Packaged-Goods Marketers Wade Warily Into E-commerce
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"Finally, after decade of transformational impact on other sectors of the economy, the new frontier of e-commerce has come to food. Ready or not, our industry must do a much better job of leveraging this channel."
This candid quote acknowledging the untapped potential for food and beverage marketers in the online space was delivered by Campbell Soup Co. CEO Denise Morrison to analysts this summer at the company’s investor day.
Online sales of food and beverages will account for only 2.3{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of the $304 billion that will be spent on e-commerce retail in 2014, according to projections from eMarketer. Add in health and personal-care brands and consumer-packaged goods will account for only 8{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of the online market. Put another way, online buying comprised only 1{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of the $666 billion in consumer-packaged-goods sales in 2013, according to a recent report prepared for the Grocery Manufacturers Association by The Boston Consulting Group, Google and IRI. Ad Age – Read more…
