Customer goods are items that the typical consumer buys to use themselves. They are separated into three groups: services, nondurable commodities, and durable goods. Nondurable items have a shelf life of less than one year while durable items have a shelf life of three years or more. The greatest category of consumer products is fast-moving goods.
They are promptly consumed and have a limited shelf life, hence they fall under the category of nondurables. Fast-moving consumer goods (FMCG) are used by almost everyone on the planet every day. They are the little things we buy for ourselves at the produce stand, grocery shop, supermarket, and outlet warehouse. Examples include aspirin and other over-the-counter medications, toilet paper, fruit and vegetables, milk, gum, soda, and gum.
Due to the high turnover rate of fast-moving consumer goods, the market is not only tremendously vast but also very competitive. In this sector, some of the biggest businesses in the world, including Tyson Foods, Coca-Cola, Unilever, Procter & Gamble, Nestlé, PepsiCo, and Danone, compete for market share. To intrigue and attract customers to acquire their items, businesses like these must concentrate their marketing efforts on fast-moving consumer goods.
The Ethiopia FMCG market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
With millions of inhabitants, Ethiopia has the second-largest population in Africa. Investors predict that Ethiopia’s demand for consumer goods will increase over time. While Covid-19, recent war, and inflation have slowed some consumer spending in Ethiopia over the past few years, the medium-term picture is encouraging.
Ethiopia was predicted to be one of Africa’s major consumer markets before the country’s civil war broke out because of rising earnings as commercialised agriculture grew to support the nation’s expanding export profile. Ethiopia was one of the 11 nations that made up a sizable portion of the overall income and consumer spending in all of Africa.
Fast-moving consumer goods (FMCGs), which are continually in high demand and are low-cost products with a short shelf life, present investment opportunities in both food and non-food products as consumer spending in Africa is expected to rise. While consumer spending decreased across the continent , take-home FMCG value increased in Africa and the Middle East, albeit more slowly. A large portion of household spending in nations like Ghana, Kenya, and Nigeria is made up of food and beverage purchases, particularly for basic products.
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