China's FMCG market recovered steadily in Q3
China's FMCG market recovered steadily in Q3, and the competition in O2O escalated further
The latest report released by Kantar Worldpanel shows that the fast-moving consumer goods (FMCG) market in urban China maintained a steady development trend in the third quarter, with a year-on-year sales growth of 0.5%.
The latest data released by the National Bureau of Statistics also indicates that the retail sales of consumer goods in urban areas increased by 3.3% in the first three quarters, and the contribution of final consumption expenditure to China's economic growth was 49.9%. However, insufficient domestic demand is also affecting the full recovery of the FMCG market.
In the first three quarters, the overall FMCG market sales grew by 1.8%.
At the region and city levels, the East and West regions showed impressive sales performance, with increases of 5.0% and 2.9%, while county-level cities and town-level cities demonstrated relatively steady performance.
The beverage and household cleaning categories continued to maintain a good momentum in the third quarter, growing by 5.5% and 5.1% respectively. While dairy and personal care products are facing more serious growth challenges.
Rachel Lee
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General Manager of Kantar Worldpanel in China