Brands and retailers continue investing in the digital space
India is expected to generate an additional Rs.7 trillion in online sales by 2025, especially the fast-moving consumer goods (FMCG) markets, according to new data from global market research company Euromonitor International.
In a new report, “Top Trends Influencing India’s FMCG Industries in 2021”, Euromonitor identifies the most impactful trends shaping the future of India’s FMCG markets, helping companies define priorities and opportunities in a post-pandemic environment.
India witnessed a spike in online demand for essential goods and food-service in 2020, leading to an increased use of digital payment solutions like digital wallets while also highlighting flaws in the current infrastructure.
According to Euromonitor’s Voice of Consumer: Digital Survey 2021, 42% of connected consumers find longer than estimated delivery times as the biggest challenge when shopping online.
“India is anticipating a third wave of COVID-19 infections near the end of 2021, causing brands and retailers to continue investing in the digital space to strengthen online distribution,” Vishnu Vardhan, consultant at Euromonitor International, said in a release on 23 Sept 2021 from Bengaluru.
Growing dependency on online shopping in India is forcing store-based retailers to reassess the purpose of physical outlets.
“Companies are leveraging technologies that integrate offline with online channels to provide a seamless shopping experience,” Vardhan said. “Brands and retailers must implement strategies to meet consumer demands quickly and efficiently.”
London-headquartered Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. #investment #technology #manufacturing #exports #banking /fiinews.com
