Consumer › Business

Spending on FMCG grows 2.9%

CHINA’S expenditure on fast moving consumer goods in 2016 grew 2.9 percent, marking the slowest growth in the last decade and also a further slowdown from a 3.5 percent growth a year ago, consumer research firm Kantar Worldpanel said in a report yesterday.

Traditional retail channels, including hypermarkets, supermarkets and convenience stores, grew a combined 0.7 percent as they felt the squeeze from an slowing economy and a rapidly growing e-commerce sector.

Local retailers such as Sun Art Group, which operates the Auchan and RT-Mart brands, boasted a 7.8 percent market share. Vanguard Group was next with 6.4 percent.

Wal-Mart saw its market share edge up to 4.9 percent from 4.8 percent a year ago as it focused more on China’s hinterland and adopted a more aggressive online-to-offline strategy.

Yonghui remained the fastest growing player in 2016, rising 0.6 percentage points to 2.8 percent.

More StoriesLatest Business News

Suning ushers in new era for cars sales in China

2 HOURS AGO

China opens wider to boost foreign investment

7 HOURS AGO

US$3.32 billion to upgrade rural power grids

1 DAY AGO