Consumer goods are tangible final goods which are produced or manufactured for consumption by individuals in the mass market. Fast moving consumer good (FMCG), also called repeat-purchase packaged good, refers to non-durable goods required for daily or frequent use by the consumers.
FMCGs are essential goods manufactured, distributed and marketed with a relatively lower price, and are sold with a quick turnover rate. Examples of these good are, but not limited to, the following:
- toiletries
- soap
- cosmetics
- tooth cleaning products
- plastic goods
- pharmaceuticals
- consumer electronics
- packaged food products
- soft drinks
Generally, several factors affect the frequency and the type of good that a consumer purchases. These may include the following scenarios:
- Income variability – Low-income household tend to buy certain products more frequently as a consequence to lack of liquidity and storage space in comparison to high-income household that can afford to buy the same product, in large volumes or in bulks, more infrequently.
- Cultural difference – In western countries, the practice of buying and stocking foods for relatively longer period of time is more prevalent in sharp contrast with other countries which prefer fresh food articles, hence purchasing at small quantities more frequently.
Nonetheless, FMCGs are extremely important since these are primarily essential products which make the dominant part of the consumer’s demand. To cater to these demands, there is a need for constant supply in the market.
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References:
- Rachana, K. (2016). A Study on the role of advertisement in marketing FMCG products in West Bengal. Shodhganga. Retrieved from: http://hdl.handle.net/10603/163794
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