What are Fast Moving Consumer Goods (FMCGs)?
Also known as Consumer Packaged Goods (CPG), FMCGs are the essential everyday items we buy each time we go shopping. They are items that are in high demand by consumers and are relatively low cost, e.g. food/cleaning products, toiletries, etc.; they are called FMCGs because they quickly leave supermarket shelves. The sector consists of very well-known international corporations, making it a highly desirable sector to be a part of, some examples include Coca-Cola, Heinz and L’Oreal.
10 Facts about the Fast Moving Consumer Goods Industry:
- It is one of the biggest industries in the world.
- FMCG is constantly evolving and changing as a sector. The products have a short shelf life, either as a result of high consumer demand (e.g. alcohol and toiletries) or because the product deteriorates rapidly (e.g. meat, fruits and vegetables).
- The core areas in any FMCG company are: Sales, Marketing, Research and Development, Information Services, Finance, Supply chain and Human Resources.
- All roles within FMCG companies are connected and one can explore various roles quite easily (helpful in one’s career decision-making)
- The subject of one’s degree isn’t the highest priority – FMCG is for everyone.
- Reputations can be built or lost overnight in this Industry. The brand needs to be more powerful than the product as purchases are based on Needs and not Emotions.
- Listening skills are very important; one does not always need to have the loudest voice to succeed in this sector.
- The world of FMCG is very competitive and online tests are used to short-list candidates.
- One might be asked very unique questions during assessment, such as;
- How many bottles of water are sold in the UK each day?
- There is an empty shelf in the supermarket. What could have caused this? How could you prevent this from happening again?
- SWOT analysis is often used at assessment centers so one should be aware of what it is.
- Strengths – characteristics of the business or project that give it an advantage over others.
- Weaknesses – characteristics that place the business or project at a disadvantage relative to others.
- Opportunities – elements that the project could exploit to its advantage.
- Threats – elements in the environment that could cause trouble for the business or project.