China's Domestic Consumption Rebound Will Take Time, Daiwa Says -- Market Talk

Dow Jones2024-11-08

0526 GMT - China's domestic consumption is unlikely to rebound in a V-shape next year despite policy stimulus, Daiwa analysts Steven Nie and Carlton Lai say. They reckon that change in consumer behavior could take two to three years, due to the "scarring effect of the pandemic-led lockdowns and property rout, as well as structural challenges in demographics and economic growth." However, competition among China's consumer staples could remain fierce in 2025 on slowing premiumization and saturating sales volume, they say in a note. Effective product positioning and pricing strategy will be key factors to drive market share gains in 2025, they add. Daiwa's top consumer stock picks include Eastroc Beverage, Uni-President China, China Resources Beer and Kweichow Moutai. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 00:26 ET (05:26 GMT)

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They reckon that change in consumer behavior could take two to three years, due to the \"scarring effect of the pandemic-led lockdowns and property rout, as well as structural challenges in demographics and economic growth.\" However, competition among China's consumer staples could remain fierce in 2025 on slowing premiumization and saturating sales volume, they say in a note. Effective product positioning and pricing strategy will be key factors to drive market share gains in 2025, they add. Daiwa's top consumer stock picks include Eastroc Beverage, Uni-President China, China Resources Beer and Kweichow Moutai. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 08, 2024 00:26 ET (05:26 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Domestic Consumption Rebound Will Take Time, Daiwa Says -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Domestic Consumption Rebound Will Take Time, Daiwa Says -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 13:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0526 GMT - China's domestic consumption is unlikely to rebound in a V-shape next year despite policy stimulus, Daiwa analysts Steven Nie and Carlton Lai say. 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They reckon that change in consumer behavior could take two to three years, due to the \"scarring effect of the pandemic-led lockdowns and property rout, as well as structural challenges in demographics and economic growth.\" However, competition among China's consumer staples could remain fierce in 2025 on slowing premiumization and saturating sales volume, they say in a note. Effective product positioning and pricing strategy will be key factors to drive market share gains in 2025, they add. Daiwa's top consumer stock picks include Eastroc Beverage, Uni-President China, China Resources Beer and Kweichow Moutai. 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