Nearly every consumer journey now involves a digital component, whether during the search phase or the final transaction. As technology continues to advance, including the implementation of generative AI in retail, consumers' expectations for their online experience have also evolved. The way consumers behave online and what they expect from retailers are transforming as a result. In response, retailers are adapting to these changes by enhancing the online experience using generative AI solutions, AR/VR activities, social media engagement, and other innovative approaches.
Paris 2024 Olympics stand as one of the biggest global multi-sporting events, especially as it brings back the crowd after the pandemic. Paris’s significance as a centre of commerce and culture also positions 2024 Olympics as a more luxurious opportunity for brands. However, the event stands in a unique light given a period marked by accelerated digital adoption by businesses and consumers.
The development of embedded finance not only eases the customer journey throughout the retail funnel, which helps reduce purchase abandonment, but it also plays a critical role in driving digital transformation across channels.
Since the pandemic, China's vitamins and dietary supplements market has experienced robust growth, and sales through digital channels have been expanding continuously. The market size of consumer health products in China was USD57.1 billion in 2023, with an e-commerce penetration rate of 42%. In this evolving market, Douyin, as China's most popular short-video platform, has quickly risen to become a popular platform for purchasing health products.
Coupang, a major player in South Korea’s e-commerce, has shown exceptional growth in the country and aims to fulfil its aspiration for global penetration. While its attempt to explore overseas market face challenges, Coupang persists in strategic expansions including recent Farfetch acquisitions. Through the acquisition, Coupang is accelerating its transformation from a retailer primarily focused on household essentials to a more comprehensive platform that includes luxury items.
Amazon dominates in online sales of beauty and personal care in the US and is continuing to make gains in most categories. Amazon's success in beauty and personal care is due to its competitive pricing, product range, and logistics, but also to its savvy seasonal strategy, especially during the holiday season and its annual Prime Day promotion.
As global eyes turn again to China to monitor its current economic situation, understanding what is happening at the micro level can provide insights into how consumers are reacting to the current economic situation and how manufacturers and suppliers can best position their products to compete in this unprecedented environment.
Chocolate confectionery in India is rapidly growing and even more so online as consumers opt for online delivery amid increasingly hectic lifestyles. Examining leading brands' SKU pricing and promotional strategies provides insight into how brands are winning online in the dynamic category as well as how consumers are reacting to changes in the market.
Within fast-moving consumer goods (fmcg), the shift to e-commerce accelerated during the pandemic, and now the majority of fmcg categories have elevated levels of e-commerce sales. However, the rate and penetration of e-commerce sales differs by category and country, and prioritising where opportunities are most significant can help companies win online. Utilising Euromonitor’s new e-commerce system, we will use Australia as an example to show how wine is performing online, and who is winning from a retailing and brand perspective.