快速消费品

Search documents
贝恩:2025年“消费平替”趋势延续
Guo Ji Jin Rong Bao· 2025-06-12 13:00
Core Insights - The report by Bain & Company and Worldpanel indicates a slowdown in the overall sales growth of China's fast-moving consumer goods (FMCG) market due to the ongoing "consumption substitution" trend [1] - In 2024, the FMCG market is projected to achieve a modest sales growth of 0.8%, with a volume increase of 4.4% but an average price decline of 3.4% [1] - The first quarter of 2025 shows a year-on-year sales growth of 2.7%, driven by improvements in macroeconomic indicators and strong consumption during the Spring Festival [1] Market Trends - The FMCG market in China is experiencing a significant "consumption substitution" trend, with the average price decline being the largest in the past four years [1] - Consumption growth in third- and fourth-tier cities is outpacing that of first- and second-tier cities, indicating a shift in consumer spending patterns [1] - The largest factor affecting household spending is product choice, with consumers actively seeking more affordable alternatives across categories such as packaged food, beverages, household care, and personal care [1] Strategic Considerations - Brands face strategic decisions regarding whether to focus on the high-end market, compete in the mass market, or adopt a dual approach [2] - The high-end market is experiencing a decline compared to the overall market, presenting challenges for brands [2]
《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
凯度消费者指数· 2025-06-12 05:18
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]
共谋货架和谐:2025年自有品牌与厂商品牌全球展望
尼尔森· 2025-06-09 06:55
Investment Rating - The report indicates a positive outlook for private label brands, particularly in the Asia-Pacific region, with a projected sales growth of 9.6% year-on-year [6][5]. Core Insights - Private label products are gaining acceptance among consumers, with 54% of Asia-Pacific consumers believing that private labels are good alternatives to well-known brands [9][41]. - The average price of manufacturer brands is 24% higher than that of private label products in the Asia-Pacific region [21]. - The report highlights the importance of value proposition, as 92% of Asia-Pacific consumers prioritize affordability when choosing brands [25]. Summary by Sections Sales Growth - Asia-Pacific private label sales are outpacing global growth, with a year-on-year increase of 9.6% compared to the global average of 4.3% [6][7]. Consumer Perception - 67% of Asia-Pacific consumers find private label products to be of good value, and 60% would purchase more if there were a wider variety available [10][9]. - The perception of quality for private labels is improving, with over half of Asia-Pacific consumers stating that private labels are of equal or higher quality than well-known brands [28][29]. Brand Selection Factors - Functionality is the primary driver for consumer decisions, with local support and availability being key factors for private labels, while quality is the top consideration for manufacturer brands [16][14]. Challenges for Manufacturers - Manufacturers face challenges from private labels, including price competition and the need to secure shelf space in retail environments [27][23]. - The report emphasizes the need for manufacturers to collaborate with retailers to ensure prominent shelf placement and distribution channels [27][50]. Retailer Insights - Retailers are encouraged to enhance category flow by ensuring both private label and manufacturer brands have significant shelf presence [46]. - Developing joint promotional plans can help drive consumer traffic and reduce internal competition between brands [47][51]. Recommendations for Manufacturers - Manufacturers should clearly communicate their unique value propositions to justify premium pricing and emphasize qualities that private labels cannot replicate [50]. - Collaboration with retailers is essential to enhance the overall shopping experience and highlight brand quality [50][49].
