Online FMCG sales to soar by 163 per cent in four years, says IGD

Insight .
Online FMCG sales to soar by 163 per cent in four years, says IGD

Inside Retail Asia: Online FMCG sales are forecast to grow 163 per cent by 2023 across major markets, according to a new report from research organisation IGD, in association with The Consumer Goods Forum.

The report explores three digital retail models of the future and predictions for an increasingly digital food and consumer goods industry. It finds that Asia and North America will lead the way on the rate of growth, with Europe set to develop this channel at a comparatively slower pace. Major grocery e-commerce markets will continue to expand rapidly, growing at almost four times the rate of any other channel.

Online FMCG sales in Asia-Pacific are set to triple over the five year period, with IGD forecasting that in 2023, e-commerce’s share of grocery in Asia (7.5 per cent) will be twice that of North America (3.4 per cent), and close to three times larger than Europe’s (2.5 per cent). Asia-Pacific’s online grocery market will grow by 196 per cent by 2023, adding US$198 billion to the industry.

Full original article: https://insideretail.asia/2019/06/06/online-fmcg-sales-to-soar-by-163-per-cent-in-four-years-says-igd/#daily

 

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