Thematic Intelligence - Ecommerce in Consumer Goods, Foodservice, Packaging

Thematic Intelligence - Ecommerce in Consumer Goods, Foodservice, Packaging

Summary

Convenience sells. Consumers have grown reliant on the services ecommerce provides, which allow them to purchase items and have them delivered to their homes, sometimes within the hour. As this becomes the norm, companies with ecommerce capabilities must innovate and adapt to satisfy consumers' growing demands.

Ecommerce, or electronic commerce, refers to the buying and selling of goods and services using the internet. Ecommerce platforms have considerably altered the traditional shopper journey. No longer are shoppers comparing products across only a handful of physical stores. Instead, they have access to a wealth of instantly available information, with the ability to compare prices at the click of a button. The advantages of ecommerce over traditional retail are plentiful. Online retailers enjoy lower costs and access to a larger customer base. They are always open for business, easier to scale up, and collect vast troves of detailed customer data.

Naturally, ecommerce is not perfect. There are many considerations ecommerce players must bear in mind to ensure that they are catering to the unique needs of online customers. For example, since purchases occur online, customers cannot touch or try on products before buying. Consequently, online transactions often feel less personal. Consumers also have different preferences. For example, some may find chatbots on websites useful, while others may find them annoying and unhelpful.

Scope

• Ecommerce allows companies to sell their products or services without needing a physical presence. Increased rents, exacerbated by high interest rates, have made online real estate increasingly attractive.
• In response to the ecommerce trend, grocery stores are investing in more digital-first methods such as quick-commerce warehouses and direct-to-consumer channels.
• Foodservice providers are looking into food delivery solutions and virtual kitchens. Packaging brands are also specializing in ecommerce with robust sustainable solutions.
• As more and more sellers go online, the ecommerce landscape will continue to evolve to provide for the ever-expanding range of goods on offer.

Reasons to Buy

• Gain insight into the latest ecommerce trends in FMCG and who are the leading companies in the theme.
• Identify emerging digital sales strategies to help better position your company.
• Discover how rapid enforced changes over the past year will influence consumer reactions.