CONSUMER GOODS & E-COMMERCE
Consumer goods companies are adapting their capabilities and operating models to meet the changing needs of consumers and customers. The e-commerce industry experienced significant growth in 2020, driven by the COVID-19 pandemic, and this digital purchasing trend shows no signs of slowing down. E-commerce is projected to continue growing as more people gain access to the internet and online retail sales increase. By 2023, e-commerce is estimated to account for 20.8% of global retail sales.
TRENDS & CHALLENGES
The consumer goods and e-commerce industry is witnessing the rise of trends such as social commerce, personalization, augmented reality/virtual reality (AR/VR), subscription services, and sustainable and ethical shopping practices. Retailers are leveraging data analytics and artificial intelligence (AI) to deliver customized experiences through tailored product recommendations, targeted advertising, and personalized email marketing.
Social commerce is also gaining prominence, with experts predicting it to be worth $2.9 trillion by 2026. Retailers who embrace these trends and prioritize exceptional customer experiences will be well-positioned for success.
The FMCG sector has undergone a significant transformation, driven by changes in consumer behavior, urbanization, disposable income, and internet connectivity. E-commerce has experienced explosive growth, presenting opportunities for both large and small FMCG companies. In the future, retailers will focus on sustainability, ethical sourcing, packaging, and manufacturing, as well as reducing their carbon footprint.
E-commerce will continue to evolve alongside the increasing number of platforms and devices consumers use, requiring brands and manufacturers to constantly adapt and innovate to integrate seamlessly into consumers' lifestyles.
Disclosure: These key performance indicators are based on industry averages for a company with $10 million in revenue. The KPIs are not specific to the operational performance of your company or your sub-sector.
The information contained has been obtained from different sources deemed reliable, including DealStats, Deloitte, Dun & Bradstreet, and Business Reference Guide. Pacifica Advisors does not make any representation or warranty as to the accuracy of the data. PA is a mergers and acquisitions (M&A) advisor and business broker.