You must have come across this article looking for the FMCG Full Form? Luckily, you have landed in the right place. FMCG (Fast Moving Consumer Goods) is related to the products in the market that sold separately, quickly, and at such a reasonable price. These foods are generally not long-lasting and are often considered as Packaged Goods for Consumers (CPG).
You must be wondering about the thing or products that come under Fast Moving Consumer Goods (FMCG). Some of the perfect examples of packaged foods are meat, vegetables, dairy products, fruits, processed foods, soft drinks, cosmetics such as soaps, deodorants, lip balm, eyeliner. You can also include everyday using products in the list.
However, this article is all about explaining FMCG (Fast Moving Consumer Goods). Let’s dig deeper into this topic.
FMCG Full Form
You must be wondering that we have shared the complete full form of FMCG in the introduction. Still, FMCG stands for Fast Moving Consumer Goods. FMCG (Fast Moving Consumer Goods) is related to the products in the market that sold at a reasonable price.
We mentioned earlier, these foods are not long-lasting and can expire after a specific time. For instance, these can be regarded as CPG (Packaged Goods for Consumers).
What are Fast Moving Consumer Goods (FMCG)?
These are the products that sell quickly and separately at such a low price. You can also call them consumer packaged foods. FMCG (Fast Moving Consumer Goods) are having a short shelf life due to its higher demands in the market and within consumers. For example, soft drinks, confections, meat, dairy, and other packaged foods.
Such goods are purchased frequently by the consumers and consumed rapidly on the daily basis. So, there is nothing to be worried about the shelf life. It often gets purchased for quick use only. This is the only reason FMCG is priced low and sold in a very huge quantity in the market.
Such goods are having a higher turnover rate than any other industry. It is because Fast Moving consumer goods become the necessity of people.
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Properties of FMCG products
We have mentioned earlier. FMCG stands for Fast Moving Consumer Goods. For instance, the life span of such products is very short. The products often get sold, replaced after the specific time in the store. The sales profitability is weak compared to other sectors due to the short life span. Still, the net profit of this industry is comparatively higher than any other foods. It is because the goods are sold in a large quantity.
The digitalization of the world and the uses of the internet often increased the demand for Fast Moving Consumer Goods. FMCG generally relies on brand value as the consumers always want to go for perfect packaging and foods.
For a quick view, we have described the characteristics below.
Marketing Expert View Point –
- Inventory Sales Soaring.
- Small net margin for profit and contribution.
- Huge Volumes.
- Distributed Widely.
Consumer View Point –
- Regular Investing.
- Comparatively low costs.
- No action is needed to select one item.
- Short life span.
- Quick use.
- Comparison of prices during online purchases.
Top FMCG Companies
FMCG (Fast Moving Consumer Goods) is the fourth leading industry in the Indian Market. The estimated growing size is 75$ Billion in 2018. This field itself generates 5 percent of the total of India’s factory jobs. However, some of the top FMCG companies are:
- Nirma
- Bikanervala
- Marico
- CavinKare
- Colgate Palmolive India Ltd.
- Dabur India Ltd.
- Amul
- Hindustan Unilever
- Pidilite Industries
- Emami
- Parle Agro
- Colgate Palmolive India Ltd.
- Haldiram’s
- Bikanervala
- Britannia, etc.
Understanding Fast-Moving Consumer Goods (FMCG)
Let’s dig more into this section. Till now, we have a clear indication about the Fast Moving Consumer Goods (FMCG). We have learned the proper definition of FMCG. Let’s now understand how does it work.
For instance, consumer goods are the products that are often gets purchased by the customer for consumption. There are generally three different categories.
- Durable
- Non-Durable
- Services.
Durable – 1
Durable goods are those which are having a long-lasting shelf life of more than three years. It can be packaged or non-packaged goods. For instance, furniture, electronic supplies are the ones that come in the durable goods.
Non-Durable – 2
Non-Durable goods are those which are having a short shelf life of less than one year. It can be packaged or non-packaged goods. For instance, Fast Moving Consumer Goods are the largest segment of non-durable goods. To be precise, everyone in this world consumes FMCG (Fast Moving Consumer Goods) every day.
Services – 3
Services do not come under the goods. However, this affects the sales. It is because if the after-sale service of any durable good is not good then it will drastically affect the total sales of the particular product.
Frequently Asked Questions
Some questions have been repeatedly asked to us related to FMCG (Fast Moving Consumer Goods). So, we have added all the related answers here. Let’s have a look.
What are Fast Moving Consumer Goods?
These are the products that sell quickly and separately at such a low price. FMCG (Fast Moving Consumer Goods) are having a short shelf life due to its higher demands in the market and within consumers.
FMCG Full Form? What does it mean?
FMCG stands for Fast Moving Consumer Goods. Such foods are not long-lasting and can expire after a specific time.
What are the top FMCG companies?
There are many top FMCG companies. For instance, we have added the list of companies that are currently working in India.
- Nirma
- Bikanervala
- Marico
- CavinKare
- Colgate Palmolive India Ltd.
- Dabur India Ltd.
- Amul
Conclusion
Here we come to the end. FMCG (Fast Moving Consumer Goods) are those with higher turnover rates and often get sold in the market at such a low price. Such goods are having less or short life span due to their high demand in the consumers and market.
However, this article is all about FMCG Full Form. Here we have added a complete piece of information that one needs to know about FMCG. We hope this article helps. If there is anything else to ask? Do not hesitate to ask us in the comments section.
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