cautious consumers choosy over spending
Print Edition
THE growth rate in the sales value of China’s fast-moving consumer goods slowed from a year ago as consumers became more selective over their purchases, according to a latest report.
The sales value rose 6.1 percent in the 52 weeks through March 21, down from the 10.4 percent growth in the same period a year earlier, with the food category falling 5.8 percent, consumer research firm Kantar Worldpanel said in a report yesterday.
The spending on consumer goods slowed because buyers were more cautious about expenses due to the weak economy. The slowdown was notable in first-tier cities, including Beijing, Shanghai and Guangzhou, than inland regions like Anhui, Henan, Guangxi, Guizhou and Yunnan.
The sales of non-alcoholic ready-to-drink beverages rose above 20 percent in the eight weeks ended on February 21 from a year ago as spending on snacks and drinking rose during the Lunar New Year.
The overall spending on cooking and kitchen-related categories was hit due to the trend of traveling overseas.
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