Kantar-中国快速消费品：从动荡中缓慢反弹，对2023年剩余时间持乐观态度（英）-36页_1mb

China FMCG Market Analysis Summary

The China Shopper Report 2023 examines the performance of fast-moving consumer goods (FMCG) in China, highlighting the slow rebound from COVID-19 turbulence and providing optimism for the remainder of 2023. The report, based on data from 2022 and the first four months of 2023, analyzes consumer behavior across key sectors like packaged food, beverages, personal care, and home care. It identifies trends, channel dynamics, and strategic implications for brands and retailers.

Key Findings from 2022

• FMCG market growth was weak at approximately 1.5% annualized due to persistent COVID-19 disruptions, including lockdowns and policy changes. Volume dropped for the first time since 2020, while average selling prices (ASP) continued deflating, falling 2.5% overall.
• Packaging food and home care drove positive growth, fueled by at-home consumption habits, health consciousness, and hygiene concerns. Beverages and personal care faced declines due to reduced social activities and economic pressures.
• E-commerce growth slowed to 2% year-over-year, but O2O channels surged with 18% growth. Domestic and large brands gained market share through resilience and innovations in health-focused products.

2023 First Quarter Insights

• Economic rebound is evident, with China's GDP growing 4.5% and retail sales increasing. FMCG rebounded to 1.9% growth, driven by volume gains despite ongoing price deflation.
• Categories like home care and packaged food maintain strong growth, while beverages and personal care show recovery signs as social gatherings increase. Price trends diverge, with premiumization in some areas and deflation in others like toothbrushes.
• Channel shifts include accelerated e-commerce growth and sustained O2O development, with O2O contributing significantly to FMCG performance.

Future Implications

• Brands should focus on evolving consumer needs, such as health, hygiene, and experience-based consumption, while managing costs and integrating online and offline strategies.
• Retailers must enhance customer loyalty, optimize category assortments at SKU level, and expand O2O capabilities to capture lasting market shifts.

Overall, the report underscores a cautious but optimistic outlook for FMCG in 2023, emphasizing the need for agility in response to consumer and economic dynamics.