从“制造优势”到“品牌优势”:中国品牌的新征程
凯度消费者指数· 2025-05-09 02:04
Core Insights - The article emphasizes the significant growth potential for Chinese brands in the fast-moving consumer goods (FMCG) sector, driven by increasing consumer recognition and demand for domestic products [1][2][3] - It highlights the importance of establishing brand value differentiation to enhance pricing power and market competitiveness [2][3] Group 1: Market Trends - The demand for domestic FMCG products is on the rise, reflecting a growing consumer recognition of Chinese brands [1] - The macroeconomic environment presents a unique opportunity for Chinese brands to expand over the next 3-5 years [1] - Health consciousness among Chinese consumers is high, with 67% actively seeking to improve their health, surpassing the global average by 12% [2] Group 2: Brand Strategy Recommendations - Chinese brands should focus on creating differentiation through cultural elements, as demonstrated by the perfume brand Wenxian, which integrates "Zen" aesthetics and local cultural resonance [1] - Brands need to identify and target specific consumer groups to establish a unique value proposition, enhancing their pricing power [2] - The article suggests that brands should design their product matrix strategically, assigning clear roles to each product to optimize resource allocation [3][7] Group 3: Product Management - Brands should evaluate the contribution of each product to user growth and market share, focusing on those that drive incremental user acquisition [8][12] - It is recommended to streamline product offerings to avoid resource dilution, ensuring that a limited number of products can meet the majority of consumer needs [7][12] - The article stresses the importance of balancing new channel exploration with existing channel efficiency to maximize market performance [13][15]
2025中国快消市场一季度纵览
凯度· 2025-05-08 23:20
Investment Rating - The report indicates a positive outlook for the fast-moving consumer goods (FMCG) market, with a steady growth trend observed in the first quarter of 2025 [5][69]. Core Insights - The FMCG market in China is experiencing a recovery, with a GDP growth rate of 5.4% and an increase in urban disposable income by 4.9% in the first quarter of 2025 [6][69]. - Consumer purchasing behavior is shifting towards smaller, more frequent purchases, reflecting a trend towards convenience and emotional value in products [11][69]. - Domestic products are gaining traction, while imported products face challenges due to declining prices and changing consumer preferences [70][69]. - The growth of the out-of-home consumption market is notable, particularly during festive periods, indicating a need for brands to focus on specific consumption scenarios [71][69]. Summary by Sections Market Overview - The FMCG market is showing signs of recovery with a growth rate of 4.2% year-on-year as of March 2025 [6][8]. - The overall market sentiment is positive, with food and daily chemical products accelerating in sales compared to the previous quarter [8][69]. Consumer Behavior - There is a notable trend of small-sized product purchases, with a 25.1% increase in small specifications [12][69]. - The frequency of purchases has increased by 6.3%, indicating a shift towards fragmented purchasing channels and diverse consumption scenarios [15][69]. Product Categories - Food and beverage categories are performing well, with food sales up by 4.5% and beverages by 6.1%, while dairy products are under pressure with a decline of 3.0% [11][69]. - The average purchase price for imported products has decreased by 7.6%, leading to a decline in household spending on these items [19][70]. Retail Channels - The modern retail channel is experiencing a bifurcation, with traditional supermarkets and convenience stores adapting to consumer needs [24][71]. - E-commerce continues to grow, with platforms like Douyin leading in penetration rates and purchase frequency [31][69]. Out-of-Home Consumption - The out-of-home consumption market is thriving, with significant growth during the Spring Festival, highlighting the importance of targeting specific consumer scenarios [71][69]. - Brands are encouraged to enhance their presence in various out-of-home settings, such as snack shops and entertainment venues, to effectively reach consumers [43][71]. Demographic Trends - The rise of single-person households is influencing consumption patterns, with a focus on self-enjoyment and convenience [54][71]. - Brands need to adapt their strategies to cater to the unique preferences of single households, emphasizing emotional value and efficient products [71][69].
消费洞察集锦 | 2025年第三期
凯度消费者指数· 2025-05-08 02:33
Group 1 - The article provides insights into the consumer market overview for Q1 2025, highlighting new opportunities in the health sector through demographic segmentation [1] - It discusses the trend of new convenience foods seeking differentiation amidst a wave of affordability [1] - The growth rate of the Asian fast-moving consumer goods market is expected to slow down in Q4 2024 [1] Group 2 - The article features seven core insights aimed at providing strategic guidance for brand owners and retailers [1] - Additional insights can be accessed through a 20-minute video series available on the company's platform [1]