What Is Full Form Of FMCG | Full Form Of FMCG | FMCG Full Form:- FMCG Means Fast-Moving Consumer Goods which are also known as consumer packed goods (CPD). FMCG goods refer to the products that are sold quickly and generally non-durable. FMCG is also known as Consumer Packaged Goods (CPG). Some examples of FMCG products are soft drinks, processed foods, cosmetics like lip balm, eyeliner, deodorants, soaps, general using products like toilet paper, face towel, shower cap, toilet soaps, and the over-the-counter drugs etc.
FMCG products have a Small life and generally replaced or sold over a short period usually within a few days, few weeks, and a few months. Although the profit margin in FMCG products is comparatively low but they generally sold in the large amount thus, the cumulative profit is good. The success of FMCG products largely depends on the brand, marketing, distribution network and an understanding of consumer behavior.
The FMCG industry is the 4th largest sector in the Indian economy and its size is estimated to grow from US$ 30 billion in 2011 to US$ 75 billion in 2018. FMCG industry generates 5% of the total factory employment in India. The growing awareness, easy access to products, and changing lifestyles are considered the major factors for the growth of the FMCG sector.
Indian Top FMCG companies:
Many FMCG products have a short shelf life, either as a result of high consumer demand or as the result of fast deterioration. Some FMCG, such as meats, fruits, dairy products, vegetables, and baked goods are highly perishable. Other goods, such as pre-packaged foods, candies, soft drinks, and toiletries have high turnover rates.
Packaging is critical for FMCG products. To become successful in the highly dynamic and innovative FMCG sector, an FMCG company not only has to be acquainted with the consumer, brands, and logistics but also, it has to have a sound understanding of packaging and product advertising. The packaging of FMCG products has to be both hygienic and customers-attracting.
The profit margin on FMCG products can be relatively small, but they are generally sold in large quantity; thus, the cumulative profit on such products can be substantial. According to BASES, 84% of professionals working for FMCGs are under more pressure to quickly bring new products to the market than they were five or ten years ago. With this in mind, 47% of those surveyed confessed that FMCG product testing suffers most when deadlines are accelerated. Most of the FMCG products are not ordered through online, rather, they are bought conveniently in a nearby department store.
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