Browsing the web is the new market
Technology is driving innovation, making every sector grow at an exponential level, including food & beverage. Online grocery shopping skyrocketed during the pandemic, but now, everything going back to normal, and people are continuing to purchase online, keeping the trend still alive.
Through E-Commerce, social media, smartphone innovations, and robots, the online-retail industry is shifting, improving delivery and, with it, improving customer service.
There is a thriving market for delivery apps that focus on selling CPGs directly. New emerging companies such as Spanish startup Getir, has their own marketplace with almost every product the customer may need. Thanks to technology, the need for a physical consumer-facing market it’s not necessary anymore. Only with a mobile app, people can have pictures, nutritional value, and price of any CPG they wish to have on their shopping list. In this matter, Mentta is another example of an online marketplace delivering CPG , even including ready-to-eat meals. Their business model is similar to Getir’s, but with a more sustainable and healthy approach. Also, the unicorn Spanish company Glovo, part of their marketplace is dedicated to the delivery of CPGs. This new way of getting your groceries done saves the customer energy and time.
With this digitalized way of purchasing CPGs, companies have brought new products to the market 50% faster, ⅓ cheaper, and doubled their ROI (return on investment). It is worth highlighting the role social media has in this trend, being the principal way that the brand gets to the customer.
Reducing food waste with technology is another route that this industry is taking. As an example, Too Good To Go acts as an intermediary between stores, restaurants, and supermarkets, preventing large amounts of food waste by selling goods before they are discarded or perishable for less than half their cost to consumers seeking cheaper alternatives.
To conclude, the whole food and beverages industry has been going through a phase of change to endure the sustainability challenge. There is no planet b, therefore companies, multinationals, startups, and consumers are taking awareness and accountability for their consumption and actions. Consumer packaged goods are no exception on this path. As mentioned, lately, they are focusing on sustainability by creating eco-friendly packages, plant-based alternatives to reduce meat consumption, and plant-based ready-to-eat meal options, being better for you and the planet.
Technology continues to go beyond its limits, and social media, delivery apps, and e-commerce are helping to cope with this challenge. Spain is an important player and has successfully been able to keep up with implementing sustainability through innovation.