What are consumer packaged goods (CPG) or Fast-Moving Consumer Goods (FMCG) ?
What are examples of fast-moving consumer goods?
Fast-moving goods are found in almost all sales categories and industries. Some examples include:
What are fast-moving consumer goods?
Fast-moving consumer goods (FMCGs) are affordable products that sell quickly. These goods, also referred to as consumer packaged goods, are necessary household necessities that people frequently and repeatedly purchase from supermarkets, convenience stores, warehouse clubs, and other retail establishments.
Fast-moving consumer goods are easily distinguished by price and whether they are affordable vs. expensive. A box of muffins, for example, costs a few dollars, which is considerably less than the price of purchasing a kitchen mixer to make your own baked goods, as an example. Additionally, compared to more expensive or specialty items, FMCGs have a higher inventory turnover rate.
Overall, consumer goods typically fit into these three categories:
You frequently purchase FMCGs, such as toilet paper, on a regular basis. While some consumers purchase toilet paper on a weekly basis, others may do so in bulk, and this practice is ongoing.
How do fast-moving consumer goods work?
Fast-moving consumer goods are products that are:
In order to increase sales of FMCG products in the highly competitive and large market, businesses frequently focus on seasonal and holiday sales, discounts, and promotions. Even though businesses typically have low profit margins on these goods, they consistently generate sales revenue because of the products’ high volume of sales.
By taking into account both the buyer and seller perspectives, you can learn more about how fast-moving consumer goods operate.
As a consumer and buyer, FMCGs are:
As a seller or marketer, FMCGs are:
9 jobs in fast-moving consumer goods
With the wide range of products available, working for a fast-moving consumer goods company can be a rewarding career path. The industry also offers a variety of roles and positions from which to choose. Here are nine quick-moving consumer goods jobs to think about:
A purchasing assistant’s main responsibilities are to manage the day-to-day administrative aspects of buyers’ and managers’ purchasing tasks. They complete paperwork for orders, purchases, supplies, bids and contracts. In addition, purchasing assistants interact with suppliers, track shipments, check deliveries for accuracy, and review draft contracts.
A sales associate’s main responsibilities include assisting customers in selecting the appropriate goods or services, frequently in retail establishments. They are informed about the products offered by their company, including how to use them and where they can be found. Sales representatives interact with customers and provide a positive experience to encourage repeat business. They might also be in charge of handling customer payments, stocking shelves, making store displays, and working in fitting rooms, depending on where they work.
A buyer’s main responsibilities include conducting market research, evaluating products, and making purchases on behalf of merchants. They frequently carry out market research to determine consumer demand, set an item’s selling price, and carry out competitor analysis. Buyers collaborate with other business experts to keep an eye on sales, products, and reports.
An inventory manager’s main responsibilities are to maintain and track a company’s goods, materials, and supplies. They make sure that a company’s goals, targets, cost-saving strategies, and sales revenue projections are met by proper stocking levels and distribution plans. They typically oversee a group of warehouse clerks and collaborate with other department heads.
A logistics manager’s main responsibilities include overseeing a company’s supply chain and keeping an eye on purchases and products before other employees advertise or sell them. When working with business-to-business (B2B) firms, they forge strong bonds with suppliers and customers. For instance, they might sell wood to builders and home improvement retailers or fabric to a clothing manufacturer.
A marketing manager’s main responsibilities include serving as a conduit between a business and its clients and deciding how and where to market sales, advertise, and promote goods. They collaborate with internal teams to create graphics, messaging, and cogent content that can be published on websites, social media platforms, billboards, posters, and radio and television commercials.
A business’s production of goods and services is overseen by an operations manager in all of its components, including the operations process, design, planning, manufacturing, staffing, performance improvement, and operational strategy. They hire staff and make sure they adhere to all rules and regulations, prioritizing safety. Operations managers approve pricing and contracts, set cost margins for products being sold, and work with purchasing and manufacturing budgets.
A sales manager’s main responsibilities include expanding a company’s clientele, sales, and revenue. In order to increase a company’s customer base, they design strategic sales plans, recruit and train sales representatives, support product fulfillment and ordering, track sales metrics, or a competitor’s performance.
A procurement analyst’s main responsibilities include reviewing sales and cost data to interpret an organization’s expenses and identify areas for cost savings. Based on pricing, they choose which wholesalers or manufacturers to work with, and they keep an eye on quality control, costs, manufacturing production rates, and delivery schedules.