Amid the opportunity, however, established FMCG brands, retailers and manufacturers need to understand the factors driving success in e-commerce across their focus markets in order to suitably expand their omni-channel strategy for business growth. Product Flanking: Product flanking refers to the introduction of different combinations of products … Press release - Facto Market Insights - FMCG Market Report to observe Potential Impact of Coronavirus (COVID19), Industry Dynamics and Future Growth, 2020-2025 - published on openPR.com AMA Research added a comprehensive research document of 200+ pages on ‘FMCG Packaging’market with detailed insights on growth factors and strategies. The fast-moving consumer goods (FMCG) sector represents one of the largest industries worldwide. We’ll look at: It therefore, captures changes during an unprecedented timeframe: the ‘COVID-quarter’. From announcing enticing bonuses to incentive trips programs, FMCG sales leaders go great lengths to boost top-line figures. The foundation of the four key pillars has the purpose to help retailers and brands redirect costs to invest in bold new opportunities. The consumer packaged goods (CPG) industry is an enormous one. IRI has identified that the consumption of media has grown through COVID-19, and there is an opportunity to increase marketing efforts. Though the FMCG market is expected to grow at 9-10 per cent by 2020 based on moderate inflation, increase in private consumption and rural income, as per an India Brand Equity Foundation report. Whilst increasing activity is desired, ensuring that a brand’s message hits the mark is key, otherwise the opportunity is wasted. Shoppers will be spending less in 2020-21 and will have a greater focus on price. W         invigorate.com.au IRI has identified a number of ‘no gos’ for marketing in the COVID-19 era: inauthentic pretenses to care, melancholic music, self-interested messaging, generic inspirational advertising, gimmicks and disconnections to historic brand values. These strategic pillars of growth will help Australian FMCG retailers and brands to achieve the goal of sustained growth throughout this period. Efficiencies in range and supply will help meet demand and shopper expectations. 6 proven techniques to increase sales for an FMCG business. Pricing is core to a brand’s proposition and positioning. The growth of discounters has accelerated the trend toward private-label goods and split companies into two camps. Cutting back on the SKUs drives supply chain efficiencies and aids efforts to get stock on the shelves for consumers. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The importance of data in developing omni-channel FMCG strategies. If you have the capacity, invest in innovation while your competitors aren’t. FMCG Brands are always in search of ingenious ways to increase the field sales team’s performance and productivity. Uber. For example, people must purchase food regardless of economic conditions. Key Success Strategies 8 The FMCG Growth Areas 9 Nigeria 11 Angola 13 Ghana 14 Morocco 15 Sources of Information 16 Contact Details 17 Table of contents. Though the absolute profit made on FMCG products is … consumers need these things in their everyday life so they invests How can we help you supercharge growth and profitability? “Meanwhile, use promotional strategies to draw consumer attention to brands with higher elasticity. recognized FMCG companies. After having gathered this set of information, you will have got a feeling for the type of growth that is demanded. Examples include non-durable goods such as soft drinks, toiletries, and grocery items. The report also presents the current state of the industry in Africa and the long term growth outlook. 6.4.2 Impact on Customers' Output & Strategies to Resume/Improve Production 6.4.2.1 Short-Term Strategies to Manage Cost Structure and Supply Chains 6.4.3 New Market Opportunities/Growth Opportunities Increasing spend in a recession can help brands tap into new opportunities. Growth strategies are basically about decisions related to allocating available resources among different target markets and retail formats, transferring resources from one set of merchandise to others and managing and nurturing a portfolio of business in such a way … Whilst everyone else is pulling out, you’ll be taking advantage of the new opportunities. If you continue browsing the site, you agree to the use of cookies on this website. As a result, businesses that can position their products as necessary expenses will manage the recession well,” IRI Chief Commercial Officer for Asia Pacific, Alistair Leathwood said. The FMCG Packaging Market is expected to grow at a CAGR of 4.6% over the forecast period 2020 to 2025. Also labelled ... and concludes by identifying FMCG growth spots on the continent. Around 72 per cent Indian consumers are most likely to shop online One path toward greater RGM impact is to elevate RGM to shape the company’s commercial strategy rather than just enable it. CPG, FMCG & Retail 05-29-2020 Adapt Your Shelf Strategies During Disruptive Times with Retail Data Based on this information, you can then decide which growth strategy to implement. Managing the customer experience has become a major differentiating factor and an important driver for growth. IRI’s two-part report ‘FMCG In the ‘COVID Quarter’ and Preparing