China’s market for fast-moving consumer goods is less friendly to outsiders than it was four years ago. 60% of brands in the market are reporting a decline in market share. Combined, PepsiCo and The Coca-Cola Company have seen their market share drop by 4.9% since 2009. Digital is a useful tool for brands looking to gain or regain market share in China as Chinese consumers are more willing (than global consumers) to purchase online in 18 of 22 categories. Furthermore, China’s online spending on food and beverages is expected to triple by 2019. And while a new market with different consumer behavior poses challenges, there is opportunity for brands ready to face them.
For more on the digital strategies of 66 global and local brands in China, download a copy of L2’s Digital IQ Index: China Beverages.
L2 emails keep you up to date on how brands are leveraging digital to grow their businesses.
Join Our EMail List