The consumer goods and retailing industry produces, transports, and markets commodities for personal and household consumption. Food & beverages, personal care products, electronics, clothing, and other luxury products, necessary and nonessential for the household, fall under this category. This is another indication of why the segment is still the fastest-growing out of all the industries across the world.
The population of Earth is increasing from time to time; together, leaners are having more disposable income as well as digital availability of retail avenues. All these help to increase the size of the consumer and retailing market. The food and beverages category holds the largest share, followed by the personal care, clothing, electronics, and shoes segments.
The consumer goods and retailing industry produces, transports, and markets commodities for personal and household consumption. Food & beverages, personal care products, electronics, clothing, and other luxury products, necessary and nonessential for the household, fall under this category. This is another indication of why the segment is still the fastest-growing out of all the industries across the world.
The population of Earth is increasing from time to time; together, leaners are having more disposable income as well as digital availability of retail avenues. All these help to increase the size of the consumer and retailing market. The food and beverages category holds the largest share, followed by the personal care, clothing, electronics, and shoes segments.
The consumer goods and retailing industry is essentially the one that produces, delivers, and makes available for sale goods that are intended for everyday use by the consumers. It is an industry where there are basic goods as well as luxury goods and a combination of both, so as to respond to an array of consumer needs and uses, including personal and household needs. This is a vibrant industry that is full of innovations, a network of sophisticated supply chains, as well as fierce competition.
1. Based on Product Groups:
Food & Drink Products: Processed foods, chips, milk products, and drinks (both alcoholic and non-alcoholic).
– Cosmetics: Body care, hair care, and makeup.
– Clothing & Footwear: Apparel and shoes for everyday work and sports.
– Gadgets: Phones, kitchen tools and watches among other devices.
– Products for House Maintenance: Surface cleaners, soap powders and scented aerosols.
2. Based On The Mode OF Sale:
- Markets Or Supermarkets, Or Hypermarkets
- Mini Markets
- E-Tailing
- Specialized Stores
1. Environmental Protection and Fair Trade Practices: Lately, customers have shown marked interest in purchasing goods with less environmental degradation.
2. Technological Advances: Artificial intelligence and analytics are helping companies to improve stock management, consumer interaction and marketing.
3. The Ascendancy of E-commerce: Companies have had to make a shift to online markets because more and more customers are using online platforms.
4. Network Shopping: Notably, many consumers now engage in subscription purchases to avoid hefty costs.
5. Looking to Emerging Markets, Especially Africa: These consumer markets are growing rapidly in Africa, Asia, Latin America and present opportunities to global companies.
- Electronic Commerce-Based Retailing: By the year 2023, approximately 20% or more of all the retail sales will be done online and to increase to 30% by 2023.
- Sustainable Practices Matter: Some over 60% of consumers even preferred those produced in an eco-friendly manner and those that have been sourced sustainably.
- Digital Payments: Shopping experience is fast becoming simple with contactless shoe payment means and digital wallets.
- Customization: Companies are increasingly focusing on product and service customization.
- Multi-Channel Retailing: Retail businesses are able to provide a better consumer experience as the stores merge both online and physical branches.
The markets for consumer goods and retailing fall into the following categories:
1. Classification by Product:
Foods and drinks
- Beauty Products
- Clothing Items
- Electrical Devices
- Household Goods
2. Classification by Distribution Method:
- Internet (such as e-stores or social media)
- In-store (hypermarkets, supermarkets, hyper-convenience)
3. Classification by user:
- Consumers
- Organizations (B2B commerce)
4. Classification by Geographic Location:
- United States
- Continental Europe
- Asia Pacific
- South America
- MENA
1. P&G (Procter & Gamble). One of the largest makers of personal grooming and household products in the world.
2. Nestle. The food and beverage industry giant synonymous with brands such as Nescafe and KitKat.
3. Unilever. The multinational company has a vast range of products including Dove, Lipton, and Knorr.
4. Wal-Mart. This is the biggest supermarket chain worldwide, offering its services both in stores and online.
5. Amazon. Leading in e-commerce with its bountiful consumer goods supply.
6. Coca-Cola: An undeniable force in the business of beverages.
7. LVMH: One of the leading luxury retailers.