There has been a lot said lately about the impact of online shopping on the retail world. With sales increasing each year, especially with events such as Cyber Monday and the draw of shopping in your sweats, many retailers are making changes to deal with the onslaught of consumers stopping by the website rather than the physical location. But what about the CPG industry – is it facing the same transformation as other retail sectors?
A recent release from Canadian Grocer addressed this issue in their post “Online: a big opportunity for CPGs?” According to the article, CPG industry executives are not so quick to jump on the online bandwagon because many of them believe that “consumers aren’t really interested in buying milk, toothpaste and other consumables on the web.”
Is this assumption correct? According to a Deloitte survey of consumers and CPG executives it isn’t. Instead of finding that consumers are not that interested in heading online to buy daily essentials, the survey found that consumers expect online sales to grow quite quickly over the next 3 years – far faster than industry executives think to be the case. When it comes to CPG, clearly consumers can be expected to follow the same trend as with other retail sectors.
So, with this in mind, do company heads think they are ready? The articles states that although “ninety-two per cent agreed that e-commerce is a strategic sales channel… only 3% of executives think their company has a clear understanding of e-commerce.”
Knowing that e-commerce within the CPG industry is bound to experience a spike in online sales over the next few years, there should be a focus on getting online channels up and running. Are you ready?
For more on the impact of online sales on the CPG industry and how you can prepare your company please contact Storesupport today by calling 1-877-421-5081, or visit us online at www.storesupport.ca.