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Growth of consumer goods slow in China, report says
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SALES growth of China's fast moving consumer goods dropped to 5.4 percent last year from 7.4 percent in 2013, with a shift of growth momentum in different regions in the country, a latest study shows.
E-commerce channel recorded an annual growth rate of 34 percent, compared to a mere 5.1 percent from modern sales channels including hypermarket chains, supermarkets and convenience stores, market research company Kantar Worldpanel said in a report.
Sun Art Group, which operates two hypermarket chains RT Mart and Auchan in China's mainland, continues to take the biggest market share of 8.6 percent among urban retailers.
Vanguard Group, which includes Tesco China's outlets, has a 7.9 percent market share, followed by Walmart's 6.2 percent.
Collectively, multinational retailers' market share dropped to 19 percent from 20 percent a year ago, and all retailers have been going through a slowdown in consumer demand.
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