 "FMCG")
Fast-moving consumer goods (FMCG) giants such as Nestle, ITC, Parle Products, LT Foods, and Coca-Cola are proactively adopting real-time data exchange and demand forecasting strategies to prevent stock-outs on quick-commerce platforms, according to a report in The Economic Times (ET). With quick commerce (Q-comm) emerging as the fastest-growing channel for these companies, they are working on forecasting demand based on sales trends to ensure swift stock replenishment within hours at platforms like Blinkit, Swiggy Instamart, BBNow, and Zepto.
Real-time stock replenishment in the Q-comm space is crucial to both consumers and business owners, and tech can be used in forecast demands based on sales trends. This in turn helps Q-comm platforms turn around stocks rapidly at dark stores.
Quick-commerce platforms, promising delivery within 10-20 minutes, contribute significantly to FMCG companies' e-commerce sales, ranging from 30-50 per cent, adds the ET report. The rapid delivery aspect has attracted FMCG companies to prioritise e-commerce as a major sales channel, with its size doubling in the past two years to 5-10 per cent of overall sales.
Companies like ITC are also reportedly exploring real-time data exchange through electronic data interchange, having integrated with major quick-commerce accounts for faster and digitised data exchange. Nestle India is also partnering with quick-commerce platforms to monitor inventory at distribution points.
Quick commerce gained momentum during the Covid-19 pandemic, driven by state lockdowns that pushed consumers to shop online for daily essentials. The convenience of rapid delivery attracted consumers, not only for impulse buys, but also bulk packs, making quick commerce a significant channel for FMCG companies.
