Fast moving consumer goods sales increase at slower pace

By Ding Yining | May 12, 2014, Monday |

Online Edition

SALES of fast moving consumer goods sales slowed from a year ago as Chinese consumers became more selective, a report said

Sales value grew 6.1 percent in the 52 weeks through March 21st, down from 10.4 percent last year. There was a 5.8 percent annual slowdown in the food category, consumer research firm Kantar Worldpanel said in a report today.

The moderation in spending was more noticeable in Beijing, Shanghai and Guangzhou compared to inland regions like Anhui, Henan, Guangxi, Guizhou and Yunnan.

Sales of non-alcoholic ready-to-drink beverages gained more than 20 percent in the 8 weeks through February 21 from a year ago as Chinese New Year is a critical season for spending on snacks and beverages.

Cooking and sesame oil sales performed poorly during the holiday season while sales of oyster sauce and olive oil strengthened.

The slowdown was attributed to buyers becoming more cautious about purchase decisions as the macro economy shows signs of weakness.

However, Kantar said consumers are becoming more health conscious, giving brands an opportunity to tap into this unmet demand.

Consumer

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Fast moving consumer goods sales increase at slower pace

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