Fast Moving Consumer Goods or Consumer Packaged Goods is the 4th largest sector in the Indian economy and involves products that can be purchased at low costs. Since FMCG products have a shorter shelf life, they are sold very quickly thereby resulting in higher consumer demand. Many a times, these products are sold in larger volumes with low margins. FMCG industry ranging from Foods and Beverages, Home and Personal Care to others such as Cigarettes etc., get further sub-divided into segments such as processed foods, dry goods, prepared meals, over-the-counter products, confectionery, snacks etc. for Foods and Beverages whereas for Home and Personal Care, segments include products such as household cleaners, skin care, hair care, toiletries, cosmetics etc.
The overall industry trend and forecast related to products, packaging, price, promotions, advertising, target market in terms of age, gender and taste preferences can then be formulated using our Market Research, Mystery shopping, Strategy and Consultancy services.
Agriculture is the primary source of livelihood for about 57% of India’s population, thereby making it a very important sector for market research. Multinationals today connect with farmers to be able to provide better facilities to the general public. To understand the farmers’ perspective, seed quality, livestock and animal health, machine equipment and gardening, our Market Research and Consultancy services will enable appropriate data and recommendations for the way ahead.
An important medium for FMCG products to work is the structure of retail outlets – Departmental Stores, Hypermarkets, Super Markets, Specialty Stores, Pan Shops, Vegetable stores, Mall stores and others. Stores need to identify as to which is the best strategy for their kind of environment. They need to keep the assortments fresh and neat, and keep on rotating the categories, brands and products in order to give the shopper a new experience every now and then. The idea is to keep the shoppers on toes so that they not only remember the product purchase but the entire experience they had while being in and around a particular store.
Identifying new and innovative practices, making customers aware of new products in the store, quitting selling alternative products, providing customized products and services and giving them an experience of the product they are going to purchase are a few elements to increase store footfall, which can be determined through our services.
Regarding Agricultural Research and Consultancy, demand for services such as warehousing, cold storage, crop quality and animal services can be put in line when the businesses are well aware of the issues being faced at the ground level. Unless the scope is identified, way ahead cannot be defined!