The FMCG industry of India is now making its presence felt in the ecommerce market. The FMCG products market is expected to increase at a CAGR of 14.9% to reach $ 220 billion by 2025.
The concept of ecommerce has gained popularity with players like Amazon, Flipkart, and Snapdeal. But with the entry of online platforms like BigBasket and Grofers, FMCG ecommerce has taken a big leap. Various new players jumping on the FMCG ecommerce bandwagon clearly indicate that changing buyer habits have made online selling a necessity for fast moving consumer goods segment.
Gone are the days when people would visit retail stores to purchase products. While shopping online has picked up big time, just creating a fancy website and vibrant colours does not guarantee the success of your online store. With bigwigs like BigBasket, Grofers etc entering the FMCG space, the competition is pretty tough and your business needs to be set up for success by offering a differentiating and better experience for your buyers.
To understand the market better let's first have a look at the top 5 fast consumer goods online marketplaces.
Table of Contents
Here is a list of the top 5 FMCG multi vendor marketplaces and what has been their mantra to success:
This company is one of the most popular online grocery markets in India. Launched in 2011, Big Basket offers a wide range of best-quality grocery, personal and household products at affordable prices. Since its inception, the company has grown massively and serves millions of customers across the country.
The Gurugram-based company was founded in the year 2013 and went over to raise around $10 million within the next 2 years. Grofers initially started as a B2B model and soon after realizing the growth potential of marketplace apps, it entered into the B2C online business.
JioMart is powered by Reliance Retail and Reliance Jio. The soft launch of this ecommerce venture has been announced by Reliance Industries in December 2019 and now it is launched in over 200 cities in India. The company delivers groceries and other household essentials to the doorstep of customers with an easy-to-use online platform.
This multi-vendor marketplace is one of the top grocery and food retail chains launched by Godrej. The company has a vision of redefining the freshest and finest food experience for customers. Nature’s basket has shown a tremendous growth trend over the years.
Amazon is one of the top brand names in the ecommerce industry. And with a highly strong customer base, the company has entered into the FMCG products segment with Amazon Pantry. The success of the company largely stemmed from its innovative technologies and business processes. Today, Amazon Pantry captures millions of online shoppers and is climbing up the ladder of success.
While it seems that consumer spending has been reduced in the lockdown scenario as people are not going out. The fact here is that consumers prefer to stay at home and use online platforms to purchase almost everything. Today, online buying is not limited to clothing, electronics, and books. In fact, the online shopping list includes consumer items like hair oil, shampoo, soap, grocery, packaged foods, and many other household items.
Have you ever wondered how the post-pandemic purchasing patterns will impact the future of FMCG multi-vendor marketplace? Let’s get some facts straight.
- $7 trillion is the expected market reach of the Indian ecommerce by 2023
- $ 2,158 billion is the expected market size of the global online grocery industry
- 40% online orders is accounted by grocery items
- 50% of the FMCG sales in India is accounted by household and personal care products
- 62% of the consumers shop online more frequently after the pandemic
- Over 60% of the consumers feel the need to improve the refund, replacement, delivery and overall online shopping experiences
Now that you know the future of online fast-moving consumer goods business, it is just about the right time to build your own FMCG multi vendor marketplace.
Wondering how to start selling FMCG products online? StoreHippo brings the step-wise guide along with the top 5 features to help you start your own online multi vendor marketplace.
Sell more FMCG products through m-commerce
Mobile commerce is not the next big thing but it is the thing of TODAY. By 2021, the mobile ecommerce sales of fast-moving consumer goods are expected to account for 54% of the total online sales. Don’t you want your store to be available where most of the consumers are? Well, it is not just enough if your website and online store work well on mobile devices. Mobile commerce is much more than this. The m-commerce capabilities of StoreHippo can help you get more orders, and improve customer engagements and conversions on your marketplace app. The cherry on top is that you can get your PWA store and mobile apps (Android/iOS) live without any additional cost.
Scalability to grow your FMCG store
This industry has a proven history of generating business growth and enjoyed undeniable success. To win in the coming decades, your online platform should also grow along with your store. These needs make scalability a very important feature for your multi vendor marketplace.
As you deal with a wide variety of products and brands, it becomes vital for the ecommerce platform to scale considering the unprecedented scenarios. Just like the StoreHippo ecommerce platform is built on the next-gen MEAN stack technology to offer an inherently scalable solution for fast-growing businesses.
Boost hyperlocal sales to grow your online business
Hyperlocal ecommerce is one of the most popular strategies in the online world because it provides a much-needed boost to the business. The time has gone when only popular online stores had the opportunity to grow online. In fact, people who search locally have more than 80% chances of visiting and buying from the store. And that’s a very high chance. Luckily, StoreHippo offers just the right tools to strategize hyperlocal marketing that focuses on reaching local and interested buyers.
