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Monthly Digest: China Food Sector in November 2020

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1. 357 new brands ranked the No.1 in their respective segmented sectors by turnover on November 1, the first day of the first round of 2020 Tmall Double 11 Shopping Festival. For example, Bao Bao Chan Le (宝宝馋了) got the first place in the baby snack category, and Saturnbird (三顿半) became the TOP1 in the instant coffee category. These new brands have been on Tmall for less than three years.

2. More than 200 famous wine brands from top 9 wine-producing countries in the world participated in the 2020 Tmall Double 11 Shopping Festival through Tmall Global. During the first promotion round (11.1-11.3), Tmall Global sold one million bottles of wines, among which, the 1982 Lafite sold out at an average price of RMB 55,000.

1-5.jpgForeign wine brands participated in the 2020 Tmall Double 11 Shopping Festival.

3. H&H Group released a performance report for the first three quarters of this year, showing that its revenue increased by 3.1% year-on-year, reaching RMB 7.768 billion. In Q3, the sales of Biostime milk powder in China showed prominent growth of 12.6%. Swisse's revenue rose 23.9% year-on-year in the first three quarters.

4. According to Kantar, as of Q3, the top five source countries/regions for Chinese consumers to purchase imported fast-moving consumer goods were Japan & South Korea, the United States, Australia & New Zealand, France, and the Netherlands. Products from the above five source countries/regions accounted for about 80% of imported FMCG sales in China.

5. From November 1-11, the total turnover of 2020 Tmall Double 11 Shopping Festival was RMB 498.2 billion. More than 450 brands realized a turnover of over RMB 100 million. JD's cumulative order amount exceeds RMB 271.5 billion. Suning online orders increased by 75%.

(To know more information about Double 11, please refer to our 2020 China Double 11 E-commerce Shopping Spree Insights.)

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