Homegrown firms rule the roost in retail, report says

International retailers continued to lose ground to local companies despite a rebound in the fast-moving consumer goods market during the third quarter, an industry report said on Tuesday.

Kantar Worldpanel, a global market leader in consumer panels, said in the report that the consumer goods market posted a value growth of 5.7 percent for the 52-week period ending Sept 5 this year, much lower than the earlier levels.

Sector growth, however, rebounded to 6.9 percent during the period, much higher than the 4.7 percent recorded in the second quarter and 4.6 percent in the first quarter.