In the third quarter of 2019, China's GDP growth rate dipped to 6.0%. But amid the slowing economy, China's consumers still have a growing appetite for fast-moving consumer goods (FMCG). In the first three quarters of 2019, total FMCG sales roles by 2.7%, 6.9%, and 5.7%, maintaining the same pace as 2018.
In the first six months of 2019, imports represented 18% of China's total FMCG consumption and grew 10%, close to twice the rate of overall FMCG growth.
The stable growth follows a regular pattern, with the macro product categories accelerating at two distinct speeds: fast and slow. Personal care and home care categories maintained their high speed, growing by 11.8% in Q3 2019, the strongest performance in three years. Food and beverage categories grew at a relatively slow rate of 2...
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