Growing dependency on online shopping in India is forcing store-based retailers to reassess the purpose of physical outlets.
New Delhi: India is expected to generate an additional INR7 trillion in online sales by 2025, according to new data from global market research company Euromonitor International.
In a new report, “Top Trends Influencing India’s FMCG Industries in 2021,” Euromonitor identifies the most impactful trends shaping the future of India’s fast-moving consumer goods (FMCG) markets, helping companies define priorities and opportunities in a post-pandemic environment.
India witnessed a spike in online demand for essential goods and foodservice in 2020, leading to an increased use of digital payment solutions like digital wallets while also highlighting flaws in the current infrastructure.
According to Euromonitor’s Voice of Consumer: Digital Survey 2021, 42% of connected consumers find longer than estimated delivery times as the biggest challenge when shopping online.
“India is anticipating a third wave of COVID-19 infections near the end of 2021, causing brands and retailers to continue investing in the digital space to strengthen online distribution,” says Vishnu Vardhan, consultant at Euromonitor International.
Growing dependency on online shopping in India is forcing store-based retailers to reassess the purpose of physical outlets.
“Companies are leveraging technologies that integrate offline with online channels to provide a seamless shopping experience,” Vardhan concludes. “Brands and retailers must implement strategies to meet consumer demands quickly and efficiently.”
Download a free copy of Euromonitor’s “Top Trends Influencing India’s FMCG Industries in 2021” report to discover the opportunities that India will present to the FMCG industry in a post-pandemic world.
About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. Find the right report, database or custom solution to validate priorities, redirect assumptions and uncover new opportunities. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets.
Content Source: Business Wire India
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