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.
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.
Mobile shopping is gaining momentum among U.S. consumers, particularly as smartphone penetration continues to grow and tablet ownership gains in popularity. From researching to price comparing to making purchasing, consumers are steadily increasing their e-commerce prowess via their mobile devices.
When it comes to U.S. consumer packaged goods, e-commerce is still in its infancy, accounting for roughly 4 percent of total CPG sales. But as companies work to eliminate one of the key barriers to online shopping—having to wait for your purchase—the digital channel will capture a much larger share of sales in the future.
Over the past decade, innovations have changed consumers’ behaviors and, consequently, retailers’ responses to their needs. Dr. Venkatesh Bala, chief economist for The Cambridge Group, a part of Nielsen, recently discussed the effect these new technologies could have on global consumers and commerce.