Monday, 27 March 2017

The world of FMCG

pitambari innovative products

The fast moving consumer goods (FMCG) also known as consumer packaged goods (CPG) are the products that have a quick turnover and relatively low cost, FMCG is the fourth largest sector in the Indian economy In India, the retailing concept arrived one decade ago. Within a very little time, it became a part of everybody's life. Now a day's we wish to purchase almost all of our daily use articles to valuable goods from a retail outlet. It provides us a huge range and independence in purchasing. Metros, as well as small cities, are also a better place for retail. There are a lot of companies involved in retailmarketing.

The FMCG sectors consist of personal care, household care, beverages, spirits, and tobacco. The Indian FMCG industry witnessed significant changes through 1990's. Many retailers had been facing severe problems on account of increased competition from small to regional retailers. By the turn of the 20th century, the face of Indian FMCG industry had changed significantly.With the liberalization and growth of the economy, the Indian customer witnessed an increasing exposure to new domestic and foreign products through different media, such as television and the Internet. Apart from this, social changes such as an increase in the number of nuclear families and the growing number of working couples resulting in increased spending power also contributed to the increase in the Indian consumer's Personal consumption. The realization of the customer's growing awareness and the need to meet changing requirements and preferences on account of changing lifestyles required the FMCG producing companies to formulate customer-centric strategies. These changes have a positive impact, leading to the rapid growth in the FMCG industry. Increased availability of retail space, rapid urbanization, and qualified manpower also boosted the growth of the organized retailing sector.

The FMCG sector being one of the biggest sectors of the Indian economy provides up to 4 million jobs.

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