Signs of spring in China’s 2023 FMCG sector signal optimism
Bruno Lannes
Senior Partner at Bain & Company based in Shanghai
Although the first quarter’s value growth rate might appear modest, the story is very different on a month-by-month basis. While January consumption was severely affected by a Covid outbreak, the FMCG sector started its growth trajectory in the months after. Full recovery will take time, and we think the first quarter numbers are tracking well.
In April, the year-on-year FMCG growth rate reached 5.1%, in line with pre-pandemic levels. Overall retail sales, excluding auto, also saw impressive growth at 16.5%.
Packaged food and home care continued to grow; personal care and beverage showed signs of recovery
Deflationary pricing trend across categories further diverged
E-commerce reaccelerated, club warehouses soared, and O2O sustained growth
Derek Deng
Partner and Head of Consumer Product practice in Greater China
Chinese consumption is recovering, and the government has already implemented stimulus policies to boost consumption, with more expected. The FMCG industry continues to demonstrate resilience, and consumers, brands, and retailers adapt to ever-changing circumstances. The industry’s recovery is likely to take shape over the coming months, repeating a few trends from the first quarter of the year.
——Report download——
Scan QR code to download the report
最新评论
推荐文章
作者最新文章
你可能感兴趣的文章
Copyright Disclaimer: The copyright of contents (including texts, images, videos and audios) posted above belong to the User who shared or the third-party website which the User shared from. If you found your copyright have been infringed, please send a DMCA takedown notice to [email protected]. For more detail of the source, please click on the button "Read Original Post" below. For other communications, please send to [email protected].
版权声明:以上内容为用户推荐收藏至CareerEngine平台,其内容(含文字、图片、视频、音频等)及知识版权均属用户或用户转发自的第三方网站,如涉嫌侵权,请通知[email protected]进行信息删除。如需查看信息来源,请点击“查看原文”。如需洽谈其它事宜,请联系[email protected]。
版权声明:以上内容为用户推荐收藏至CareerEngine平台,其内容(含文字、图片、视频、音频等)及知识版权均属用户或用户转发自的第三方网站,如涉嫌侵权,请通知[email protected]进行信息删除。如需查看信息来源,请点击“查看原文”。如需洽谈其它事宜,请联系[email protected]。