Fast-Moving Consumer Goods– FMCG

As per the Fast Moving Consumer Goods meaning (also called as FMCG), these are referred to as products or items that are capable of selling quickly at a reduced price. In other words, the products are also referred to as consumer packaged goods. FMCGs are known to depict a shorter life due to the overall demand of the consumers (for example, confections and drinks). At the same time, this is also because these items tend to be highly perishable (for example, baked goods, dairy products, meat, and others).

The fast moving consumer goods tend to be purchased quite frequently while being consumed quickly. At the same time, these items are priced quite low while being sold in huge quantities. Also, these tend to feature a higher turnover when these are available on the store’s shelves.

An Insight into Fast Moving Consumer Goods

Consumer goods tend to be products that are purchased to be consumed by an average customer. The Range of consumer goods is further divided into sub-categories –durable goods, non-durable goods, and services. Durable items tend to have an overall shelf life of around 3 years or more. On the other hand, non-durable goods tend to have a shorter shelf life of not more than one year. FMCG items tend to form the largest segment of customer-centric goods. These are known to fall under the category of non-durable items as these have a shorter shelf life and need to be consumed quickly.

FMCG products are being utilized by the entire world’s population on a daily Basis. These feature a form of small-scale consumer buys or purchases made available at the supermarket, produce stands, warehouse outlet, and grocery stores. Some of the instances of such goods are milk, vegetables & fruits, bread, beer, soda, OTCs (Over the Counter) drugs like aspirin, and so more.

FMCG is known to account for around half of the entire consumer’s spending. However, these are represented as low-involvement purchases. Consumers tend to show off a durable item like a car or a smartphone in comparison to the FMCG items.

Types of Fast Moving Consumer Goods

Some of the common categories of fast moving consumer goods include:

• Processed food items like boxed pasta, cereal, cheese products
• Prepared meals or ready-to-eat items
• Baked items like bagels, croissants, cookies
• Beverages like bottled water, juices, energy drinks
• Medicines like pain relievers, aspirin, and others types of medication that are purchased without a prescription
• Dry, fresh, or frozen goods like frozen carrots & peas, froze, vegetables, fruits, nuts, and others
• Cleaning products like oven cleaner, baking soda, glass cleaner
• Office supplies like pens, markers, pencils
• Toiletries and cosmetics like skin care products, hair care products, and so more

As the Industry of fast moving consumer goods tend to feature a higher turnover rate, the Market not only appears larger, but also may be highly competitive at the same time.