Chinese brands gain ground against foreign rivals in everyday product sales
Customer-centric approach boosts Chinese firms’ market share in 16 out of 26 product categories
Domestic brands continued to gain ground in China’s fast-moving consumer goods market as overall sales by foreign rivals shrank last year, an industry report said on Tuesday.
Chinese companies won a greater market share in 16 out of 26 categories of fast-moving consumer goods (FMCG), Bain & Co and Kantar Worldpanel said in a joint report.
They made the biggest advances in skincare products, baby diapers, toothpaste, and shampoos and conditioners.
Foreign companies gained ground in seven categories, bolstering their shares the most in fabric softeners, infant milk formula, instant noodles and beer.
Market shares in three categories – sweets, juices and toothbrushes – remained unchanged.
The 26 categories covered by the survey represent more than 80 per cent of FMCG sales.
“In many cases, multinationals are gaining ground either through investing heavily in marketing or as the result of food safety concerns with local products,” the report said.
