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You can’t manage what you don’t measure, and you can’t measure what you don’t define. Learn about key performance indicators for the retail industry, such as sales per square foot, gross margin ROI, average transaction value, customer retention, conversion rate, foot traffic , digital traffic and inventory turnover, etc. These metrics are used worldwide by major industry players to track and improve their performance.

To remain competitive in this ever-changing landscape, it is imperative that retailers deliver a seamless customer experience and deliver the right services and products at the right time. Learn the strategies to overcome challenges in the retail industry. Retailers must use technology and solutions to revive their businesses in the COVID-19 world. An omnichannel marketing strategy can help retailers reach a wider audience for their brands.

Markets are continually changing and to understand the dynamics of any industry, it is important to understand what is happening and how industry market players see the future of the industry. In this article, we will discuss recent trends seen by the retail industry. This document provides an overview of the major trends identified for the retail sector.

The consumer goods sector is a category of stocks and companies that relate to items purchased by individuals and households rather than manufacturers and industries. These companies manufacture and sell products intended to be used directly by buyers for their own use and enjoyment. This sector includes companies involved in food production, packaged goods, clothing, beverages, automobiles, and electronics. Nestlé, Procter & Gamble and Pepsico are among the largest consumer goods companies in the world.

We are all consumers, from cradle to grave, to be more precise, from womb to grave or cremation. In a sense, the consumer’s story is the story of humanity. Consumers are the most important economic group in any country. They are the central point of all our economic activities. But the same consumers also ate the most speechless group. The nature of the consumer in terms of needs, consumption patterns and problems has changed and evolved with social and economic development throughout history.

From an economic point of view, there are three main types of consumer goods: durable goods, non-durable goods and services. For marketing purposes, consumer goods can be grouped into different categories based on consumer behavior, how consumers buy them, and how often consumers buy them. One of the largest groups of consumer goods is called fast moving consumer goods. This segment includes non-durable goods like food and beverages which move rapidly through the chain from producers to distributors and retailers and then to consumers.

FMCGs or Consumer Packaged Goods (CPGs) are products that are sold quickly and at relatively low cost, e.g. non-durable goods such as soft drinks, toiletries and groceries . They usually sell in large quantities, so the cumulative profit on these products can be substantial, and these industries often operate on low margins.

There are tens of thousands of general consumer product manufacturers in the United States. They compete to develop the best products at the most affordable price for the greatest number of consumers. Challenges for these organizations include meeting changing customer demands, maneuvering in a consolidating market, and executing strategies to grow profitably.​