Understanding-Convenience-Goods and their nature

Nature of convenience goods. Purchase process followed.

1. Understanding Convenience Goods Welcome to our presentation on Convenience Goods: A Deep Dive into Consumer Behavior and Market Trends. SC by Sunil Chougule

2. Key Characteristics of Convenience Goods Frequent Purchases Consumers buy them regularly, such as groceries, beverages, and household items. Low Price Points They are often inexpensive, making them accessible to a wide range of consumers. Minimal Shopping Effort Consumers expect easy access and minimal purchase decisions. Impulse Purchases Consumers may buy them on a whim, without extensive planning.

3. Types and Examples of Convenience Goods Staples Essential items, such as milk, bread, and eggs. Impulse Goods Items bought on a whim, such as candy, gum, and magazines. Emergency Goods Products bought in urgent situations, like bandages or batteries.

4. Consumer Behavior and Purchase Decisions Accessibility Consumers prioritize convenience and easy access. Price Sensitivity They compare prices and seek value for money. Time Constraints Consumers make quick decisions due to busy schedules. Brand Loyalty Consumers may stick to familiar brands, especially for staples.

5. Distribution Strategies and Retail Locations Convenience Stores Small, accessible locations, open long hours. Supermarkets Larger stores offering wide selections, often with bulk options. Vending Machines Automated dispensing of goods, often in public locations. Online Retailers E-commerce platforms offering delivery or pick-up options.

6. Pricing and Marketing Considerations 1 Competitive Pricing Maintaining competitive prices is crucial for attracting customers. 2 Promotions & Discounts Promotions and discounts are effective for driving impulse purchases. 3 Targeted Advertising Reach specific consumers through online advertising and in-store displays. 4 Product Placement Strategic placement of goods encourages impulse purchases.

7. Impact of E-commerce on Convenience Goods Increased Accessibility Consumers can purchase goods anytime, anywhere. Expanded Selection Online retailers offer wider variety and niche products. Convenience of Delivery Goods are delivered directly to consumers, saving time and effort.

8. Future Trends and Industry Outlook 1 Personalized Experiences Data-driven recommendations and tailored offers. 2 Sustainable Practices Focus on eco-friendly packaging and responsible sourcing. 3 Integration of Technology Smart shopping apps and contactless payment options.