for a Recession’ has identified and developed four key growth strategies for the FMCG sector … Strategy 2: Focus less on products and more on ethics and ethos. However, the growth of the FMCG market affected by the high competition in the major market players of FMCG market. See our User Agreement and Privacy Policy. For more information, visit www.iriworldwide.com. FMCG UK: E-Commerce Strategies Despite the slow growth of online sales in the U.K. fast-moving consumer goods (FMCG) market, there is stiff competition on retailer platforms from private labels and independent brands. Because of the mixed sources of data, the specific timeframes vary but are clearly stated on each slide. P          0432 978 174 FMCG market in India is expected to grow at a CAGR of 20.6 and is expected to reach US$ 103.7 billion by 2020, according to the IBEF report. FMCG Fast-moving consumer goods (FMCG) or consumer packaged goods (CPG) are products that are sold quickly and at relatively low cost. 78 percent of consumers say they have a stronger affiliation to brands that go ‘above and beyond’. Invigorate PR is a full service boutique public relations company that works with idea champions and businesses of all sizes throughout Australia and across the world. According to the Business Association of Stanford Entrepreneurial Students, 84% of professionals working for fast-moving consumer goods are under more pressure to quickly bring new products to the market than they were five or ten years ago. “Investing in tracking how Australians are reassessing priorities, reallocating budgets, switching between brands and product categories, and redefining what represents ‘good value is more important than ever in navigating the path ahead. Ansoff matrix is one of them. Traditionally, core RGM interventions have been tactical in nature (for example, adjusting prices based on consumer price elasticities or reallocating trade investments toward higher-growth categories and accounts). Mostly, FMCG Company Asst. Try to strengthen the brands with lower elasticity,” Leathwood said. Also Read: India FMCG Sector Growth Slows For 5th Straight Quarter: Nielsen “When the economy is a little slow, consumers tend to go back to their favourite brand. In order to boost profitability, FMCG companies employ marketing mix strategies. Note: F-Forecast, 2018* - Data relates to the financial year FY18 Rather, it’s many granular ones that are specific and attribute-based. However, global economic uncertainty may be threatening GDP growth in the short term. Beverages and personal care equipment are the categories with the highest growth rates. The time is ripe for out of the box innovation. 1. The current recession is the most brutal economic downturn in a lifetime. Thus, it is essential to understand new consumers and how to reach them efficiently, profitably and in a way that makes an impact. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Sydney, Australia – 10 August, 2020 - IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced that research by IRI has identified key areas of risk for Australia’s FMCG sector and the urgent action required to ensure businesses survive the COVID-19 pandemic. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain. Fast Moving Consumer Goods popularly known FMCG is as the name suggests is the most demanded products in the market. recognized FMCG companies. Refer customers. Invigorate PR. The country’s largest market researcher on Wednesday said value growth in the FMCG space in the April-June quarter of 2019 dropped to 10% from a year ago. Fast-moving consumer goods (FMCG) sector is India’s fourth largest sector with household and personal care accounting for 50% of FMCG sales in India. Growth Strategies For Fmcg Companies In India Marketing Essay. Meanwhile, its dynamics are changing. About the Growth Genius: Juhi is a 2020 Economic Times Women Leader awardee who is known for driving strategic cross-functional digital transformation initiatives with leadership teams. FMCG. No public clipboards found for this slide. Though the FMCG market is expected to grow at 9-10 per cent by 2020 based on moderate inflation, increase in private consumption and rural income, as … Growth Software Tools. Fast-moving consumer goods (FMCG) sector is India’s fourth largest sector with household and personal care accounting for 50% of FMCG sales in India. An important characteristic of the FMCG companies is price competition among retailers. Household and personal care products accounts for 50% of the sales in the industry, healthcare accounts for 31-32% and food and beverage … You can change your ad preferences anytime. See our Privacy Policy and User Agreement for details. Fast Moving Consumer Goods (FMCG) brands are increasingly using influencer marketing as part of their wider marketing strategy. The current pace of change makes it more critical than ever to continually understand consumers’ changing attitudes and behaviours,” Leathwood said. Between December 2019 and the end of February, Nike reported more than 35% growth in its online sales in greater China over the same period the previous year. Growth Strategies For FMCGAli HeydariMBA – MarketingIV Semester 2. One of the biggest areas of growth in mobile usage will be in tier 2 cities and small towns in India. 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