posted by admin on Apr 16
There are a lot of products sold in the market and majority of them are under the category FMCG which means Fast Moving Consumer Goods. FMCGs are also referred to as Consumer Packaged Goods or CPGs. These products sell the fastest but with only small profit.
What makes FMCGs stay in business despite the small profit is the large volume of demand for them. So the small profit multiplied by the large volume generates a cumulative profit that is large. Products belonging to the FMCG category share the characteristics of being used at least once a month, sold in package form, used directly by the end consumer, non-durable and carry a brand.
The FMCG is a very broad sector that can be further divided into personal care, household care, packaged food and beverages, and spirits and tobacco. It is noticeable that this sector caters to the basic needs of each person from the food to the things he or she must use in her daily life. With this, the FMCG sector will always stay in business because majority of its segments sell a need instead of a want and also these products are consumed as often as everyday and sometimes even more than once.
posted by admin on Dec 28
Retail businesses are now part of the internet market and are gaining popularity. They are not part of the e-commerce that is experiencing tremendous growth because of the power of the internet. But this also implies a more fierce competition grounds between businesses and in order to stay in the retail business, these three things are very important: stocks, on-time, and quality.
Retail businesses sell in single or smaller quantities. Though in small quantities, the availability of stock is the most important factor for without it, the other two factors will be nonsense. It is important because customers can buy at a regular or irregular trend and when the situation where no stocks is available to fulfill the customer requirement, this creates a bad impression about the business. It would mean that it is not competent in serving its customers demand. Secondly, on time delivery is a very valuable aspect of a business. Customers expect their requirements to be fulfilled at the time they need it and as promised by the retail business. Delivering on time has been proven to please customers and cited as a good driver for sales.
But of course, one might have the stocks and delivered them on time but the expected quality was not fulfilled. In the retail business, sometimes this aspect is left compromised. Not most people realize that customer loyalty also strongly depends on it. Quality products or services delivered on time and with the right quantity is the perfect technique in staying in the retail business.
posted by admin on Nov 29
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