**FMCG Giants Innovate for Quick Commerce Platforms**
Large fast-moving consumer goods (FMCG) companies, including Marico, Zydus Wellness, and Godrej Consumer Products, are adapting their product lines for quick-commerce platforms. This includes launching new variants and premium offerings tailored to the preferences of urban online shoppers. For example, Marico plans to introduce gourmet variants of its oats specifically for quick commerce, as the company seeks to customize its offerings across all brands.
Godrej Consumer Products Ltd (GCPL) is exploring the simultaneous launch of products on both online and offline channels, with online sales showing promising traction. Zydus Wellness, known for its butter and health drinks, is exclusively selling its plant-based Nutralite butter on quick commerce platforms, with more products in the pipeline. Meanwhile, Baskin Robbins is introducing unique ice cream flavors and combinations that are not available in physical stores.
This strategic shift comes as quick commerce gains popularity, despite currently accounting for only 2-7% of overall sales for larger FMCG companies. According to Nielsen IQ, e-commerce represented a 13% value share in the top eight metros for the year ending March 31, driven by increased online shopper penetration and larger basket sizes.
Anand Ramanathan from Deloitte highlights that the growth of quick commerce will lead to a broader product portfolio, as FMCG companies traditionally operated with limited assortments. He notes that companies will need to experiment with various products across different platforms, which adds complexity to their operations. Frequent product launches will become essential as companies adapt to this evolving landscape.
In a recent interview, Saugata Gupta, CEO of Marico, emphasized the importance of designing a channel-specific portfolio. He noted that the quick-commerce shopper differs from those on traditional online marketplaces, necessitating a tailored approach to product offerings. Gupta also mentioned that e-commerce serves as an effective channel for testing new products, with potential premiumization of core offerings driven through these platforms. Currently, quick commerce constitutes 3% of Marico’s business in India.
As FMCG companies continue to innovate and adapt to the quick commerce trend, the landscape of consumer goods is set to evolve significantly, catering to the changing preferences of modern shoppers.
**FAQ**
**What is quick commerce in the FMCG sector?**
Quick commerce refers to the rapid delivery of consumer goods, typically within a few hours, through online platforms. It allows consumers to order products conveniently and receive them quickly, catering to the growing demand for instant gratification in shopping.
