Local brands dominate list of China's most chosen
Local brands dominated the list of the top 10 most chosen brands in China as new entrants successfully expanded their customer bases with new product launches, a recent report says.
Yili continues to top the list and managed to grow its consumer reach points by 6 percent, while Mengniu and Master Kong maintained 2nd and 3rd rank, according to Kantar Worldpanel’s Brand Footprint, which tracks the most frequently purchased brands by the most consumers.
Nongfu Spring is the fastest growing brand, as it successfully extended its consumer reach in the past year thanks to its continuous efforts in new product launches.
“China’s FMCG market recovered last year with many of the leading brands struck back," said Kantar Worldpanel China managing director Jason Yu. "A growth strategy based on winning new consumers is more effective than one that aims to enhance loyalty or purchase frequency."
The data was collected through households in 43 countries and looked at their purchasing of 18,000 brands including beverages, food, dairy, health and beauty and homecare.
Globally, 17 fast moving consumer goods brands are chosen by consumers more than one billion times a year across all markets, with Coca-Cola and Colgate being the two leaders.
Data shows that out-of-home and growing channels such as e-commerce, discounters, cash and carries and convenience stores are growing faster than the overall FMCG market, and that it's time to invest more decisively in what consumers are asking for.