Chinese shoppers desire premium fast-moving consumer goods

( ) Updated: 2014-03-31 09:47:28

Despite growth deceleration in China's fast-moving consumer goods market, customers' desire of upgrading to premium products is set to be the sector's driving force, consumer insight company Kantar Worldpanel said in a report on Thursday.

Fast-moving consumer goods refer to food and non-food everyday consumer products that are sold quickly and at relatively low cost.

Data showed that following China's economic slowdown, fast-moving consumer goods volume growth and value growth both dropped.

But value will outgrow volume by between 8 to 9 percent in 2014, because Chinese consumers are increasingly inclined to buy premium products, the report said.

For example, among milk products, premium goods -- those sold for more than 16 yuan (2.6 U.S. dollars) per liter -- accounted for only 26 percent of total sales in 2011. But it was 38 percent in 2013.

Premium toothpastes, which refer to more than 16 yuan per 100 gram, contributed to 20 percent of total toothpaste sales in 2011 and grew to 26 percent in 2013.

While in the biscuits category, premium products (priced at more than 80 yuan each kg) jumped from 15 percent in 2011 to 23 percent in 2013.

This phenomenon is most apparent in dairy product categories, where Chinese customers have not fully recovered their confidence in milk, formula, yogurt and butter made in China, Kantar said in a statement.

Previous Page 1 2 Next Page

Editor's Picks
Hot words

Most Popular