Retail

1010data Report Shows Consumer Packaged Online Goods Hit $10B In 2016

eCommerce has undoubtedly had a significant impact on the way people buy their products and services over the last few years.

To show how much eCommerce has impacted shopping, 1010data released its 2016 Online Consumer Packaged Goods (CPG) Industry Report this week. Since the integrated self-service data management and analytics platform company started conducting this study just a few years back, it has found online CPG sales surpass $10 billion for top categories. This large revenue is unique in that it is up from $7.6 billion in the year prior.

Specifically, this research found the top categories that earned more than $1 billion in sales per category were for health supplements, pet care and cosmetics. These items sold two times as fast as the total amount of eCommerce sales, which may in part be due to more online retailers providing a two-day delivery option to help expedite growth.

1010data’s senior vice president of marketing, Jed Alpert, commented in the company’s release about how eCommerce is impacting brands. He said, “With CPG sales hitting $10 billion in sales online across key categories, online eCommerce is clearly no longer an afterthought for brands. All CPG brands need to understand how consumers are shopping in their categories and consider how eCommerce can help deliver a better experience and complement in-store sales.”

The world of eCommerce is a dominant force impacting retailers in nearly every industry. To help compete with the likes of Amazon, with its Prime membership offering faster shipping rates along with lower prices, retailers may need to rethink their core offerings and to offer faster delivery.

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

Click to comment

TRENDING RIGHT NOW