Fast Moving Consumer Goods (FMCG) is a type of Consumer Goods that is consuming faster or has a small shelf-life. But what is Consumer Goods? Glad you asked that! To understand what is Fast Moving Consumer Goods we need to come back to some steps and understand the main details about those segments.
Consumer Goods are goods or services offered in the market, they are divided into three categories: Durable goods (Shelf-life of three years or more), Nondurable goods (Shelf-life less than three years)- FMCG is in that group, being the largest segment -, and Services. In short, everything that we consume is a Consumer Good, from the coffee we bought at the supermarket to the photographer we paid at the wedding. In this blog, we are going to keep our attention on just one of those segments: Fast Moving Consumer Goods. Come with us!
Fast Moving Consumer Goods
Every day in the whole world, almost everyone consumes Fast Moving Consumer Goods. As we said before, they’re understood as non-durable products because they have high demand or just because they’re perishable, because of the small shelf-life. Also known as Consumer-Packaged Goods, those products can be divided into nine categories, each one with its own specifications:
- Processed Food
This kind of food is sold as ready-to-eat food, for example, chips, cereal, instant noodles, and others.
- Prepared Meals
Small procedures are necessary to prepare these types of foods, like heating them or using some utensils to prepare them and start eating. Pizza, popcorn, and hot soup can be some examples of them.
- Beverages
As you can identify by the name, this type of food encompasses juice, tea, water, coffee, energy drink, and others.
- Baked Goods
Bread, cakes, muffins, cookies, cinnamon rolls can be examples of this type of food. Usually, those types of food are baked and are ready-to-eat.
- Fresh, Frozen, and dried Food
Here we talk about fruit, vegetable, pasta, wheat flour, and others. Those can be the most profitable segment for your company. Usually, those products are purchased by everyone every single month.
- Medicine (when a prescription isn’t required)
We can list aspirin and some pain relievers, but it’s important to say that it only encompasses a segment of medicine that doesn’t need a prescription to be sold.
- Cleaning products
In this segment, we have products that are used to keep the house clean. For example, it’s possible to mention disinfectants, glass cleaners, polishes, and others.
- Cosmetics, Toiletries
Soap, shampoo, conditioner, all hair care products, toothpaste, can be examples of this type of Fast-Moving Consumer Goods.
- Office supplies
This is the most different type of Fast-Moving Consumer Good among others. It’s possible to list pens, envelopes, folders, and others as examples of that. But it’s important to say that those kinds of goods are encompassed in this segment because of the high turnover on the market.
Fast Moving Consumer Goods on the Market
Fast-Moving Consumer Goods are the largest segment in Consumer Goods. Many products in this segment are essential for the maintenance of life, like groceries and water. Once we said that, it’s possible to assure that Fast-Moving Consumer Goods are sold quickly and have a high turnover once in the supermarket.
If you’re a company that desires to work in this segment, it’s important to say that this kind of product, even at a low price for the end-user, has a high consumption index and is sold in large quantities, primarily if you desire to deal with large conglomerates.
It’s also important to say that Fast-Moving Consumer Goods have a low growth rate in the market and there’s a lot of competition in this segment. But if you work well with your marketing team, this area can be a safe bet with mensurable margins and stable profits.
Do you desire to know more about that and would like to know more about the paperwork? Probably you’ll enjoy the blog “DON’T FORGET These 5 Things When Importing FMCG”. This blog will help you with the first steps to import Fast-Moving Consumer Goods.
Boom Plus in all of that?
We’re a company that works with Fast-Moving Consumer Goods, we offer products such as Pasta and Wheat flour. Proudly, we have the honor to say that we manufacture our products and follow all the standards demanded by the regulatory bodies. Meeting demands from countries around the world, we offer products of high quality and with the capacity to meet the needs of the market that you are in.
If you’re looking for a company to start your business in this segment, we work hard to offer the best deal for your business. Talk with our sales team and ask for more information. As always, it’s going to be a pleasure to meet your needs.
- September 14, 2021
- 10:32 am
- 3 Comments
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