Products classified as fast moving consumer goods have a short life cycle; that means that the customer buys them regularly because he always needs them. The prices of everyday goods are quite low, but the volume of sales makes huge revenue, sometimes exceeding the income from the sale of luxury products.
For these reasons, selling fast moving consumer goods in Nigeria is a great idea for a business that can bring a huge and stable income.
Let’s take a closer look at this industry and check out the top fast moving consumer goods companies in Nigeria!
1. What Is Fast Moving Consumer Goods?
Fast moving consumer products are everyday goods like food, household chemicals, beer and cigarettes.
If you are wondering what are fast moving consumer goods, you have to keep in mind that there is a certain difference between the ordinary consumer goods and goods with a high turnover (such as bread, milk, soap, salt, meat, etc.).
Let’s take, for example, a mobile phone: although it is related to fast moving consumer products, it cannot be used so quickly that it needs to be re-purchased after a short time.
2. Fast Moving Consumer Goods List
This category includes farm produce and processed foods.
2.1.1. Farm Produce Goods Include:
- fish and every other food item produced on farms.
2.1.2. Processed Foods Are:
- canned food,
- sachet food,
- boarding school provisions,
- garri and more.
2.2. Phones And Accessories
It is a matter of fact that Nigerians buy Phones and accessories a lot. Every year, the new, updated phone models hit the market? And many people sell the old ones to buy the newest phones.
Phone accessories like chargers, screen protectors, phone cases, earphones are also very important products that increase the convenience of use of the phones and even improve the functionality.
2.3. Clothing And Fashion Accessories
Fashion clothing and accessories business is a business that always brings huge profit.
The industry is so big and the fashion changes so fast that thousands of big vendors have already moved to social media. Today, Instagram vendors are the most popular ones. Markets like Balogun sell millions of clothing items every day.
Cosmetics and toiletries (like your soap, tissue paper, toothpaste, body lotion, face wash etc.) are things that people buy monthly or weekly. Products like sunscreens, coconut & tea tree oil, vitamin C, natural serums and black African soap have a great demand among men and women.
The rate of purchase of pharmaceuticals increases every year; however, people experience more and more health issues.
2.6. Home Appliances
Since they improve the quality of our lives, home appliances are always on demand. From kettles to washing machines, from blenders to television sets, name it.
Though the modern appliances are quite durable, however, many families permanently buy new appliances year after year.
Water is the fastest selling fast moving consumer product in Nigeria and world. That’s no surprise – water is a primary need! This category houses the sachet water, table water and water in dispenser bottles.
2.8. Computers & Accessories
Computers and computing devices are needed in every industry including today’s farming.
Some modern devices need the accessories for optimal functioning, protection or easiness of use. The rapid growth of the technology ecosystem also makes people buy the newest, updated gadgets year by year.
There are many types of beverages like soda, wine, beer, various energy drinks. As long as there are special events or just some guests at home, beverages will always be on demand.
3. Fast Moving Consumer Goods Companies In Nigeria
Fast moving consumer goods brands for 2020:
- Nestle Nigeria Plc.
- Flour Mills in Nigeria.
- Dangote Group .
- Unilever Nigeria.
- Beloxxi group.
- PZ Cussons.
- DUFIL Prima Foods.
- British American Tobacco.
- Chi Limited.
- OK foods.
- Fareast Mercantile Company.
- Bimzy Super Stores Ventures.
- Dis and Dat Mart.
- Dansa Foods Limited.
- Deli Foods.
- Honeyland foods.
- Nutri C.