Shoppers select fresh fruit at a supermarket in Wuzhou, Guangxi Zhuang autonomous region, on June 23. HE HUAWEN/FOR CHINA DAILY
The fast-moving consumer goods market in the country is entering a structurally slower but more complex growth phase, as value-seeking behavior, demographic aging and rapid channel disruption reshape how households spend, according to an industry report.
The findings in the 2026 China Shopper Report — tracking the evolution of urban FMCG consumption jointly by Bain & Company and Worldpanel by Numerator — portray a market that is no longer driven primarily by income expansion or population growth, but instead by reallocation of demand across cities, age groups and retail formats.
Total urban FMCG spending in China rose just 0.9 percent year-on-year in 2025, according to the report, as a 3.6 percent increase in volumes was largely offset by a 2.6 percent decline in average selling prices.
The pattern underscores a persistent "trading down" dynamic, in which consumers are buying more units but paying less per unit, reflecting both intensified competition and a heightened focus on affordability.
