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Food and Beverages
Business Fortune
29 October, 2024
Presented at a FICCI event, the study found that 16 percent of consumers prefer to purchase food and beverages through rapid commerce, while 14 percent prefer e-commerce.
According to a recent Deloitte survey, urban consumers choose rapid commerce over traditional e-commerce when purchasing food and beverages. 16 percent of customers prefer to buy food and beverages through rapid commerce, compared to 14 percent who choose e-commerce, according to the research, which was presented at a FICCI event.
According to the research, fast commerce accounted for almost 35% of FMCG businesses' online revenues in FY24. Vice Chairman and MD of Emami, Harsha V. Agarwal, was also in attendance at the event. He stated that the firm anticipates a 4–5X increase in sales through fast commerce over the next two years because of the ease and flexibility that quick commerce provides to consumers.
The poll, which highlighted channel preferences by household size, found that there is a discernible rise in the need for rapid commerce as household sizes decrease. Smaller households with two working members are likely to value the convenience and speed of fast commerce, which satisfies more immediate and flexible consumption demands, according to research. Generally speaking, however, larger households prefer general trading.
The survey also revealed that customers are seeking more goods with limited and identifiable components, indicating a significant change in consumer behavior. According to the report, 78% of buyers are prepared to shell out more money for nutritious food and drink items. Comparably, 49% of consumers in the beauty market are willing to spend more for non-toxic and pet-safe goods.