The fast moving consumer goods market is experiencing dramatic changes, with expectations of 15 million new retail outlets required to serve approximately one billion customers in 2015 in India. Sustainability in next 10 years demands, would require the industry players to re-think their product development process, cost structures, corporate setup, supply chain, marketing, sales and customer engagement process.
Currently, only 26% retailers have capabilities to allow customers to interact and transact with particular brand within the physical store through their mobile phones. Scale-wise, as the market structure is pyramid-like, with the smaller outfits being the largest base with the closest "personal" proximity to the customer, the digital mobilization is largely skewed to medium and large. Leveraging digital technology is the most effective way to compete and win in this highly competitive environment. Digitalization is transferring power and information from manufacturers and retailer
Digitalization of a landscape as wide, broad and deep like this requires not only initiatives to be taken, but also a positive adaptation from consumers and prosumers. The "digital FMCG enterprise" of both today and tomorrow need to create myriad variety of push and pull initiatives to involve the consumer without increasing CPA which is critical to maintain competitive advantage in an environment that is anyhow cut-throat as goes competition, interestingly for this industry, from the smallest all the way to the largest player.
In traditional marketing, campaigns for every FMCG product would rely on the right marketing mix of the 4 P’s (Product, Price, Place and Promotion) that influence the target audience’s buying decisions.
Today, however, consumers are making buying-decisions differently and with this, strategies aimed at impacting this process need to evolve as well. Consumers now are exposed to their phone and laptop screens more and that's why the FMCG industry also needs to market their product digitally to reach the customers.
Fast-Moving Consumer Goods [FMCG] are products that need to be sold quickly with a cost effective method. Our web solutions for FMCG include Purchase Feature, Billing Feature, Configurable Invoice, Taxations and. Inventory Management. We provide flexible, fast paced and easily scalable.
IoT based connected supply chain administration system has produced its place in FMCG industry as it assists businesses to track as well as manage the delivery fleets helping to decrease downtime due to material lack as well as vendor hold-ups.
Mobility solutions are the new way ahead to improve results and bring efficiency. Our mobile app development solutions are helping FMCG businesses reach out to customers, retain existing customers, analyze markets and results, and offer effective value propositions with minimal investments.
According to research by Accenture Artificial Intelligence (AI) will have the power to increase productivity by 40% and boost profitability by 38% by 2035, AI can help businesses track their wastage levels, potential security lapses, and food safety standards that need to be improved.