1、MARKETS:China|Indonesia|South Korea|Malaysia|Philippines|Thailand|Taiwan|Vietnam|India|UAEData period:MAT Q3 2023Worldpanel by Kantar2Welcome to Asia PulseIn the third quarter of 2023,the Asia-Pacific region witnessed a continuation of the shifts in consumer behaviour and market dynamics that emerge
2、d in the preceding quarter.This came amid a backdrop of slower growth,marking a distinctive phase in the post-inflation landscape.Explore the latest Asia Pulse report to uncover the narratives of resilience,innovation,and adaptability that are shaping the trajectory of the FMCG industry in the APAC
3、region during this period of subdued growth.Delve into the essential trends and adaptive strategies that hold the potential to unlock fresh opportunities for brands.For further insights,or to explore collaborative opportunities,please reach out to us.Our team stands ready to assist you in building s
4、trategies for success within the evolving economic landscape.2Q3 2023|Summary Asia%Value Change FMCG MAT Q3 2023 vs.Year AgoAsiaNorth AsiaWest&South AsiaSoutheast AsiaTotalChinese MainlandTaiwanSouth KoreaIndia(Urban)UAEIndonesiaMalaysia(Peninsular)ThailandPhilippinesVietnam(Urban)Vietnam(Rural)FMCG
5、 TotalFoodBeveragesDairyHome CarePersonal CareGrowth -0.5%-0.5%5%O V E R V I E W3FMCG Growth in Asia:YOYAsia/MAT Q3 2023 Value Spend Growth vs YA4.15.85.80.56.21.21.42.52.5-3.27.2-1.0FMCGFoodBeveragesDairyHome CarePersonal CareO V E R V I E WQ3 2022Q3 20234FMCG Growth in Asia:YOYAsia/MAT Q3 2023 Val
6、ue Spend Growth vs YAFMCGFoodBeveragesDairyHome CarePersonal CareSoutheast AsiaNorth AsiaWest&South Asia4.83.42.03.23.62.72.93.2-0.43.33.23.64.57.2-0.12.40.614.414.411.06.117.116.33.95.66.40.17.70.8-0.50.31.5-4.26.7-3.5O V E R V I E W8.9Q3 2022Q3 20235FMCGAsia/MAT Q3 2023%Value Growth vs YAFMCG4.11.
7、4Chinese MainlandTaiwanSouth KoreaIndia(Urban)United Arab EmiratesIndonesiaMalaysia(Peninsular)ThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates3.85.04.33.72.80-1.61.18.915.84.37.2-1.5-0.83.88.32.62.0-3.69.210.212.58.42.4Q3 2022Q3 20236Food5.83.0Chinese MainlandTaiwanSouth Ko
8、reaIndia(Urban)IndonesiaThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates5.610.72.54.64.40.0-1.10.010.515.26.711.7-4.00.910.20.58.91.01.6-2.711.14.14.4Food3.7Malaysia(Peninsular)United Arab EmiratesAsia/MAT Q3 2023%Value Growth vs YAQ3 2022Q3 202375.82.5Chinese MainlandTaiwan
9、South KoreaIndia(Urban)IndonesiaThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates7.2-3.73.28.31.80.01.5-4.43.412.43.40.02.7-2.20.88.13.73.34.44.3-6.410.915.214.5BeveragesBeveragesMalaysia(Peninsular)United Arab EmiratesAsia/MAT Q3 2023%Value Growth vs YAQ3 2022Q3 20238Dairy0.
