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1、Striving for Growth:FMCG Consumption Improves,Giving Way to Cautious Optimism for 2025China Shopper Report 2025,vol.1This work is based on secondary market research,analysis of financial information available or provided to Bain&Company and a range of interviews with industry participants.Bain&Compa

2、ny has not independently verified any such information provided or available to Bain and makes no representation or warranty,express or implied,that such information is accurate or complete.Projected market and financial information,analyses and conclusions contained herein are based on the informat

3、ion described above and on Bain&Companys judgment,and should not be construed as definitive forecasts or guarantees of future performance or results.The information and analysis herein does not constitute advice of any kind,is not intended to be used for investment purposes,and neither Bain&Company

4、nor any of its subsidiaries or their respective officers,directors,shareholders,employees or agents accept any responsibility or liability with respect to the use of or reliance on any information or analysis contained in this document.This work is copyright Bain&Company and Worldpanel and may not b

5、e published,transmitted,broadcast,copied,reproduced or reprinted in whole or in part without the explicit written permission of Bain&Company and Worldpanel.Copyright 2025 Bain&Company,Inc.and Worldpanel.All rights reserved.Authors and acknowledgmentsDerek Deng is a senior partner who leads Bain&Comp

6、anys Consumer Products practice in Greater China and is based in Shanghai.You can contact him at .Bruno Lannes is a senior partner with Bain&Companys Consumer Products and Retail practices and is based in Shanghai.You can contact him at .Rachel Lee is the general manager of Worldpanel China.You can