The digital innovation witnessed in recent times is pushing the FMCG industry make its presence felt in the eCommerce market and leverage the opportunities that a brick-and-mortar store can’t offer. Other factors leading to this change include changing consumer preferences and competition from new market entrants. To foster a smooth transition, FMCG companies need an exhaustive digital transformation strategy framework.
As the landscape of shopping has dramatically transformed over the last few years, a confectionary player asked RedSeer to study and explore the dynamics, potential, and growth of select impulse and non-impulse food categories and impulse categories in the non-food segment on the online channel to gauge the addressable potential opportunities. While retail still holds a lot of significance, RedSeer had to note how e-commerce has taken off and is expected to further aid FMCG brands in driving sales, increasing market share, and attracting new customers.
RedSeer first decided to test the Omni-channel approach which is basically replicating an offline strategy. This was to understand how eCommerce is set to play a big role in the growth of FMCG businesses and maximise efficiency. Further, for precise and clear branding of a product, a personalised experience for the consumers is essential.
It was noted that FMCG businesses should look to enhance the scope of their online offerings by increasing coverage for delivery; offering more convenient and quick delivery options, and providing items or products that are hard to find offline.
Most importantly, an assessment of the Online Potential of Impulse and Non-Impulse Food & Beverage Category across key online grocery platforms such as Bigbasket, Grofers, Amazon Pantry, and Flipkart basis expert interactions across platforms and key brands in each category was conducted. This was to understand how the players offered a wide range of best quality grocery, personal, and household products at affordable prices.
Further, assessment of the market potential of impulse categories (other than food & beverage) which have witnessed good traction on online channels was held to understand the growth strategy of leading brands in these categories and to take learnings from these case studies for brands in food categories.
With the insights offered by Redseer, the client was able to lure customers to the brand’s official website and also drive its eCommerce presence. The strategy further helped in enabling a seamless user experience and build enhanced trust.