10、5-3.2Chinese MainlandTaiwanSouth KoreaIndia(Urban)IndonesiaThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates0.7-6.0-4.3-2.10.70.0-5.0-3.77.39.24.90.03.7-1.3-4.14.42.713.5-2.0-2.9-1.83.49.018.2DairyMalaysia(Peninsular)United Arab EmiratesAsia/MAT Q3 2023%Value Growth vs YAQ3 2
11、022Q3 202396.27.2Chinese MainlandTaiwanSouth KoreaIndia(Urban)IndonesiaThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates7.77.57.82.33.20.07.0-1.910.018.06.30.03.65.3-1.19.19.09.04.11.9-4.814.613.514.4Home CareHome CareMalaysia(Peninsular)United Arab EmiratesAsia/MAT Q3 2023%V
12、alue Growth vs YAQ3 2022Q3 2023Taiwans classification update:Starting from 2023Q3,facial tissue,wipes,diapers,pads,and liners were reclassified to Home Care category.The definitions of data for previous year has been synchronized.10Personal Care1.2-1.0Chinese MainlandTaiwanSouth KoreaIndia(Urban)Ind
13、onesiaThailandPhilippinesVietnam(Urban 4)Vietnam(Rural)AsiaUnited Arab Emirates-0.20.812.20.51.80.0-5.511.09.618.4-3.80.06.71.2-2.58.49.06.07.0-0.5-2.64.713.916.4Personal CareMalaysia(Peninsular)United Arab EmiratesAsia/MAT Q3 2023%Value Growth vs YAQ3 2022Q3 202311Chinese MainlandCHANNEL PERFORMANC
14、EValue in the beverages and house cleaning categories continued to grow in the third quarter.This year,food sales experienced a slight 1%decline due to consumers having stockpiled while they were isolated at home in 2022.Compared to the same period last year,the market share held by the top 10 retai
15、lers in modern trade collectively declined by 4%,indicating further fragmentation of the Chinese market.Major retailers are exploring new strategies such as premiumisation,digitalisation,and localisation to break through in this competitive landscape.Despite a slight slowdown in Douyins penetration
16、growth in the third quarter,there was still a 5.7%increase compared to the same period last year.This growth was most pronounced in key cities and provincial capitals.FMCG market sees a slight dipRetail channels remain divergentInterest e-commerce continues to grow3%5%-13%4%8%-6%SuperCVSHyperGrocery
17、EcommerceWork Unit/Gift-1%-3%3%1%-6%-2%26333173261413Q3 23Q3 21Q3 22Spend/TripShopping OccasionsChannel Importance%Value MAT Q323 vs Q32212TaiwanCHANNEL PERFORMANCEFMCG market growth is slowFood growth lags,while non-food drives FMCGE-commerce maintains a high growth rateQ3 23Q
18、3 21Q3 22Spend/TripShopping OccasionsChannel Importance%Value The total FMCG market remained stable in Q3,with value growth of 1.1%compared to last year.The main driver was the non-food category(+6.2%),while the food category remained flat(-1.1%).While the food sector remained steady,leisure food an
19、d chocolate saw increased sales,due to the ability of brands in these segments to resonate well with consumers.Demand for health supplements cooled,and growth in dairy lacked momentum.On the other hand,personal care and cosmetics made a significant contribution to overall FMCG market growth.In contr
20、ast with the performance of the offline channel,e-commerce exhibited robust growth in Q3,maintaining a consistent double-digit growth rate over the past year.This growth can be attributed to increased shopping occasions and higher spending per trip by shoppers.HyperSuperCVSDrug StoresDirect SalesEco
21、mmercePCSNote:Starting from 2023Q3,we have revised the channel classification by incorporating PX Mart into Super and separating PCS(Personal Care Store)from the Drug Store.MAT Q323 vs Q32213India(Urban)SupermarketsKirana/Paan-BeediChemistsOnlineShoppingNetworkMarketingOthers781778277827Q323Q322Q321
22、12%8%13%-9%46%7%SuperKirana/Paan-BeediChemistNetwork MarketingOnline ShoppingOthers8%6%7%1%7%5%CHANNEL PERFORMANCESpend/TripShopping OccasionsChannel Importance%Value Value has continued to grow at a significantly faster rate than volume,because of inflationary pressures.However,over the last few qu
23、arters this gap has reduced due to an easing in the price of FMCG products.If this continues,it may translate into improved volume growth in the coming quarters.FMCG consumption has grown at a healthy pace of 3.1%,compared to 2.6%in the period ending June 2023.Beverages is the fastest growing sector
24、 at 5.7%,led by the milk food drinks category.Grocery has the second fastest growth at 5.2%,driven by categories like chocolate,atta,and breakfast cereals.Overall,household shopping occasions have increased across all key channels,in particular e-commerce,which has expanded its presence in the India
25、n FMCG landscape.Households have also been spending more per trip across key purchase channels,compared with the previous period,when households were rationalising their expenditure.MAT Q323 vs Q32214South Korea HyperSuperOtherModernTradeTraditionalTradeInternetNon-StoreHyperSuperOther Modern TradeT
26、raditional TradeInternetNon-store23 21 12 6 34 3 Q3 23Q3 22Q3 210%-3%8%0%11%-19%6%5%1%8%5%9%CHANNEL PERFORMANCESpend/TripShopping OccasionsChannel Importance%Value Koreas Consumer Sentiment Index a comprehensive representation of consumers feelings about the countrys economic situation dropped from
27、100.7 in June 2023 to 99.7 in September 2023.Weak domestic demand,continuous price rises,and uncertainty about the future have contributed to the decline.Consumer Sentiment Index weakensThe polarisation of consumption patterns has deepened due to the economic slowdown.A price-seeking tendency to pur
28、sue reasonable prices,and a product-seeking tendency where consumers purchase a product they want no matter how expensive,are seen at the same time.Shopping patterns polariseThe online channels have continued to show positive value growth,even after the Korean government declared an end to COVID-19.
