德勤：中国消费品和零售行业纵览2023_50页_2mb

Summary of Deloitte China 2023 Consumer Goods and Retail Industry Overview

Key Findings

The 2023 report analyzes the Chinese consumer goods and retail industry, emphasizing post-pandemic recovery driven by government policies. Key insights include:

• Consumer market recovery: 2023 is the "Consumption Promotion Year," with policies boosting retail sales; 1-2 month data shows positive growth in social consumption retail.
• Rationalized investment: New listings and funding decreased in 2022, shifting focus to product quality, supply chain efficiency, and sustainability.
• Income growth: Rising disposable income supports consumption rebound; urban consumer trends include rationality, experiential spending, and eco-friendly choices.
• Channel shifts: E-commerce continues growing, while offline retail recovers slowly; social and digital channels enhance engagement and sustainability premiums.

Macro Analysis

Global macro trends support industry recovery, with China's policies like expanded demand strategies aiding. Consumer spending patterns show a mix of necessities and discretionary items, with online sales offsetting some offline losses. Income gains enable higher spending, while outbreaks introduced consumer caution, but 2023 data indicates improved momentum.

Sub-segment Trends

Detailed analysis of various sectors:

• Food and beverage: Demand for health, innovation (e.g., green premiums), and convenience growth, especially in snacks, speed food, and pet-related items.
• Apparel and accessories: Focus on comfort, personalization, and Chinese elements ("guochao" trend); challenges include competition and cost pressures.
• Cosmetics and beauty: Recovery post-outbreaks; capitalizing on digital marketing and male consumers' rising participation.
• Specialty retail: Online channels help offset traffic declines; opportunities in localized markets and diversified offerings.

Future Outlook

Post-pandemic, the industry faces:

• Accelerated digital and online channel adoption.
• Enhanced sustainability and personalized product development.
• Risks from supply chains and cost fluctuations needing optimized logistics and supply chain integration.
• Growth in sectors like health products and experiential consumption.

Contact for details: Deloitte China.