The growth of online purchasing presents a tremendous opportunity for CPG companies to develop new business models, assets and revenue streams—both in and across online and traditional channels. The circular economy, tailor-made and on-demand services, automated retail using AI and IoT, and subscription-based retail models with automatic renewals are just some of the ways CPG companies can capture billions of dollars in new revenue. In 2010, online sales generated $21 billion in revenue. By 2016, that figure had climbed to $60 billion. In 2022, it is expected to surpass $108 billion for the Top 10 eCommerce markets. https://topmint.ng/

But eCommerce is much more than a channel for sales. For those customers who won’t buy a product unless it is available online, eCommerce serves as a stand-alone market. Above all, eCommerce is a direct conduit to the consumer and to a much better understanding of consumer personas and preferences. As customers increasingly block third-party tracking, a direct-to-consumer conduit allows CPG companies to capture rich consumer data and insights that they can subsequently use to create more relevant and satisfying experiences across all channels.
In fact, the digital footprints that online shoppers leave behind are arguably as valuable as the tangible online purchases they make. By leveraging their direct-to-consumer channels for insights, CPG companies can generate higher returns from their existing CRM investments because the eCommerce customer data is complete, accurate, timely and qualified.

Leading CPG companies recognize the imperative of building their eCommerce capabilities as a critical step on their journey to becoming a modern CPG company. Those that invest wisely in core areas of eCommerce today will be the ones to deliver endless aisles, capture endless insights, and pursue endless opportunities for growth in the years ahead.

Developing online channels that appeal to younger consumers is a smart move. But CPG companies can further refine their online investment strategies by looking at distinct pockets of value. Targeting the right high-growth areas starts with understanding geographic and product category growth opportunities. With those insights, CPG companies can develop specific initiatives aimed at boosting online sales of targeted products and strengthening their omni-channel sales strategies. Contact us here. https://topmint.ng/reach-us/