29、Online marked the highest growth rate in shopping occasions,and maintained the biggest trip basket among key channels,indicating that a continued increase should be expected.The continuous growth of online23 20 12 6 37 3 25 23 12 6 31 4 MAT Q323 vs Q32215United Arab EmiratesCHANNEL PERFORMANCEChanne
30、l Importance%Value CarrefourLuluCo-opsOtherHypermarketsBaqala/GroceryAll OthersSpend/TripShopping OccasionsQ323Q322Q321*Other Hypermarkets-Nesto Hypermarket,Safeer/Al Safeer Hypermarket,Al Madina Hypermarket,Big Mart Hypermarket,Ansar Gallery etc.*Other Supermarkets Nesto Sypermarket,Viva,Al Madina
31、Supermarket,Al Maya,West Zone,Choitrams,Talal Supermarket,Spinneys,Baqer Mohebi etc.*Key Cooperatives-Union Coop.Society,Abu Dhabi Coop.Society,Sharjah Coop.Society,Emirates Coop.Society,Al Mushrif Coop.Society,Al Ain Coop.Society,Bani Yas Coop.Society etc.*Others Pharmacies,Specialty Stores,Zoom,Mo
32、dern Bakery,Amazon,Noon,Talabat etc.12CarrefourLuluCo-opsOtherHypermarketsOtherSupermarketsBaqala/GroceriesAllOthers2010OtherSupermarkets-4%-5%-9%13%4%-2%4%1%1%8%-1%7%11%6%Non-oil sector propels economic expansionShoppers continue to be frugalNew retail players gain
33、ground against the giantsThe GDP of UAE is expected to grow in 2023,driven by resilient non-oil sector,including FMCG,real estate,tourism and services sectors,despite drags from oil GDP cut and higher interest rates.Despite the decline in inflation,shoppers are maintaining thrifty habits.They are cu
34、rtailing their spending by purchasing fewer packs during each shopping excursion,reducing volume per buyer,and purchasing less frequently particularly in the beverages and personal care segments.Market dynamics are compelling retail behemoths Carrefour and Lulu to innovate in order to remain relevan
35、t amid shifting consumer behaviours.Rising stars like discounter Viva and new hypermarket players such as Nesto are gaining market share and reshaping expectations by offering value-driven alternatives.MAT Q323 vs Q322166173694IndonesiaHyper+SuperMini MarketsTraditionalTradeSpecialty storeOthersHype
36、r+SuperMini MarketsTraditional Trade-4%-1%2%33%1%-2%2%-1%Online(under Others)6164694Q3 21Q3 22Q3 237183683CHANNEL PERFORMANCESpend/TripShopping OccasionsChannel Importance%Value A stable and resilient economy has been reflected by a slowdown in inflation to below 3%,and a steady consumer confidence
37、level.Inflation is pushed backThe primary driver of value growth across different socioeconomic segments remains the ongoing price increases,which have driven lower purchase frequency.This makes it important for brands and manufacturers to leverage every shopping occasion to recruit new buyers.Price
38、 increases remainIndonesias Eco-Considerers those who take some action to reduce their environmental impact are becoming more visible compared to five years ago.Globally,both Eco-Considerers and Eco-Actives who take action consistently are growing rapidly,but Indonesia is still far behind this curve
39、.Shoppers sustainability concerns riseMAT Q323 vs Q32217Q3 21Malaysia(Peninsular)-2%1%9%-9%16%-4%HyperSuperMiniGeneral TradeDrug Beauty&PharmacyE-commerce0%1%5%-1%0%1%HyperSuperMiniGeneral TradeDrugBeauty&PharmacyEcommerceOthersQ3 23Q3 22CHANNEL PERFORMANCESpend/Trip
40、Shopping OccasionsChannel Importance%Value Malaysias inflation rate moderated to 1.9%in Q3 of 2023.Despite affluent Malaysians dining out more often,lower-income households still face challenges due to high food and beverage costs.The ongoing worries about inflation are fostering cautious spending h
