What are fast-moving consumer goods?
Fast Moving Consumer Goods (FMCG), short for Fast Moving Consumer Goods, refers to consumer goods with a short lifespan and a fast consumption rate. The easiest to understand fast-moving consumer goods include packaged food, personal hygiene products, tobacco, and alcohol and beverages. They are called fast-moving consumer goods because they are first and foremost daily necessities.
For example, the vertical and horizontal industries of fast-moving consumer goods:
First, the personal care products industry, which consists of oral care products, hair care products, personal cleaning products, cosmetics, paper towels, condoms, shoe care products and shaving products;
Second, the household care products industry, which consists of fabric cleaning products such as laundry soap and synthetic detergents, and household cleaning products such as dishware cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides, mosquito repellents and polishes;
3. Branded packaged food and beverage industry, which consists of health drinks, soft drinks, baked goods, chocolate, ice cream, coffee, processed meat, vegetable and fruit products, dairy products, bottled water, and branded rice, flour and sugar;
4. The tobacco and alcohol industry produces items that can be digested quickly.
What are the characteristics of fast-moving consumer goods?
①Short product turnover cycle;
② The access to the market is short and wide;
③ Market liveliness: set up outdoor billboards in high-end areas with large traffic to advertise product images, and conduct on-site demonstrations, promotions, discount sales and other activities in stores;
④ Generally, it is a sales organization in the form of a branch or agency system, with a warehouse set up in the area under the jurisdiction of the branch;
⑤The focus of after-sales service is mainly reflected in the rapid feedback and effective handling of customer complaints.
Compared with other types of consumer goods, the purchasing decisions and purchasing processes of fast-moving consumer goods are significantly different. Fast Moving Consumer Goods are impulse buys, where purchasing decisions are made on the spur of the moment, are insensitive to the advice of many people around, and depend on personal preferences, similar products do not need to be compared, and the appearance/packaging of the product, advertising promotions, price, point of sale, etc. play an important role in sales. Therefore, fast-moving consumer goods have three basic characteristics, namely:
① Convenience: Consumers can habitually purchase products nearby
② Visual products: Consumers are easily influenced by the atmosphere of the store when making purchases
③ Low brand loyalty: Consumers can easily switch between different brands of similar products
These characteristics determine consumers' purchasing habits for fast-moving consumer goods: simple, fast, impulsive and emotional.
This is the end of the introduction to fast-moving consumer goods in this issue. If you want to get more information about fast-moving consumer goods, please pay attention and we will continue to answer your questions~
