Global ecommerce will stimulate a boost in fast-moving consumer goods (FMCG) sales in the next two years, to the tune of $17 billion.
That’s according to a new report launched by Kantar Worldpanel, cited by freshbusinessthinking.com, which suggests ecommerce will account for $53 billion of global FMCG sales by 2016, marking a significant increase on the current $36 billion.
However, suggestions that a rise in online sales will dent transaction numbers from brick-and-mortar stores are off the mark. In China, ‘over 50 per cent of all online purchases are additional revenue for trailers and brands’ – a trend noticed across the globe, claims the report.
The most advanced market is South Korea, with online FMCG sales projected to reach 13.8 per cent of total worldwide sales. However France (6.1 per cent), the UK (5.5 per cent), Taiwan (4.5 per cent) and China (3.3 per cent) are also set to perform well, reports warc.com.
Stephane Roger, global shopper and retail director at Kantar Worldpanel, commented on the figures: “Although online only makes up a small share of FMCG sales at the moment, all countries are witnessing considerable growth.
“The future belongs to retailers and brands that see the bigger picture and leverage the opportunities provided to broaden their target markets. Being a slow adopter has the potential to significantly damage sales and erode market share.”