The Indian economy has seen many unforeseen changes over the past few years and the process is likely to continue. In these years, many industries emerged and many lost their significance. As a consequence many new career options came into view and some of the existing ones rose to prominence. The Indian FMCG industry is one of those sectors that witnessed massive growth in the last ten years. Also known as the CPG industry, the FMCG is a sector worth multi-millions and is comprised of large number of brands that sell essential household items are bought almost daily. These items include detergent, soap, shampoo, packaged food, shoe polish, paper and stationery, soft drink, personal care product and particular electronic products. This is the reason that these items are considered as fast moving as they are quickest consumables to leave the stores. Majority of the electronic goods would fall under the FMCD or fast moving consumer durable sector.
The FMCG industry in India holds the fourth largest position in the Indian economy. Presently, the estimated worth is more than US$13 billion. It has a strong presence of multi-national corporations and yet is characterized by numerous small local brands. Due to this high degree of fragmentation, career in FMCG market promises multitude of options and bright prospects.
Growth prospect of FMCG sector
The Indian FMCG is one of the fastest growing sectors. In the past decade, it grew at a rate of 11%. According to Nielsen, it is likely to grow to US$49 billion in 2016 and as per the India Brand Equity Foundation, it will achieve a 14.7% growth rate and US$110 billion by 2020. Presently, the main challenge faced by the industry is that of consolidation. As FMCG products are daily necessities, they are always in high demand. The FMCG goods are low-priced, high volume items inviting high competition. The market is so vast that almost 50% of it is comprised of unpacked and non-branded homemade items, thus making it one of the greatest fragmented fields. So, we see MNC entities Hindustan Unilever Limited, P&G, Cadbury, Nestle competing with national giants Dabur, Godrej, Emami, Britannia, ITC, Asian Paints while some specific geographical pockets witness competition from strong local players. Because of an increase in the per capita income, the rural sector is the new rising precinct of the Indian FMCG. To balance the developed urban and the developing rural sectors, there will always be a growing demand for people looking for a career in FMCG. This implies greater demand of workforce solution from the placement service providers in the country.
Career opportunities in FMCG sector
It is quite justifiably stated that the FMCG sector never faces a dull moment. It is always changing and evolving. Because of their very nature, the FMCG goods are sold out within no time and that is why there is always need for abundant manufacturing, modification and new innovations. In the present age, the Indian FMCG market is growing at a pace faster than ever. This coupled with the challenges of combining the rural sector with the urban sector in the face of huge competition is likely to create new job opportunities in the field. So, a career in FMCG would be a package of new challenges, new excitements which would gratify the aspirations of countless ambitious minds. In fact employee investment is a vital part of taking the industry forward. The following are some of the regular job positions in the FMCG industry:
- Sales and marketing: FMCG is a unique industry in the sense that a large part of it involves earning and maintaining the loyalty and trust of its customers. It produces items that are used in your kitchen, living room, bathroom or bedroom. Unless a company and its products are widely recognized, it will not sustain under competitive pressures. Therefore, marketing is a huge part of it. There are various categories of sales and marketing officers who generally manage volume, market share and promotional strategies.
- Operations and supply chain: Operations include managing and organizing the manufacturing and logistics departments while supply chain means ensuring the scheduled delivery of products. For FMCG items, reaching the market at the right time and in right quantity is very important.
- Finance: To maintain accounts i.e. record of financial transactions and managing expenses and contribution margin.
- Product/Brand manager: Involves formulating business strategies to strengthen the equity of a brand.
- Human resource: To maintain a congenial and productive work atmosphere and motivate employees to outperform on every aspect.
If you are interested in building a career in FMCG, you can contact a job consultant who will be able to inform you about exciting job openings.
Qualifications for a career in FMCG
The qualifications needed for FMCG jobs largely varied in accordance of the specific requirements of the job profile. Technically, the basic academic requirement is that of a graduate’s. However, specialized skills like engineering degree, MBA or CA qualification and experience may be needed depending upon the nature of the job. The common criteria are a sound knowledge of commercial products and one’s ability to work as a team. The jobs also require well-developed communication and marketing skills especially for people at the front end. Apart from that one should have good organizational capabilities and analytical proficiency. It is always advised to seek the service of a placement consultant regarding the technical particularities that a job opening would demand.
A career in FMCG is always full of action as changing consumer buying preferences, newer regulations, innovation in technology or packaging and of course, stiff competition keeps the industry buzzing with life.