Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG), are the products that go off the shelves of supermarkets and shops quickly at a relatively low price. These products are high in demand, sold quickly, and extremely affordable. These products are called “Fast-Moving” as they’re taken off the shelves by the customers. Fmcg includes many things like Fmcg Electronic products, Processed foods, Beverages, Cosmetics, etc.
Below is a list of different kinds of FMCG products
- Processed Foods
- Dry Goods
- Over-the-counter medicine
- Consumer Electronics
FMCG Electronic Products
Although consumer electronics are made to last long, fast products such as charging cables and flash drives are considered to be FMCG electronic products.
Examples of FMCG electronic products
- OTG Drives
- Device Chargers
- Tube lights
- Memory Cards
- Hair Straighteners
Why do Companies sell FMCG electronic products?
Companies use these products to create a customer base and trust within the community. These FMCG electronic products help the companies to reach out to their customer base. These products are sold quickly at a low price and they help the companies in bringing their ideologies out to the public. Through these products, they can build trust within their customers.
These products are also easier to advertise and sell. Companies such as Sony and Dell sell their FMCG electronic products and provide customers with quality products to create a trustworthy relationship with them. This helps them in selling their flagship products. It’s a simple marketing strategy, start small, and build your way up.
Companies that sell FMCG Electronics
Sony is one of the most successful companies of the 21st century. With their hands in motion pictures, consumer electronics, and media as well, SONY has been unstoppable in the past two decades.
Although known for its more successful ventures, SONY is still in the FMCG business with its AA batteries, memory cards, and cables.
Syska entered the FMCG electronic products market recently in 2017 compared to other big-name players in the industry. The company entered the competition with personal items as well as a few electronic items such as hair trimmers and straighteners.
Syska is mostly known for its LED lights but they’ve entered the competition and it looks like they’re here to stay.
Why are FMCG products important?
- Cumulative Profits
FMCG products have a low-profit margin but these products are sold in huge quantities and on a regular basis. Therefore, these small profit margins add up and create a significant portion of the total profit for the company/retailer.
- Brand appeal
Most FMCG products are mostly sold by brands that are already recognized in their field. Customers already have a pre-existing emotional relationship with these brands and therefore, they’re more likely to buy these FMCG products as well. These products also help the brand name as the companies can express their ideologies through these low priced products.
Key points to take away from this:
- FMCG products are a significant part of a company’s annual profit margin
- Companies can reach out to a wider audience through these products