Global Online FMCG Market To Jump By 47% By 2016 -- Kantar Worldpanel
Published on Jun 18 2014 9:03 AM in Technology
Global e-commerce sales in the FMCG sector are set to explode over the next two years, growing by almost 50 per cent, according to a new report by Kantar Worldpanel.
Kantar’s research investigated the purchasing habits of 100,000 shoppers in ten of the biggest online FMCG markets globally.
Internet FMCG sales will rise by 47 per cent to $53 billion over the next two years, predicts Kantar. By the year 2016, online will account for 5.2 per cent of total global FMCG sales, up 1.5 per cent from its present 3.7 per cent. Asia will be the next major growth area, reports Kantar.
The company identifies South Korea as a key market to watch, with web-based FMCG sales accounting for 13.8 per cent of FMCG sales by 2016. Online sales are also expected to grow in Taiwan and China, accounting for 4.5 per cent and 3.3 per cent of the total FMCG market, respectively. All countries are witnessing considerable growth in this area, said Stéphane Roger, global shopper and retail director at Kantar Worldpanel.
With the future belonging to retailers and brands that see the bigger picture and leverage the opportunities provided to broaden their target markets, he said that "being a slow adopter has the potential to significantly damage sales and erode market share. Having an online offer helps retailers to secure additional revenue rather than cannibalising existing spend in bricks-and-mortar stores.”
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