Efficient targeted communication to promote right products at right time
Can you recall the last time you visited a supermarket? An executive walks around you to recommend the right products according to your needs, saving your time to enhance your shopping experience.
Well, you can offer the same while selling the FMCG products online. With the customer registration, you can obtain a lot of relevant information about customers. And the advanced marketing features of StoreHippo can let you mine the data to send personalized offers to the customers. For example, if you are looking for pulses, the related products like rice, flour will be displayed at the same time. With many such targeted communications and personalized marketing features, you can engage with the customers and make their online shopping experience memorable every time.
Quick vendor registration and streamlined payments
You will also have to register a lot of vendors on your multi vendor marketplace to be able to offer a vast catalog of products to your customers. Seems like a big task? But it is not when you have the right vendor registration and management features in place.
With the quick vendor registration process, StoreHippo can help you onboard as many vendors as you want in no time. In addition, the individual vendor dashboard is provided to all the vendors to let them check each and every thing about their business like orders, inventory, profits, deliveries etc. The adaptive payment feature is offered to keep the payments transparent between different vendors. So, you just have to simply onboard the vendors on your marketplace app and the rest will be taken care of by StoreHippo.
The FMCG ecommerce sector has gained huge popularity after big players like Amazon came into play. As the need for grocery, personal and household items is ongoing, so is the growth of this sector. The market is shifting more towards digitization augurs well for the growth of the FMCG multi vendor marketplace.
However, entering into this business requires a strong technology and platform to support your fast-moving consumer goods online store. If you already have amazing ideas in your mind for your existing store or want to set up a new successful online grocery store, StoreHippo has you covered for everything.
It provides you with the right technology to build your online FMCG site and marketplace app along with amazing hyperlocal marketing features. What’s even more interesting is that you do not need to take any additional plugin services, instead get all your online business needs covered under a single roof. Explore the features by yourself by scheduling your free trial store now.
With the increasing demand for same-day deliveries and faster shipments, FMCG bigwigs are pushing for hyperlocal ecommerce and customers have shown a huge liking for the business model. Building a hyperlocal marketplace for FMCG products comes with the following benefits:
- Less capital required
- Warehouse not required
- Lower logistics costs as delivery happens to nearby locations
- Quick and smooth delivery process
- More vendors equal more profits
With so many benefits and customers preference for fast deliveries, opting for a hyperlocal marketplace model can be good for businesses planning to grow quickly.
Quite easy. With StoreHippo you can quickly start your hyperlocal FMCG products multi vendor marketplace by onboarding local vendors as your sellers. You will not have to invest in setting up dark stores for different locations and local sellers with their experience of delivering locally will ensure streamlined delivery of orders. The StoreHippo ecommerce solutions offer powerful features like end-to-end vendor management, a built-in discount engine, adaptive payments etc to help brands run and manage their business seamlessly.
You can create multiple locations based stores with StoreHippo. You can also set up individual sub-stores for all your unique vendors. StoreHippo also enables you to filter and display location-based availability of products and services to your customers.
You can easily offer personalizations on your FMCG products multi vendor marketplace with StoreHippo’s decoupled headless architecture. With the headless solutions you can implement extreme personalization like building personalized landing pages, user-group-based pricing, multilingual content, user group-based payment solutions and more.
The product management solutions from StoreHippo makes it easy to manage the huge FMCG products catalouge on your marketplace. You can manage, add, edit, delete, import , export all your products in a few simple clicks.
Yes, you will be able to create your marketplace app easily. With StoreHippo’s in-built apps builder, you can seamlessly create hyperlocal FMCG marketplace app. You do not need to incur any additional costs or go with extensive codings.
StoreHippo offers a host of marketing tools to help you market your business well. You can boost your conversions with quick and smart marketing tools like powerful discount engines, coupon codes, personalized notifications, abandoned cart recovery, SEO tools etc.
Yes, you can seamlessly get multiple payment integrations on your FMCG products marketplace. StoreHippo offers 60+ domestic and international payment gateways along with other payment solutions like COD, Digital wallet, net banking, debit and credit cards etc.
You can easily target your FMCG customers on multiple platforms with the next-gen omnichannel solutions from StoreHippo. You can quickly create multiple customer touchpoints using the same backend logic and APIs.
Yes, you can offer faceted search to your customers on the multi vendor marketplace with StoreHippo. You can offer flexible filtering, create multiple groups based on the search criteria etc to offer seamless search.
With StoreHippo’s comprehensive locations-based multi-store ecommerce solutions, you can seamlessly build location-based marketplace storefronts for your FMCG marketplace. You can create multiple sub-stores based on your customer’s geological locations and cater to the needs of your customer groups.
Yes, you can run location-based offers, promotions, discounts, etc for targeted customers from various locations. You can plan various smarketing campaigns to get better ROI from hyperlocal ecommerce.