As manufacturers and retailers seek to capitalize on the opportunity of e-commerce, they need to understand consumers’ online usage, behaviour and habits, as well as what’s driving e-commerce adoption.
It’s undisputed that internet accessibility, mobile technology and digital innovations are redefining consumers every interaction and will continue to enable and disrupt many aspects of consumers’ lifestyle well into the future.
Global FMCG retail is pegged at $4 trillion today, growing at a rate of just 4%, with signs of continuing sluggish performance in developed markets. On the other hand, total retail e-commerce is predicted to grow by 20% (combined annual growth rate) to become a $4 trillion market by 2020.
As the e-commerce channel expands, the future success of brands will be significantly affected by how successful they are online. As increasingly time poor consumers seek convenience and on-the-go purchases, online sales of FMCG will gain more importance.