Consumer Product and Retail; Is How Producers of Goods and Services Deliver Their Products to the Consumer

 

Consumer Product and Retail

Consumer goods are products bought for consumption by the consumer. Consumer goods are the end result of production and manufacturing. Food, clothing, and jewelry are some common all examples of consumer goods. Retail is a channel where consumer goods are sold. Consumer companies involve business-to-consumer (B2C) experience where customers purchase finished goods or services. Usually, consumer goods are segmented into consumer staples (or consumer non-cyclical) and consumer discretionary (consumer cyclical).

The Global Consumer Products and Retail Market is estimated to be valued at US$ 18.18 Trillion in 2021 and is expected to exhibit a CAGR of 7.5 % over the forecast period (2021-2028).

Consumer staples are items where pricing and volume sold do not change very much with the economy (such as toothpaste, detergent, Coca-Cola, groceries) whereas consumer discretionary items do (such as luxury bags, sneakers, vacations). Retail refers to the activity of selling goods or services directly to consumers or end-users. Retail consumer means those who buy or lease consumer goods. Retail consumer shall not include manufacturers, wholesalers, or others who purchase or lease consumer goods for resale.

The difference between retailers and wholesalers is that retailers sell directly to the consumers, wholesalers sell their goods to other businesses (including retailers). The retail industry is just one portion of the entire consumer packaged goods (CPG) industry. Retail focuses specifically on the sale of the product to its end user (people). Consumer goods can be sold through stores, kiosks, or even by mail or the Internet. Retail businesses can include grocery, drug, department and convenient stores. Retail is the sale of goods and services to consumers.

Goods and services flow from a retailer or a distribution supplier to final customers in a supply chain. Retailers serve as a conduit between a producer and the end customer. It is responsible for matching individual demands of consumer with supplies of all the manufacturers. Germany is the largest consumer market in Europe. The typical German consumer is as equally receptive to discount retailers as to establish brand names across different product segments, according to the Germany Trade & Invest, agency of the Federal Republic of Germany.