Retailers must shift to tap online buying

Updated 2016-11-25 09:55:31 Shanghai Daily

Retailers need to adapt to new scenarios as consumers go online to buy fast moving consumer goods, a report said yesterday.

Online sales in China continue their decade-long success with consumers embracing online shopping even more fervently than before, Bain & Co and Kantar Worldpanel said in their fifth annual China shopper report.

"China's massive explosion of online sales growth is being fueled by increasing diversification in the online purchasing categories as well as a boost in imported products, and consumers seeking online promotions," said Jason Yu, general manger of Kantar Worldpanel China.

The size of online FMCG spending in China jumped 36.5 percent in 2015, with growth in volume compensating for a decline in average selling price.

"To survive and prosper, both online and offline channels need to begin the process of adapting to this new reality, which requires the transformation of their business models to remain competitive," said Bruno Lannes, partner in Bain China's Consumer Products Practice.

He said transforming "would have to include online-to-offline services either through their own efforts or partnership."

Convenience stores and smaller retail shops gave the most to the sales growth of FMCG by adding 13 percent in 2015.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 25 2018 03:34:27

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 25 2018 03:34:27

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 25 2018 03:34:27

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords