Only 4 years ago, online sales accounted for less than 1 cent in each dollar spent on packaged goods – the reason why the Consumer Packaged Goods (CPG) industry has been in disinterest for e-commerce. Yet, this has all changed. The CPG industry is undergoing a big transformation where more and more consumers are looking to buy groceries, personal care, and beauty products online.
In fact, McKinsey reported that e-commerce will grow by $15 billion to $50 billion by 2020 – with winning CPG companies’ online sales growing 3x faster than their competitors.
This new trend will pose difficult challenges to brand managers who are still used to the dynamics of brick and mortar stores. This also holds true to many brands that still offer roughly the same product portfolio online as offline, possibly leaving money on the table and opening up for competitors to move in and steal market share.
To help you succeed in the new digital world, this 30-minute webinar will explain how you can build strong product portfolios specifically designed to compete and win in online markets.
E-commerce in CPG industry: What you’ll learn in this webinar
SKIM is known for expertise in price and product portfolio management across consumer industries. In this webinar, you will learn how to adapt the key principles of successful portfolio management for successful execution online.
- Understand the challenges of e-commerce sales compared to traditional brick and mortar
- Understand the potential ways that e-commerce can actually create more control for brands by creating stronger connections with the consumer
- Get actionable tips for how to build products and portfolio that mitigate and manage the uncertainty of e-commerce