《2025年中国购物者报告，系列一》：2025年“消费平替”趋势延续，中国快消品市场全力以赴促增长

Core Insights - The report highlights a slowdown in the growth of China's fast-moving consumer goods (FMCG) market, primarily influenced by the "consumption substitution" trend, with overall sales growth at 0.8% in 2024, driven by a 4.4% increase in volume but a 3.4% decrease in average prices [2][3][4] Market Performance - In 2024, the FMCG market saw a quarterly sales performance of 1.5% and 1.8% growth in Q1 and Q2, respectively, followed by a decline of 0.6% in Q3 and a slight rebound of 0.4% in Q4 [2] - The first quarter of 2025 continued this trend with a 2.7% year-on-year sales growth, supported by improved macroeconomic indicators and strong consumption during the Spring Festival [2] Category Insights - Household care led the market with a 2.4% sales growth in 2024, followed by packaged food and beverages with 2.0% and 1.5% growth, respectively [4] - Personal care categories experienced a decline of 2.3%, impacted by competition from the medical beauty industry and a decrease in birth rates affecting diaper sales [7] - In Q1 2025, household care, personal care, and packaged food categories all saw sales growth, with household care achieving the highest growth at 6.1% [7] Channel Dynamics - The e-commerce and offline channels maintained stable overall shares in 2024, with grocery stores and supermarkets outperforming the market, particularly in lower-tier cities [8] - E-commerce platforms like Douyin showed rapid growth, while other platforms experienced stagnation, indicating a polarization in the market [8][9] Competitive Landscape - Over half of the categories saw the top five brands losing market share, with emerging brands gaining traction by emphasizing health attributes and continuous innovation [9] - Local brands captured 76% of the market share by 2024, indicating a strong performance against foreign brands [10] Consumer Behavior - The primary factor influencing household spending was product choice, with consumers increasingly seeking economical alternatives, reinforcing the "consumption substitution" trend [13] - High-end products in categories like juice and coffee saw growth due to consumer demand for quality, while other high-end categories faced declines due to the rise of private labels [14] Strategic Recommendations - Brands must navigate the pricing challenges in the FMCG market, deciding whether to focus on high-end or mass-market strategies, or adopt a dual approach [14] - Understanding consumer value needs is crucial for brands to effectively position themselves in the market [14]