"Rising Normal": FMCG Knowing The Lessons Learned And Capturing The Opportunities Ahead
The economy continued to recover across Asia during the first part of 2021, with growth witnessed in many markets. And the Asia-Pacific FMCG Logistics Market is expected to grow at a CAGR of around 5.5% during the forecasted period. Changing lifestyles, rapidly evolving consumer habits, and ease of access are the key growth drivers in the FMCG industry.
The pandemic has truly changed consumer behavior that has eventually affected the FMCG industry. In the Philippines, people are adjusting their purchases of FMCG items to account for their increasingly “homebound lifestyle,” with 24 percent of consumers have switched pack sizes or bulk buying. To supply the demand of consumers, FMCG manufacturers in the Philippines have seen the need to adopt new business strategies to overcome supply chain disruptions.
Fast Moving Consumer Goods Companies are in the midst of a transformation, unlike any before in their history. And the development of consumer buying behavior is rapidly changing over the years. FMCG operations have been less of a focus for their digital efforts, but recently, companies have started to explore digital solutions in manufacturing processes. FMCG companies have begun to capture value by applying digital tools to their operations.
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