According to a emarketer research, Ad spending in the Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG) sector saw up to a 53% increase in Q2 of 2020.
In the UK, 2020 FMCG/CPG represented a 13.5% share in digital ad spend, earning second place, following retail at 20% ad spend. In the USA, CPG will make up 14.4% of all US digital ad spending in 2020, making it the third-largest spender among the industries.
The new post Covid-19 reality has propelled digitalization forward by five years.
McKinsey research suggests that it could take anywhere between three to ten years for us to feel that going to supermarkets is again a safe and convenient way of grocery shopping.
Httpool experts offer an analysis as to how FMCG/CPG brands can leverage Facebook, Twitter and Snapchat ads, harnessing the potential of this growing market, projected to reach $15,361.8 billion by 2025.
Thus this decade bears profound implications for the fast moving consumer goods/consumer packaged goods (FMCG/CPG) sector.
Companies will have to shift away from crisis mode, completing a fundamental realignment of their portfolio, and route-to-market strategies, in order to thrive. McKinsey forecasts that manufacturers and retailers will be compelled to switch to a hybrid model, combining digital commerce with products and services, delivered by neighbourhood stores.
A whopping 70% of consumers plan to continue or increase their online shopping beyond the lifting of Covid-19 restrictions, 57% said they intend to continue ordering online and also picking up goods at local stores, and 28% said they would prefer to avoid shops altogether.
Httpool is an Aleph Holding company, representing leading digital media platforms across Europe and Asia, supporting their growth, and driving business results for both traditional and native advertisers across 30 plus markets.