Customers’ buying habits have changed as a result of digitalization and internet usage. Customers have switched from brick-and-mortar establishments to e-commerce, or internet purchasing since it offers better services and convenience. The retail omnichannel commerce industry will be impacted by the increasing use of e-Commerce for FMCG since the software connects the e-Commerce platform with the brick-and-mortar stores.
Large volumes of data are available on public and private network connections as a result of real-time data transmission across diverse devices. Retailers can now provide technologically enhanced products thanks to the Internet of Things. In smart cities, all communication devices (laptops, PCs, smartphones, wearables, etc.) use IoT-based platforms, which is predicted to drive the expansion of the e-commerce market for the FMCG industry.
The Impact of the COVID-19 Pandemic on the FMCG E-Commerce Market
The e-commerce market for FMCG decreased by 5-7 percent in Q1 and Q2 of 2020 due to supply chain disruptions. Many countries’ governments have imposed a lockdown, which has resulted in delivery delays or outright cancellation of orders. Several other issues have arisen as a result of the pandemic, including product safety problems, excessively high price inflation, cybersecurity risks, and deceptive activities.
Competition in the E-Commerce Market for FMCG Products
Some of the market participants identified across the value chain in the global e-commerce market for FMCG include:
- Shopify, Inc.
- SAP SE
- Oracle Corporation
- Magento Commerce (Adobe)
- Salesforce.com, Inc.
- Intershop Communications AG