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Economy

Chinese consumers spend big on imported FMCG: newspaper

December 06, 2019


Abstract : Enduring fever for imported goods is driving consumer goods demand in China, dispelling concerns that an economic growth slowdown would dent spending, China Daily reported Friday.

BEIJING, Dec. 6 (Xinhua) -- Enduring fever for imported goods is driving consumer goods demand in China, dispelling concerns that an economic growth slowdown would dent spending, China Daily reported Friday.

Expenditure on fast-moving consumer goods (FMCG) like shampoo to fabric softeners or pet food saw a steady growth of 5.7 percent in the third quarter of 2019, same as that of last year, the newspaper reported, citing data from the China Shopper Report jointly published by consultancy firms Bain & Co and Kantar Worldpanel.

During the first six months of this year, imports accounted for 18 percent of all FMCG sales and jumped 10 percent, almost doubling the pace of overall sector growth, the report said.

This was driven mostly by online channels, registering a 30 percent surge in sales during the first half of 2019 and accounting for 35 percent of all online sales in the country.

Sales of nutritional supplements from the Republic of Korea increased 35 percent in the 12-month period ending in the second quarter of 2019, whereas the value of biscuits from Singapore surged by 22 percent during the same period, the report said.

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Keyword: Chinese-consumers FMCG

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