41、abits.Cautiousness remains high Higher prices continue to be the primary catalyst driving spending growth.In response,consumers are strategically managing their spending by reducing the size of their shopping baskets and eliminating non-essential nice to have categories.Offering discounts and promot
42、ional deals are crucial for businesses to encourage shoppers to spend more.Elevated prices support in-home purchasesMini-markets remain a strong draw for shoppers,driving up their basket size primarily due to convenience and more competitive pricing.The fastest-growing channel is drug,beauty,and pha
43、rmacy,driven by higher footfall.The increasing appeal is attributed to their specialised offerings,indicating a shift in consumer preferences within the retail landscape.Shoppers shift to proximity and specialised channelsMAT Q323 vs Q32218ThailandHyperSuperCVSH&BStoresPVSDirectSalesEcommerceOthers1
44、2121839459Q3 23Q3 22Q3 21HyperSuperCVSH&B StoresPVSDirect SalesEcommerceCHANNEL PERFORMANCESpend/TripShopping OccasionsMAT Q323 vs Q322Channel Importance%Value PLEASE VERIFY THIS CHART AS ITS FROM THE LAST QAs Thai consumers started to resume out-of-home(OOH)activities followin
45、g COVID-19,the demand for take-home groceries reduced.In addition,Thai households still have a high level of debt and are benefiting less from government subsidies,making them cautious in their spending.Increased OOH activities have led to less at-home consumption of categories like cooking products
46、,beverages and household cleaning,while consumers started to buy more laundry products,sun protection and make-up.Within packaged food,consumers are still looking for convenient,easy snacks and meals to eat at home after COVID-19.CVS(convenience stores)has proved to be the winning format especially
47、7-11 for in-home FMCG consumption.The channel gains share of value repeatedly due to much lower government subsidies and the benefits of proximity,promotion and convenience.However,PVS still holds the biggest share and has recovered slightly due to consumers preference for nearby stores.TikTok,meanw
48、hile,is quickly gaining new shoppers.19PhilippinesSuperHyperGroceriesDrug StoresDirect SalesCVSTraditional TradeSuperHyperGroceriesDrug StoresDirect SalesCVSTraditionalTradeOthersQ323Q3 22Q3 21CHANNEL PERFORMANCESpend/TripShopping OccasionsChannel Importance%Value Spend is cautious amid inflationFil
49、ipinos prioritise their spendingProximity stores are still importantMAT Q323 vs Q32220Vietnam(Urban)Street ShopsWet MarketSpecialty StoresHyperSuperMini StoresOnlineStreet ShopsWetMarketsSpecialtyStoresHyperSuperMini StoresOnlineOthers537667105Q3 23Q3 22Q3 21CHANNEL PERFORMANCESpend/TripShopping Occ
50、asionsChannel Importance%Value 53765774%15%6%10%-3%10%17%2%-1%11%2%3%10%-2%MAT Q323 vs Q322Positive economic signals appear21Vietnam(Rural)2%7%22%15%34%44%Street ShopsWet MarketsSpecialty StoresHyper&SuperMini StoresOnlineStreet ShopsWetMarketsSpecialtyStoresHyper&SuperMiniStoresOnlineOth
51、ersCHANNEL PERFORMANCESpend/TripShopping OccasionsMAT Q323 vs Q322Channel Importance%Value Rural areas provide avenues for growthStrong growth for non-food sectorsOptions for rural shoppers increase77123222Q3 23Q3 22Q3 21142325%7%7%-4%44%-8% Lien Regional ASIA Marketing DirectorFOR FURTHER INFORMATION,PLEASE CONTACTFIND OUT MORE AT 23
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