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Consumer packaged goods (CPG), commonly referred to as fast-moving consumer goods (FMCG), are things that are sold quickly and for a low price.
Non-durable household items such packaged foods, drinks, toiletries, candy, cosmetics, over-the-counter medications, dry goods, and other consumables are some examples.In contrast to speciality items, which have smaller sales and greater carrying costs, fast-moving consumer goods have a high inventory turnover.
In particular, hypermarkets, big box stores, and warehouse club stores carry only FMCGs. Fast moving goods are also stocked at small convenience stores, which fill their limited shelf space with more popular items.
The UK FMCG market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
In the UK FMCG market retail baskets used for groceries are the most valuable of all. Most grocery items don’t really have a distinct seasonality of buying, unlike every other category. No of the season, it’s likely that buyers will add that pint of milk to their baskets each week.
Grocery businesses have buying down to a science, strategically positioning their merchandise to encourage customers to make as many impulsive purchases as they can. On their journey to the basics towards the back of the store, Fast Moving Consumer Goods (FMCG) shoppers pass by hundreds of items.
A lot of what brands and retailers once knew about the purchasing process and how to engage customers has been turned on its head by the advent of online FMCG ordering. Online buyers navigate through many sites to compare pricing.
Due in part to Millennial ecommerce expectations and their growing desire for convenience as parents, online groceries are flourishing in the UK.
Leading supermarkets providing home delivery, local pick, and strategically situated lockers include Tesco, ASDA, and Sainsbury’s.
The same-day delivery alternatives offered by Amazon, which entered the UK , are fueling further competition in the FMCG market. FMCG brands and retailers must get it right since digital channels are driving grocery retail growth. Retailers are using their data to tailor and guide the experience for customers due to the small margins in the sector.
