Fast Moving Consumer Goods (FMCG) are products that are sold quickly and at relatively low cost. These products include consumable goods, such as food & beverages, over-the-counter drugs, health care products, and other products, such as personal care, toiletries, and home care products. The scope of the study is intended to discuss the upcoming and present market trends of FMCG. The personal care segment comprises of cosmetics, skincare, haircare and other related products while health care products are further segmented into over-the-counter (OTC) drugs, vitamins and dietary supplements, oral care, feminine care and other products. The global FMCG market is analyzed based on its prospect and future growth rate. The report highlights numerous factors that influence the growth of the global FMCG market. These include market forecast, drivers, restraints, opportunities, and role of different key players operating in the market. The report emphasizes on study of sub segments such as baby care, feminine care, grooming, oral care, and others. However, other products such as tobacco, nicotine & related products, pet care products, consumer electronics, office supplies, and clothing are excluded from the scope of the study. Moreover, it focuses on the distribution channel segment, which includes supermarkets & hypermarkets, grocery stores, specialty stores, e-commerce, and others. Furthermore, it includes the revenue generated from the sales of FMCG across North America, Europe, Asia-Pacific, and LAMEA.

根据 Euromonitor 数据，2017 年中国化妆品市场规模突破 3600 亿元，同比增长 10%，2008-2017 年市场复合增速为 9%，远超过同期全球化妆品市场 2%的复合增速。

1-2月社零名义增速8.2%，增速与前期持平。据国家统计局及Wind数据，2019年1-2月，社会消费品零售总额66064亿元，同比名义增长8.2%（增速与前期持平）；限额以上单位消费零售额23096亿元，增长3.5%（增速+1.1pct）。其中，1-2月CPI同比上涨1.7%、1.5%，食品CPI同比上涨1.9%、0.7%，增速较前值有所回落。

通过观察历史我们可以发现，京东/阿里/拼多多的成长都与物流基础设施有着紧密的联系。京东在快递行业尚不成熟的时期自建物流体系，通过优质的用户体验获得竞争优势；阿里巴巴与“三通一达”等快递公司相互成就，形成了今天高效率的阿里电商生态；拼多多则在2016年开始享受了快递网络在三四线城市的下沉红利，成为了电商行业的新巨头。

我们选取了社会消费品零售、主流电商APP 用户、重点品牌天猫旗舰店、跨境电商流量四类月度频次更新数据，从宏观和微观角度来跟踪零售行业消费景气度、电商用户数量和行为变化趋势、品牌电商运营情况、跨境电商网站流量情况等指标。

公司通过生产并出售高性价比的手机及IOT 硬件绑定用户，基于硬件入口搭载互联网服务业务进行变现。手机与IOT 总硬件收入占比约90%，硬件引流能力强。2018Q3 互联网毛利占比总毛利49.16%，毛利率高达68.39%。公司费用率极低，承诺硬件综合净利率永不超5%，高效率支持高性价比。

中国制造业长期处于全球分工的较低端，但依靠人口红利发展低端制造业的时代渐远；目前已经进入经济转型期，产业向高端化发展，人才结构需与产业匹配。

公司通过生产并出售高性价比的手机及IOT 硬件绑定用户，基于硬件入口搭载互联网服务业务进行变现。手机与IOT 总硬件收入占比约90%，硬件引流能力强。2018Q3 互联网毛利占比总毛利49.16%，毛利率高达68.39%。公司费用率极低，承诺硬件综合净利率永不超5%，高效率支持高性价比。

依托“拼购”+“社交”提供价格低廉的商品，平台迅速崛起。1）拼多多创立于2015 年9 月，定位为最广大用户提供物有所值的商品和有趣互动购物体验的“新电子商务”平台；2）公司依托“拼购”+“社交”提供价格低廉的商品，即通过创新的商业模式和技术应用，对现有商品流通环节进行重构，持续降低社会资源的损耗，为用户创造价值；3）截止到2018年底，拼多多平台已汇聚4.185 亿买家用户和360 多万商户，2018Q4 月均活跃用户达2.73 亿，活跃买家人均年消费达1126.9 元，平台年交易额达到4716 亿元，迅速发展成为中国第三大电商平台。

纯线上流量红利减退，获客成本高企，营收增速下滑。深度运营存量用户，持续优化C端体验，全方位提升用户粘性。加速下沉低线市场，挖掘社区社群流量红利，打开新流量入口。