Retailers and FMCG brands in India can achieve healthy growth rates by focusing on hassle-free online payment mechanisms, cybersecurity, and sustainability, according to a report by Deloitte-Ficci. The report recommends personalized conversations, enhanced customer loyalty programs, and a robust cybersecurity regime for data protection to meet the evolving consumer behaviour influenced by technology. The direct-to-consumer market has picked up with more than 1.35 billion potential customers across regions. Retailers and FMCG companies are re-aligning their businesses to improve the consumer and shopper experience by building agility in distribution networks, accelerating adoption of technology for omnichannel growth, and digitizing the supply chain through sustainable business practices. Brands must adapt their marketing plans to the evolved shopper journey and create a seamless shopping experience across channels. The pandemic has accelerated the need for environmental, social, and governance (ESG) adoption worldwide. As a result, FMCG companies and retailers are expected to incorporate sustainable practices as an integral part of their business models.
A recent report suggests that a focus on hassle-free online payment mechanisms, cybersecurity, and sustainability can help India’s retail sector achieve a healthy growth rate. As the fast-growing retail and FMCG brands rebound from the pandemic’s effects, the report recommends personalized conversations, enhanced customer loyalty programs, and robust cybersecurity measures to protect customer data. The direct-to-consumer market has seen a significant increase in demand with the rising adoption of digital infrastructure and smartphone usage, offering more than 1.35 billion potential customers across regions.
Retailers and FMCG companies are adapting to improve the consumer and shopper experience by building agility in distribution networks, accelerating technology adoption for omnichannel growth, and digitizing the supply chain through sustainable business practices. With an ever-changing landscape, innovation and adaptation will position businesses for success.
The report emphasizes the need for retailers to adapt their marketing plans to the evolved shopper journey and create a seamless shopping experience across channels. Brands are building agility in distribution networks, accelerating technology and processes to drive overall growth, and focusing on sustainable business practices to digitize their supply chain.
The pandemic has also accelerated the need for environmental, social, and governance (ESG) adoption worldwide. As a result, FMCG companies and retailers are expected to incorporate sustainable practices into their business models. The report concludes that embracing a purely digital future is essential for the industry to stay ahead of the curve and succeed.
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