Most Fast Moving Consumer Goods Being Sold Online Now
The growth of fast-moving consumer goods (FMCG) online is truly astounding.
But let’s make sure you know what FMCG’s are.
Fast moving consumer goods, also known as consumer package goods, are products that are sold quickly and at a relatively low cost. Examples include packaged foods, beverages, cleaning products, toiletries, over-the-counter drugs and many other consumable products. In contrast, durable goods are goods that last for several years including automobiles, books, firearms, household goods (home appliances, consumer electronics, furniture, yard tools), tech devices, sports equipment, jewelry, medical equipment and toys.
Most fast moving consumer goods have a very short shelf life, either because we deplete them quickly, or because the product deteriorates rapidly. For example, some FMCGs, such as fruits and vegetables, meats, dairy products, and baked goods, are highly perishable. Other goods, such as pre-packaged foods, soft drinks, candies, toiletries, and cleaning products, have high turnover rates meaning we use them frequently.
Believe it or not, as we approach 2018, nine out of every ten dollars sold of fast-moving consumer goods industry come from online sales, according to an infographic (published below) by Grip, a web-based software that automatically generates images at scale.
One of the primary reasons for this is the acquisition of FMCG producers by huge ecommerce-driven platforms. One of the largest happened recently when Amazon bought Whole Foods.
This trend is another key indicator of the growth potential of ecommerce and digital marketing. The box stores are dying a slow death as more and more consumers prefer shopping online to traditional brick n’ mortar shopping methods. And this is great news for us!
Take a look at the infographic below by Grip