Question

What does FMCG stand for?
a. First Moving Consumer Goods
b. Fast Moving Convenience Goods
c. Fast Moving Consumer Goods
d. Fast Moving Collateral Goods

Answer 1

Hint:
 Items purchased for use by the average customer are “consumer goods”. They are categorised into three distinct categories: durable, non-durable products, and services. Durable products have a shelf life of three years or more, while the shelf life of nondurable goods is less than one year.

Complete step by step solution:
Items that sell easily at relatively low prices are fast-moving consumer goods. The largest category of consumer products is fast-moving consumer goods (FMCG). They fall into the category of non durable since they are quickly eaten and have a short shelf life. These products are also known as branded consumer goods. Because of high market demand (e.g., soft drinks and confections) or because they are perishable (e.g., poultry, dairy items, and baked goods), FMCGs have a limited shelf life. These items are often bought, consumed quickly, priced at low prices, and sold in large quantities. When they're on the shelf at the supermarket, they also have a high turnover.

Every day, almost everyone in the world uses fast-moving consumer products (FMCG). They are the small-scale customer transactions that we make at the stand, grocery store, bakery, and warehouse outlet of the product. Milk, gum, fruit and vegetables, toilet paper, soda, beer, and over-the-counter drugs such as aspirin are examples.

It is possible to classify FMCGs into many different groups, including:

Processed foods: items made from cheese, cereals, and boxed pasta
Prepared foods: Meals that are ready-to-eat
Drinks: Water in bottles, energy drinks, and juices
Baked goods: Cookies, croissants, and bagels: Fruit, vegetables, frozen peas and carrots, and raisins and nuts: new, frozen foods, and dry goods
Medicines: aspirin, pain relievers, and other medicines that you can find without a prescription.

FMCG Sector in India:
India's fourth-largest household and personal care market is the fast-moving consumer goods (FMCG) sector, accounting for 50% of FMCG sales in India. The main growth drivers for the sector have been increasing awareness, easier access, and changing lifestyles. The urban segment (approximately 55% revenue share) is the largest contributor to India's overall revenue generated by the FMCG sector.


Hence, the correct answer is option C.

Note:
 A very significant element in the manufacturing process is the packaging. To optimise performance, secondary and tertiary packaging is often needed for logistics and distribution systems. For product safety and shelf life, the unit pack or primary package is important and also provides customers with knowledge and sales rewards.