Spending on FMCG sees 3.6% rise in Q3
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CHINESE consumers spent 3.6 percent more on fast moving consumer goods in the third quarter of 2016 from a year ago, according to a latest report, with e-commerce platforms overshadowing growth in spending via physical store channels.
Lower-tier cities grew by 4.7 percent, faster than the 4.2 percent registered by their higher-tier counterparts, research firm Kantar Worldpanel said in its quarterly report yesterday.
Sales from hypermarkets, supermarkets and convenience stores grew 2.2 percent, slower than the overall market.
FMCG spending via e-commerce sites jumped 63 percent with both JD.com and Tmall increasing their FMCG shopper base significantly.
“We expect both retailers will use Singles Day to ... boost penetration to a new level in the following month,” the report said.
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