You are logged in as customer LOG OUT
6 PrepPacks™
60+ Prepared
600+ Questions

XXX

XXX
XXX

XXX

XXX
XXX

XXX

XXX
XXX

What Is the Consumer Goods Industry?

The Consumer Goods Industry is a category of companies producing items for individuals rather than for manufacturers and industries. These companies make consumer goods, also called tangible commodity, purchased to satisfy the perceived wants of the buyer. These wants may include but not limited to food, packaged goods, clothing, beverages, electronics, and automobiles. Also referred to as an “end product,” consumer goods are sold to people for personal use, to be used in the home or school, or for recreational purposes.

How well the Consumer Goods Industry performs depends on consumers’ behavior. In times of thriving economy, the sector witnesses an increased demand for higher-end products; that is, for the most expensive and advanced items in companies’ product range or in the market as a whole.  When the economy goes into decline, people limit themselves to buying value products; in other words, products that are necessary, such as food and beverages. Luxury items - automobiles, electronics, and branded clothing - are purchased less in hard economic times.


How Are the Consumer Goods Divided?

Consumer goods are tangible commodity designed to satisfy people’s needs and sold to individuals. They are divided into three categories: durable goods, nondurable goods, and services.

Consumer Durable Goods – These products are called durable because they have a significant life span, about three years and more. Sometimes, however, goods with a life span of only a year are also categorised as durable. The most common examples of durable goods are automobiles, furniture, household appliances, and mobile homes. Consumer Durable Goods have features in common with capital goods; that is, with tangible items such as buildings, machinery, and equipment used to produce other goods and services. What is common between these two types of goods is that people’s use of them is not only lasting but also requires maintenance services. Like capital goods, durable goods are highly volatile and cost-dependent because they not only last long but also cost more than nondurable goods. For these reasons, people often think long and hard before spending large amounts on them, often postponing their purchasing decisions until their economic situation improves. 

Consumer Nondurable Goods – Called also consumable goods, these products are bought for immediate use and consumption. Their life span, therefore, lasts from several minutes to three years maximum. Among the most common examples of nondurable goods are food, beverages, clothes, shoes, and gasoline. Depending on how nondurable goods are used, they can be divided into three categories:

  1. Nondurable goods that are literally consumed, as happens with food and drinks;
  2. Nondurable goods that are utilized until they are gone. Among such goods are toothpastes, deodorants, shampoos, creams, and washing liquids;
  3. Nondurable goods that are used only once and then disposed of. Examples of such products are light bulbs, paper cups, newspapers, and tissues.

Consumer Services – These products or actions are intangible; in other words, they have no physical form and refer to experience, result, or process. Consumer services are consumed as they are being produced. Consumer’s services are restaurants, hotels, travels, media, information technology, insurance, leasing, utilities, leisure, creative services, such as design, and professional services such as legal advice or stylist’s hairdos, personal services such as babysitting or cleaning.  


What Are Fast Moving Consumer Goods?

Fast Moving Consumer Goods is one of the largest consumer goods groups, including such nondurable goods as food and drinks. We use these products on a daily basis. The name of this sector implies that the products called “fast moving” leave shelves on which they are displayed very quickly. They are also not expensive and high in volume. This sector is highly popular with companies and retailers and offer them high shelf space turnover opportunities.

Companies producing fast moving consumer goods give customers products that are in high demand and develop with them trustworthy relationship, encouraging them to remain loyal to their goods rather than switching to products offered by other companies. Among goods that are identified as “fast moving” are household products such as cleaning and laundry, pharmaceutics, food, personal care items, plastic goods, stationary, and some electronics.

Fast Moving Consumer Goods Industry in the UK

Fast Moving Consumer Goods Industry overall has a value of more than $570 billion. The UK government has recently invested over ₤11 million into food technology, which put the UK in the forefront of the food technology market in the world. Within the UK, Fast Moving Consumer Goods Industry is very strong and accounts for 15% of all manufacturing. According to statistics, UK consumers spent almost 4% more on FMCG each year, with Brexit contributing to the higher use of these goods. Analysts foresee that the Consumer Goods Industry will continue growing, especially if helped by e-commerce. They say that by 2021, the online grocery market, for instance, will grow by 68%. Now Fast Moving Goods Industry is worth ₤110 billion. Its import value is ₤38.5 bullion; and its export value ₤18 billion. There are 400,000 people employed in this sector.     


What Are Job Opportunities in the Consumer Goods Industry?

Fast Moving sector within the Consumer Goods Industry offers good employment prospects. This industry suffered less even in the times of recession. Since 2012, there have been created 12% more jobs in the Consumer Goods Industry. The variety of jobs available in the industry is large, because the Consumer Goods Industry itself is so encompassing. If you are looking for jobs in this sector, you can find the following job opportunities:

  • Health and Safety Manager – This role requires maintaining processes on a high level, for which health and safety managers need to generate new ideas. They also coordinate Health and Safety systems and ensure that their company complies with the legislation and business requirements.
  • Sales Manager – This position requires individuals to increase sales and attract more customers to their business. Sales managers take responsibilities for profitable growth, customer service, delivery, and management.
  • Stock Control Manager – This position implies that an individual takes a responsibility for distributing the correct levels of stock internally. Stock Control Managers also keep a stock control process updated and ensure that product levels are high. Monitoring the stock levels is crucial for meeting the targets set by a company.
  • Business Analysts – The most important skill business analysts should possess is analytical. Business analysts provide deep analysis of businesses across different areas, for which they need to understand their company’s business and suppliers equally well. They are required to collect, analyse, and interpret technical data together with driving quality control and maximizing efficiency in every part of the business.
  • Head of Sourcing - In this role, employers deliver strategic plans of a company at the lowest cost but maintain the good quality and standards. The main responsibility of the Head of Sourcing is to keep sourcing benefit in the supply-chain and, in so doing, create a competitive advantage for the company’s business.   

All these positions require high intelligence and good logical, numerical, and verbal skills. JobTestPrep has developed high-quality materials that can prepare job applicants for new roles in the Consumer Goods Sector. Our PrepPack™ contains close test simulations that will not only familiarize candidates with the formats of their upcoming tests but will also improve their abstract thinking, understanding of written texts, and the accuracy and speed of their calculations. All these skills prove indispensable for working in the Consumer Goods Industry and will greatly help applicants perform their duties well. By practising with JobTestPrep’s comprehensive resources, you will significantly increase your chances of succeeding in your new workplace.

JobTestPrep makes an all-out effort to help job candidates to become employed in the company where you wish to work. Our high-quality resources are created to help you pass your pre-employment tests and interviews with good results. Prepared by us, you will get a position you always wanted and will start building an impressive and rewarding career in the Consumer Goods Industry.