CHINA-ECONOMY: CONSUMER SALES
According to a recent Bain-Kantar China Shopper Report, consumer goods companies in China saw sales plummet to about 3.5% in 2015 from nearly 12% in 2012. Mainly affected were sales of fast-moving consumer goods (FMCG) like beer and cigarettes, diapers and dish soap. The sharp drop is attributed to China's slowing economy and shifting consumer behavior. China is now described as "a two-speed market", with some categories continuing to prosper while others, such as instant noodles, are getting whacked with sales declines of more than 5%. |