Slow rise in spending on FMCG
Print Edition
Chinese consumers raised their expenditure on fast moving consumer goods by 7.4 percent last year as economic growth slowed, consumer retail consultant Kantar Worldpanel said in a report yesterday.
The growth in 2013 was slower than the 14 percent expansion in 2012, the firm said.
The top-10 retailers accounted for 56 percent of spending through domestic retail channels within key cities, including Beijing, Shanghai, Guangzhou and Chengdu, but they only garnered a 16 percent share in provincial-level cities. The firm suggested that consolidation is likely to increase in the lower-tier cities this year.
“Consolidation is a natural part of retail evolution as markets develop and retailers continue to expand their footprint and acquire smaller players,” the report added.
Sun-Art Group, which operates RT Mart and Auchan on China’s mainland, had the largest market share of 8.3 percent in the year ended on December 27, up from 7.8 percent a year ago.
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