There’s a new retail revolution underway, and it’s going to affect the global food industry in ways the market hasn’t seen before. The revolution comes at the hand of store-branded products, which continue to gain share across all major geographies.
While sales of fast-moving consumer goods in some traditionally successful markets like the U.S. saw signs of softness in early 2017, opportunities for growth are still readily available if you know where to look.
There’s a new retail revolution underway, and it’s going to affect the global food industry in ways the market hasn’t seen before. The revolution comes at the hand of store-branded products, which continue to gain share across all major geographies around the globe.
For a decade, emerging markets have ignited the global economy, contributing more than 80% to its economic expansion. Today, these markets consistently perform a remarkable three to four times better than their developed market counterparts in the FMCG industry.
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Digital retailing gives consumers more ways to shop and more access to products and services than ever before. It’s clear that consumers are embracing the freedom of shopping whenever and wherever they please, as online sales are capturing a double-digit share of retail dollars in some markets.
Backed by rising consumer confidence and optimism, many of the world’s economies are experiencing degrees of positive momentum. In some cases, that momentum is strong; in others, it’s subtle, but still worth noting.
Thanks to globalization and connectivity, consumers around the world have access to a wider array of products than ever. So how much weight does the “made in” moniker carry when it comes to purchase motivation?
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.
Retail e-commerce is an underutilized channel that is about to change rapidly. Discover what the key forces are in winning in this fast changing market environment.