FMCG Spending on Analytics: Introduction

  • Fast moving consumer goods (FMCG) use analytics solutions to understand pricing insights, customer insights, sales insights, marketing insights, supply chain insights, and the options of driving maximum revenue and profitability through all channels.
  • Analytics solutions generate customer insights on the basis of their purchasing behavior. Implementation of FMCG spending on analytics provides various benefits to the FMCG sector such as decreased markdowns, increase in sales margin, and aids inventory management. It also simplifies workflows, makes daily communication easier, improves business processes, increases contact center interaction, reduces communication complexity, and improves work tasks in any organization.
  • The global FMCG spending on analytics market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies across the globe.
fmcg spending on analytics market

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Global FMCG Spending on Analytics Market: Dynamics

Global FMCG Spending on Analytics Market: Key Drivers

  • Rising consumer shift toward customized and personalized products is expected to propel the FMCG spending on analytics market during the forecast period.
  • Increasing demand to make the FMCG industry smarter along with automation of collaborative business workflows and procedures is estimated to boost the growth of the FMCG spending on analytics market during the forecast period.
  • Rise in demand to enhance customer experience and increase the sales margin along with the need to modify promotion strategies are some of the major factors likely to accelerate FMCG spending on analytics in the next few years.
  • Rising demand for better interaction and communication with the physical environment to accomplish a broad range of activities in a more informed and efficient manner across the globe is estimated to boost the growth of the FMCG spending on analytics market during the forecast period.
  • Rise in need to minimize risk exposure and fraud, enhance loyalty, reduce operational costs, address compliance issues, and maximize revenue growth is also expected to propel the FMCG spending on analytics market during the forecast period.
  • Increasing adoption of smart technologies and distributed applications by consumers is anticipated to boost the FMCG spending on analytics market.
  • However, rising number of e-retailers across the globe is anticipated to hamper the FMCG spending on analytics market during the forecast period.
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Impact of COVID-19 on the Global FMCG Spending on Analytics Market

  • Increase in cases of COVID-19 across the globe is resulting in economic slowdown and adversely impacting the global FMCG spending on analytics market. Developed countries are strongly affected by this pandemic. Most of the manufacturing or production of goods is temporarily suspended globally. Businesses have been adversely impacted in different countries due to partial or full lock down. This, in turn, is projected to indirectly hinder the global FMCG spending on analytics market in the next few years.

North America to Hold Major Share of the Global FMCG Spending on Analytics Market

  • In terms of region, the global FMCG spending on analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global FMCG spending on analytics market in 2019. The U.S. is the key market in the region due to increasing adoption of smart technologies and rapid implementation of analytics solutions by FMCG.
  • The FMCG spending on analytics market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing adoption of digital technologies in the region.
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Global FMCG Spending on Analytics Market: Competition Landscape

Several local, regional, and global players are active in the FMCG spending on analytics market with a strong presence. Rapid technological advancements have created significant opportunities in the global FMCG spending on analytics market.

Key Players Operating in the Global FMCG Spending on Analytics Market Include:

  • Accenture plc
  • Sysware Group
  • Phygital Insights
  • Tableau Software
  • Wipro Limited
  • IBM Corporation
  • Cognizant Corporation

Global FMCG Spending on Analytics Market: Research Scope

Global FMCG Spending on Analytics Market, by Component

  • Software
  • Services

Global FMCG Spending on Analytics Market, by Enterprise Size

  • Small & Medium Enterprises
  • Large Enterprises

Global FMCG Spending on Analytics Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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