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Jakarta Post

Keeping up with China's grocery shifts

  • Larry Zhu and Nader Elkhweet

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Jakarta   /   Fri, January 5, 2018   /  10:45 am
Keeping up with China's grocery shifts Chinese consumers are opting to order food delivery or eat out instead of cooking at home. Meituan, the largest food delivery platform, has 300 million registered users, nearly the size of the entire US population. (Shutterstock/File)

The world’s largest and most ambitious grocery market is undergoing fast and forceful shifts, requiring consumer goods players to move equally fast and forcefully if they hope to grow and maintain their margins. Physical retailers in China find themselves responding to dizzying consumer trends. There is the relentless rise of online purchasing at the expense of offline. Bain & Company estimates that digital sales will expand by 41 percent annually through 2020, while hypermarket sales will grow by at most 1 percent per year and supermarket sales by 4 percent. There is also the big movement to mobile payments. In 2016, mobile payments by Chinese consumers were more than 50 times greater than those made by United States shoppers. Other big trends are afoot, too. Chinese consumers are showing a passion for health and wellness (among those who can afford it) and, along with i...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.