Domestic Chinese consumer brands beating foreign rivals

Domestic consumer-goods brands are gaining market share faster than foreign companies in China as they move quickly to launch products and marketing campaigns that appeal to the country’s more than 1.3 billion consumers. A report released Tuesday by Bain & Co. in partnership with Kantar Worldpanel said that while sales by foreign brands declined an overall 1.4% in 2015, sales by local companies increased 7.8% in certain fast-moving consumer-goods categories such as personal care products in the same period, The Wall Street Journal reports. In general, domestic consumer-goods companies are becoming “better and more competitive” against foreign companies in business strategy and marketing, said Bruno Lannes, a Bain partner and co-author of the report.