光辉国际研究报告 - 《Future-forward China’s consumer markets》
下载

COVID-19 has prompted a rapid shift in consumerhabits, behaviours and preferences – andaccelerated digital adoption. This is certainlyevident in China, which is returning to ‘normal’ahead of most other regions.


The timing of China’s response to the pandemiccaused significant disruption to traditionalholiday revenue for retailers and FMCGs.Traditionally, Chinese New Year and Valentine’sDay are major gifting seasons, so going intolockdown mode in late January and Februaryimpacted categories such as chocolate – whileothers, such as cleaning and health products andsnack foods, saw unpredictable surges.


Shifting resources quickly into thesehigh-demand areas was critical. Some productsand stores were regarded as essential, whichenabled them to resume work earlier withgovernment approval. Working through logisticalissues, these companies focused on maintainingsupply to consumers, government and themedical sector during the lockdown period.


And with many physical stores closed, digitalchannels were the key to performance during thepeak of the crisis in China. In the first four monthsof 2020, China’s online retail sales increased 8.6%,while total retail sales dropped 16.2%.1 Korn Ferrydata suggests online channels generated a 15% to30% incremental share increase of purchasesacross a range of categories.


This significant shift from o‑ine to onlinecontinues, even though physical stores have nowre-opened – especially in the grocery category.


I recently spoke with three leaders in China’s FMCG and retail sectors about their experience during the global pandemic, and what their businesses are now focusing on as the country enters the next phase of recovery.


Josephine Chau, Senior Client Partner

Global Consumer Markets, Korn Ferry


First Name 名*
Last Name 姓*
Job Title 职位*
Company 公司*
Corp Email 企业邮箱*
Mobile 手机*
提交成功
提交中..
提交失败
沪ICP备17043272号-2 Copyright © 2014-2020 Global ConsignIndex All rights reserved.