In this white paper, we will show you how to size opportunities and win in the digital space. We’ll use an example of a global beauty player in the US facial care space to highlight some of the indispensable ways e-commerce data can be applied to building both strategic and tactical brand goals. The illustrated use cases can be similarly applied within any FMCG category with an online presence.
Coronavirus (COVID-19) is significantly accelerating the growth of online sales for many categories. This expansion of e-commerce platforms is expected to be permanent, especially since the full potential of the existing e-commerce infrastructure is yet to be fully exploited and has capacity to support even further growth. Consequently, the importance of revamping or building e-commerce strategies will be critical for future success.
There are vast and divergent volumes of e-commerce data available from a wide variety of sources. Companies need to understand how to best harness all this data to develop successful competitive strategies, to inform and ascertain both long-term strategic objectives and short-term goals.
Why does e-commerce matter now?
COVID-19 radically shifted consumer shopping behaviours. Besides shopping more in already-familiar categories, consumers turned to e-commerce for a range of categories for the first time during the pandemic, permanently increasing the number of e-commerce shoppers. New shoppers, specifically baby boomers, also came online for the first time, driving the boom in researching products and services online, according to data from Euromonitor International’s Voice of the Industry: COVID-19 Survey
The article is property of Euromonitor International, a market research provider, and can be read in full here.