零售快报 | 2025年上半年中国快速消费品市场平稳向好，线上线下多元业态重塑消费格局

Core Insights - The consumer market in China is showing a moderate recovery, with a year-on-year growth of 2.5% in the urban fast-moving consumer goods (FMCG) market for the first half of 2025, driven primarily by beverages, which grew by 5.6% [1] - The service consumption sector is on the rise, with a notable 8.7% increase in foot traffic in the out-of-home consumption market [2] - The retail landscape is evolving, with significant performance disparities among major retailers, as evidenced by a 1.1 percentage point decline in market share for the top ten retailers [4] Group 1: Market Performance - The FMCG market's growth is supported by positive trends in beverages, food, household cleaning, and personal care products, while dairy products lag behind [1] - The retail sales of convenience stores decreased by 3.6%, while small supermarkets saw a 7.3% increase in sales [3] - The overall retail sales of consumer goods increased by 5.0% in the first half of the year, with final consumption expenditure contributing over 50% [1] Group 2: Retail Channel Insights - Membership stores are gaining traction, with an overall penetration rate increase of 3.6 percentage points in the first half of 2025, driven by strong performances from Sam's Club [8][9] - Traditional supermarkets are transitioning to hard discount models, with companies like Zhongbai Group and Jiajiayue achieving rapid growth in their discount formats [12] - E-commerce channels experienced a 6.9% increase in sales, with platforms like Douyin and JD Group showing significant growth in penetration rates [13][15] Group 3: Consumer Behavior Trends - Consumers are increasingly sensitive to price while also valuing experiential aspects of shopping, leading to a demand for higher quality and functionality in products [17] - The 618 shopping festival saw a surge in demand for essential goods, with consumers diversifying their purchasing channels and seeking more personalized products [17] - Instant retail is redefining convenience, with platforms integrating resources to enhance consumer experiences, achieving over 35% penetration in the first half of 2025 [16]