Data released by China’s National Bureau of Statistics, and analysed by Nielsen China, indicates total retail sales of fast-moving consumer goods (FMCG) are increasing, as the country continues its recovery from the coronavirus (Covid-19) pandemic.
According to the data, total retail sales of consumer goods dropped 2.8 per cent year-on-year in May 2020, compared to the decrease rate of 7.5 per cent recorded in April 2020.
The slowed-down decreasing rate indicated consumption has been gradually picking up, according to Nielsen.
“Since the outbreak of the virus, China's experience in fighting off the disease has been a barometer for the world. As people's life gradually returns to normal, consumer-driven domestic demand is now recovering in China, which has injected optimism into the wider global market,' explained Justin Sargent, president of Nielsen China.
'China's consumer market has begun to show signs of recovery. Driven by a number of government policies aimed at spurring consumption, the retail industry continues to improve, and new consumption momentum has emerged,' he added.
Kateryna Edelshtein, vice-president of Nielsen China, said the positive growth recorded in the FMCG sector is being mainly driven by online momentum. The global data analytics company's research shows FMCG online sales climbed 33 per cent year-on-year in January and February 2020, 32 per cent in March and 43 per cent in April.