Wednesday, June 19, 2024

Euromonitor solution to help drive e-commerce growth

Market research company Euromonitor International has launched a new data solution that focuses on e-commerce, providing businesses with market intelligence and valuable insights to aid their decision-making process on how consumers are engaging with brands online.

The new Euromonitor E-Commerce solution provides online sales data by industry, category, company, brand, and retailer, updated every three months. This data helps companies benchmark performance, uncover growth opportunities, strike the right partnerships and gain a competitive advantage to enhance their online successes.

According to Euromonitor, the global pandemic accelerated growth of e-commerce sales, as companies increased their focus on digital sales channels due to lockdown measures. Consumers spent USD 3.3 trillion shopping online in 2022, 65% more than before COVID-19. E-Commerce is forecast to remain a dominant force in retailing, accounting for 47% of retail growth by 2027.

Euromonitor International Head of E-Commerce Jared Koerten says, “We are excited to launch the new Euromonitor E-Commerce solution, which will provide our customers with the insights they need to make informed decisions and drive growth in the e-commerce space. As e-commerce continues to dominate retail, it is more important than ever for companies to have access to accurate and reliable online sales data. We believe that this new solution will be a game-changer for businesses looking to grow and thrive in the digital age. By providing detailed quarterly insights into the e-commerce landscape in 12 countries, we can help businesses to identify new online opportunities and optimise their digital presence.”

In Australia, consumers spent USD 45.7 billion on online shopping in 2022, which increased by 27% compared with 2019. Forecasted around USD 63 billion in 2027, fulfilment methods including pick-up in-store or online purchases can be further analysed.

Euromonitor International Head of Insights Tim Foulds says, “In Australia, post-pandemic consumers are becoming more mindful of their product choices, origin, and the environmental cost of their food. They also seek budgetary options in the short to medium term.”

A few highlights of the Australian online market in major FMCG industries are:

  • Alcoholic drinks in Australia were the third best performers globally in the online space at USD 707.6 million. Whiskey and still light grape wine are top performers with online sales of 55.8% and 77 %.
  • Australia is the fourth largest dairy products and alternatives market globally in the online space, with USD 603 million, the online dairy market being the largest (86%) then baby food (eight per cent) and lastly plant-based dairy at seven per cent.
  • Australian beauty and personal care market accounted for USD 1,098 million in online retail value sales in 2022, consumers spent the most in skin care in online at 27.8%, followed by colour cosmetic product (17.1%) and fragrance (16.6%) in the second and third places, respectively.

Euromonitor’s E-Commerce solution maps stock keeping unit (SKU) level purchase data from clickstream panels, e-receipts, and online retailers to a globally standardised category taxonomy for easy tracking and comparison. The solution covers more than 400 retailers that account for at least 80% of total online sales across the 12 countries and industries tracked and captures the online shopping behaviours of more than 10 million panellists.

Euromonitor’s E-Commerce solution includes:

  • Quarterly online sales for 12 FMCG industries in 12 countries. Countries covered include Australia, Brazil, Canada, France, Germany, India, Italy, Mexico, Poland, Spain, the United Kingdom, and the United States of America. Industries include alcoholic drinks, beauty and personal care, consumer health, home care, hot drinks, soft drinks, dairy products and alternatives, cooking ingredients and meals, snacks, staple foods, pet care, and tissue and hygiene.
  • Market sizes for each of the 12 industries and 500 FMCG categories.
  • Market shares for companies, brands and retailers in 301 categories.
  • 400+ retailers covering 80%+ of the e-commerce landscape in 12 countries.

This launch is part of Euromonitor International’s ongoing commitment to providing businesses with the most comprehensive and up-to-date business intelligence solutions. With over 50 years of experience in market research, Euromonitor International is uniquely positioned to help businesses navigate the complex and rapidly evolving e-commerce landscape.

For more information, visit Euromonitor International’s e-commerce website.

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