Consumer spending on fast moving consumer goods rebounds 5.5 percent annually in Q3
Consumer spending on fast moving consumer goods rebounded 5.5 percent in the third quarter compared to the same period last year, according to Kantar Worldpanel’s latest figures.
Sales through modern trade grew 3.1 percent from 1.9 percent rise in the same quarter last year, while spending at supermarkets gained 3.9 percent and that at convenience stores climbed 4.8 percent.
Supermarket chain Yonghui continued to grow the fastest, with its sales jumping 11.1 percent while RT Mart helped boost Sun Art Retail's growth pace to 5.7 percent and helped to consolidate its leading position among supermarket chain operators by the absolute number of shoppers. Vanguard came in the second place, followed by Walmart, Yonghui and Carrefour by number of shoppers, the figures showed.
Transactions of FMCG through online channels jumped 26 percent, and ranked again as the fastest growing channel for FMCG sales.
As high as 30 percent of urban Chinese families bought FMCG through e-commerce channels in the 12 weeks ended November 3 amid high penetration level as lower tier city residents were quick to adopt online shopping.
Meanwhile, competition among domestic e-commerce players is also intensifying. JD is catching up with Alibaba's B2C site Tmall in terms of online consumer goods sales and both are teaming up with brick-and-mortar retailers to drive online and offline synergies.
