Abbreviation for Fast Moving Consumer Goods
The abbreviation (Fast Moving Consumer Goods) refers to consumer products (CP), or major retail products. These are products regularly purchased in large retail stores, showing relatively short expiry dates.
(or CP) generate high rotation rates for distributors: given the pace at which purchases are renewed, they are high in demand from consumers as they tend to deteriorate very quickly (their purpose being to satisfy a primary need).
The price is another criterion on which /CP stand out from other products (the displayed price is rather low).
Generally speaking, /CP are differentiated from durable goods (dish-washer, camera, vehicle), semi-durable goods (household devices, shoes, clothes) and services.
The main features displayed by /CP for consumers are as follows:
Frequent purchasing;
Low price;
Quick consumption;
Short lifespan.
Consumer products (CP) encompass the following categories:
Food products (dairy, fruit and vegetables, grocery produce);
Bottled drinks;
Cleaning products (detergents);
Cosmetics and care products;
Toiletry products and accessories;
Pharmaceuticals;
Electric batteries;
Light bulbs.
Electronic products are generally generic products offering similar functionalities to products of a higher category: earphones, disposable cameras, MP3 players, mobiles phones, etc.
Packaging/packing is a decisive factor when marketing consumer products. Product appearance must be sufficiently attractive to draw consumers in and influence sales.
Packaging designs consider lots of different elements:
The consumer;
Brand history;
Purely logistic requirements (safety, preservation).
Packing is designed to protect the product from any deterioration caused by external factors during transport:
Handling
Transport
Packaging refers to the product’s immediate wrapping. It is in direct contact with the consumer product (/CP). Its purpose is to:
Protect the product’s content, to guarantee quality or freshness (humidity, light);
Protect the consumer from potential chemical contamination risks;
Allow easier use following purchase.
Packaging is a word referring to how products are presented in store aisles, and to their outer envelope. Efficient packaging helps improve sales in supermarkets, and draw consumers in.
Generally speaking, a consumer product’s packaging must meet hygiene and safety rules, whilst remaining attractive. It helps guarantee high-quality preservation and protection, whilst providing essential information to consumers.
High production volumes
Low margins for distributors
High stock rotation
Large distribution network
The benefits resulting from the sale of are fairly low. Nonetheless, relatively high benefits can be achieved given the large volumes sold.
According to a Nielsen Growth Reporter study, the budget dedicated by Europeans to standard consumer products increased by 2.4% in the first quarter of 2019.
Of the 5 top-ranking markets, Spain reached the highest increase, with 3.6%. It was closely followed by France (+2.1%) and the United Kingdom (+1%).