Digital technology can push $20 bn sales opportunity: Report

Enhancement of technologies is creating opportunities of incremental revenue for companies and by leveraging digital technology like Internet, mobile, tablets and apps can get sales opportunities worth $20 billion, a report has said.

 

"Disrupting established brand behaviours by leveraging digital more often, using promotions and providing consumers with good experience can provide a $20 billion sales opportunity," says the report by said market insights and information provider Nielsen.

 

According to Nielsen, purchases done by Indian consumers are more influenced by factors in its direct control.

 

"In the FMCG space alone, 80% of shoppers will buy a different item than originally planned. Today's shoppers are empowered by choice and refine their decisions based on marketplace disruptions,"said Nielsen India Executive Director Adrian Terron.

 

The report further said that in the analysis it was found that more than half of the shoppers of the five segments had accessed Internet as part pf their pre-purchase, decision making process.

 

The sector are -- FMCG, movie, travel, auto and loans.

 

Terron further added that still the share of the e-tailing in the retain sector is very low and at nascent stage but "its opportunity is high and the gender gap is closing".

 

 The reports further said that using promotions can also influence a sale of $10 billion.

 

The survey has found that for FMCG products, promotions influenced 34% of shoppers to make a bigger purchase than planned.

 

Providing consumers with a good experience can turn plans into purchases, it further added.

 

"A good deal can prompt consumers to buy more, buy earlier and buy different than otherwise intended," said Terron.

 

However, he added that the promotions need to be used tactically and strategically to cause disruption.