Fast-Moving Consumer Goods or conveniently called FMCG companies produce products that are sold quickly and have relatively low cost. The products mainly include toiletries, eateries, or personal care products. Companies like Coca-Cola, Hindustan Unilever, P&G come under the category of FMCG companies. In India, it is the 4th largest sector. In the FMCG sector, household and personal care products sale covers the highest proportion of 50% sales, then comes the healthcare covering 30-31% while beverages cover 18-19% of the sales.
Now, let’s discuss about some of the best FMCG skills which is required to get into FMCG industry and who should acquire these skills.
How Does Someone Get Into An FMCG Company?
FMCG companies accept applications from graduates in various fields ranging from technical to research & development to marketing. The companies look for individuals with soft skills like team players and leaders. You can get into an FMCG company by earning a relevant degree and actively applying for jobs whenever there is an opening or with the help of a recruitment agency like Vijeta Placements. Vijeta Placements works as a partner to get into an FMCG company. They connect you to your dream companies and works as a guide to land up your dream job.
Skills Required In the FMCG Industry
So, let’s begin listing them one-by-one:
1. Market Research
Market Research is researching about the consumers. Through this information, researchers devise problems and identify solutions to the same. We do not know the issues all the time; hence, market research is of two types:
- Exploratory Research
This research is the qualitative type. First, problem identification is done. Then it is explained for in-depth understanding. The methods of the research study include secondary literature review, in-depth interview, and focused group discussion.
- Conclusive Research
This research is the quantitative type. When we know the problems, we try to devise solutions for the same. Later, we conclude whether the hypothesis formed by exploratory research is valid or not. The methods of the research study include questionnaires and experiment-stimulation.
2. Data Analytics
Market research goes hand-in-hand with data analytics. Hence, it is an important skill to get into an FMCG company. Using technical skills; data is analyzed and the findings are shown in the form of a report. These findings are then used to infer a solution or progress in the solution to the identified problem. Data analysts use SQL skills to extract data, programming skills to analyze the data, and communication skills to report the data.
3. FMCG Sales Skills
The FMCG sales skills are the premier skill required to get into an FMCG industry. Sales skills are supporting the customers who are making purchases and resolving the issue they are facing. Sales skills not only work with customer satisfaction with the services but also the overall brand engagement. The individuals are required to have interpersonal skills to persuade the customer to buy from the brand. And also have a smooth buying experience.
4. Understanding Consumer Insights
One of the vital skills required in the FMCG industry is understanding consumer insights. The FMCG industries do not prefer candidates with only core knowledge and no applicability. Data analysis and problem-solving skills are required to understand consumer insights to ascertain they return to the brand. The skill allows individuals to understand the requirements and issues of the consumers and work accordingly on the solutions.
5. Technical Skills
The FMCG industry is also growing in its technical background. It is developing new projects and needs technological implements for the same. The machines are getting automated. Hence, individuals with advanced technical skills are in high demand in the industry. Individuals with finer technical skills are required to transform the company from manuals to fully automated ones.
6. Distributor Relationships
Maintaining Distributor Relationships skills is one of the most vital skills required in the FMCG industry. Distributors are responsible for the redistribution of the product in the market. They also hold the responsibility for coverage of the market. At times they also deal with a particular client base for the industry. In the marketing role, distributor relationship skill is crucial to address the issues faced by distributors, wholesalers, or retailers of the company. Distributors listen to their concerns and solve their problems.
7. Digital Marketing
The world today is turning digital. And so are the marketing strategies. Like all other industries, FMCG also requires a digital presence to reach customers. Digital marketing covers the digital existence of the brands. And hence, it requires specialized skilled professionals for the same. The traditional practice of marketing on television, billboards, etc. has moved more towards phones and laptops. Digital marketing requires various skills to make the brand reach its potential customers. It ultimately helps in innovation as well.
8. Financial Accounting
When it comes to FMCG companies, financial skills are as vital as marketing and technical skills. A financial accountant in FMCG Company leads all day-to-day financial responsibilities; including payable accounts and payroll. Financial accounting skills are needed for the production of financial reports, maintaining the accounting records, accurate processing of financial records, and controlling and designing the budget to mitigate risks.
9. Working Under Pressure
The jobs in FMCG Company seem demanding when individuals cannot work under pressure. This industry is fast-moving, and the employees need to work at that pace. They need to make quick decisions, deliver perfect service and think clearly. The individual should have a wide range of skills to keep up with the fast pace. They need to excel in time management and organizational skills to deliver the best services at the pace of the company.
10. Critical Thinking
When you work in an FMCG company thinking on your feet is highly demanded. The industry demands quick and effective decisions to solve the market and customer problems. Critical thinking skills also enhance creativity to explore fresh ideas and reach more clients. Critical thinking induces problem-solving ability which also helps in discovering what customers need before they demand it. The problem-solving skills are accompanied and advanced by data analysis and research skills. These skills help in making effective decisions in finances as well as in technologically developing the industry.
FMCG is a fast-growing and fast-moving industrial sector. It requires specific skills for the particular job role to get into the FMCG Company. Besides, interpersonal and soft skills like persuasion, discipline, organizational skills are required to keep up with the fast pace of the industry. You are first required to identify the skills required according to your dream job role, work towards mastering those skills, and apply for jobs actively or by making a recruitment agency like Vijeta Placements a partner in your job search and grab your dream job in the FMCG industry.