今天分享的是：（英）渠道破局：中国消费品市场的机会和挑战（2025年中国购物者报告，系列二） 报告共计：29页 2025年中国快速消费品市场核心趋势总结 2025年前三季度，中国快速消费品（FMCG）市场在2024年的疲软后呈现企稳迹象，总销售额同比增长1.3%，其中销量增长 3.8%，平均售价下降2.4%，价格通缩态势较2024年的3.4%有所放缓。市场增长呈现明显的季度波动，一季度受宏观经济指标改 善和春节消费带动增长2.7%，二、三季度则分别放缓至0.7%和0.4%，消费者情绪整体温和。 下沉市场成为增长核心引擎，三至五线城市贡献了约80%的市场扩张，得益于持续城镇化、品牌渗透率提升及新兴渠道布局， 且生活成本相对较低进一步支撑消费。而一二线城市受宏观复苏放缓和消费降级影响，市场表现持平。 品类表现呈现分化态势，包装食品（+3.4%）和家居护理（+3.3%）引领增长，个人护理品类结束连续三年下滑，实现1.1%的温 和回升，而饮料品类受价格竞争和现制饮品替代影响，同比下降1.1%。包装食品中，方便面、营养补充剂表现突出；饮料品类 里，果汁、啤酒实现增长，牛奶和酸奶则下滑明显；个人护理中，彩妆反弹强劲，牙膏 ...

Core Insights - The FMCG sector in China continues to experience price deflation, leading to slower overall value growth, with a 0.8% annual value growth in 2024 supported by a 4.4% volume growth but hindered by a 3.4% decline in average selling prices [3][5][24] Market Performance - In 2024, the quarterly growth rates for China's FMCG were 1.5% in Q1, 1.8% in Q2, -0.6% in Q3, and a slight rebound to 0.4% in Q4. The first quarter of 2025 saw a 2.7% growth compared to the same quarter in the previous year, aided by improved macroeconomic indicators and government policies [4][5] - Home care led FMCG growth in 2024 with a 2.4% annual increase, followed by packaged food at 2.0% and beverages at 1.5%. Personal care, however, declined by 2.3% [7][10] Category Trends - In Q1 2025, home care grew by 6.1%, personal care rebounded with a 4.0% increase, and packaged food rose by 3.2%, while beverage growth stagnated at 0.5% [11] - The premium segment outperformed the overall market in categories like juice, instant coffee, toothpaste, and sanitary pads, driven by innovations and product upgrades [22] Channel Dynamics - The overall channel mix for FMCG remained stable, with grocery and super/mini formats outperforming in Tier 3 and Tier 4 cities, while club warehouses grew in higher-tier cities [12] - Online channels saw rapid growth in Douyin, while community group buying and horizontal marketplaces faced declines. Vertical grocery e-commerce grew by 26.0% in 2024 [15][16] Brand Competition - Domestic brands gained market share from foreign brands, claiming 76% of the market in 2024, with intense competition leading to the top five brands losing share in over half of FMCG categories [18][21] - The report suggests that brands must choose between specializing in the premium segment or competing in mass/mainstream segments to succeed in the current environment [24][25]