FMCGs, also known as Fast Moving Consumer Goods or Consumer Packaged Goods are products which are sold quickly and at a relatively low cost. It is one of the most fast moving sectors especially in India as it is the fourth largest sector in India with household and personal care accounting for more than 50% sales in India. Here, in this blog we have covered all the major trends and careers of FMCG in 2021.
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FMCG Trends in 2021
Let’s explore the most popular FMCG trends in 2021:
Prioritizing of Health is becoming the Ultimate Consumer’s Preference
One of the major trends that have already started happening is consumers prioritizing their health. The pandemic has started a debate about immunity and thus the consumer’s focus has shifted to food items that are more beneficial for their health. Although low-sodium, sugar-free products have been in the market for decades but were only sold at special healthcare stores, it is only now that they have made their way into our regular supermarkets as the demand for them has expanded rapidly. Products like soy milk, alcohol-free mocktails are gaining wider acceptance and availability. Thus, this is a trend which is likely to only increase in 2021.
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As people’s lives keep getting busier, it all comes down to one thing i.e. convenience. People want more convenience in their life especially when it comes to getting their meals which is why food delivery giants like Uber Eats, Zomato etc have gained popularity as well. FMCG markets are responding to the desired convenience in the best way possible. For eg.- ready to eat meal options are becoming more popular especially among all the millenials just for the sake of convenience.
Consumers Look for an Experience
The FMCG sector has realised that consumers look for an experience rather than the actual product i.e. how the product makes them feel what they experience with that product. This is why major industry players of the FMCG sector are looking to create an experience around their products and encourage sharing among consumers by investing to enable a better sense of personalized communication through social media and community management.
FMCG makers are launching more products which encourage consumers to share their experiences online and generate conversation with their peers to get a better return on investments in marketing.
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Technology is the most powerful tool in today’s time and efficient utilisation of technology can do wonders for a business. Technology, as a trend has been in the market for quite a long time now and it is here to stay only. As technology continues to evolve, there are many avenues, these brands can take to stay ahead of the game.
Consumers are spending most of their time online and businesses need to figure out a way to create their identity digitally in order to scale up their brand. The use of data can help a brand to understand how their customers interact with them at present, and how they can utilise consumer insights to work in their favour.
Consumers have started becoming more aware of the negative impact of FMCG production and its byproducts. Brands are under pressure to simplify messaging and deliver unambiguous information. It is not just the product itself, but how the product is packaged and labelled that will impact consumer choices as more and more consumers opt for plastic-free solutions. Organic products or local products have started catching the eye of the consumer and are getting more attention due to the sole reason for its impact on the environment.
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FMCG Careers in 2021
As explained above, FMCG is one of the biggest sectors in the world which creates millions of jobs directly or indirectly. Due to the smooth availability of raw material and the high number of consumers, India acts as a major destination for such companies and attracts them from all around the world. The pandemic disrupted the growth of the FMCG sector this year due to the nationwide lockdown and name on the production of goods other than essential services. However, the demand has started increasing after the nation opened up and the food industry witnessed growth. The big companies state that the worst is hopefully behind us and they are looking towards an optimistic recovery. However, instead of all this, the FMCG sector is assumed to increase substantially next year which will eventually lead to more job creation.
As more and more single and multi-brand retailers are queuing up ahead for the government to invest in this sector, hiring will shoot up in this sector. According to several reports, the private sector food firms can create up to 7,00,000 jobs.
As the consumers become more global in their aspirations and desire, their appetite to consume products is only increasing. In order to meet this demand, companies have to invest in R&D and at the same time, the product life cycle is shrinking and companies are continuously launching new products. Due to all these reasons FMCG companies recruit people at all levels including freshers from B-schools.
We hope that this blog helped you gain valuable insights about the FMCG trends and careers in 2021. Stay tuned to Leverage Edu for more such informational content on careers and education!