Fast Moving Electric (Energised) Goods FMEG – The Modern Life Game Changer

Authored by Amit Mathur, Senior Vice President, Sales and Marketing, Finolex Cable

As clichéd as it sounds, the pandemic has changed our lives in ways that we could not have imagined. Everything around us underwent a drastic revolution altering our perspective to life and the way we live it. Unfortunately, there is no escape to this reality and no alternative other than to cope with the situation. The rapid transformation has pushed us to adapt new means and the digital normal is one part of it. It compelled every generation and section of society to embrace technology, while for some it came with a smile for others with a pinch of salt. It is believed that the pandemic has propelled this new age tech adoption. The complex situation of converting home to office with restrictions on house help gave birth to a slew of innovative, time saving and convenient consumer appliances.

It is an interesting debate if the fast pace of life or the standard of living pushed for dual income homes or progressive working women compelled consumer appliance companies to design products which support their lifestyle needs. This scenario saw a spike in demand for  home appliances such as new age mops, state-of-the-art vacuum cleaners and energy saving dishwashers which came to the rescue at the end of the long WFH day.

A fascinating transition in this Fast-Moving Electric (Energized) Goods is the evolution of products to the needs of this new age. A tech enabled house would prefer a vacuum cleaner over a broom. Archaic filament bulbs arenow being replaced by inverter LED bulbs. A fan, which was earlier operated by a switch and a knob, now has a remote control or a mobile that can adjust its speed.Some households now just need to voice what they need, and an Alexa will do the job. An air-conditioner now works on Wi-fi and can be operated even when a person is not physically present in the house. Such is the progress this category has made in the last decade.

The twenty-first century consumer has a very practical outlook to life. He or she opts for peace of mind in the present rather than worrying a great deal about the long-drawn future. The new-age customer looks for options to make life easy going and comfortable. The current generation is open to investing in smart appliances. They look for options which provide ease-of-living, are low on maintenance and consumes minimum energy. It is due to this outlook that FMEG companies have started investing in research to come up with innovative problem-solving products that are getting accepted by the market. The Indian consumer, whose living standard is improving and who has had an exposure to the western world, remains the focus audience for Indian electric good manufacturers.

Consumers are now conscious about Made in India goods that come with international design and appeal, superior quality, and aesthetics. These traits of New India push FMEG companies to create homegrown products that match international standards. This huge demand has attracted multiple manufactures with differentiated product offerings. Companies now plan their product upgrades on an annual basis which keeps a modern buyer on a constant lookout to get the latest feature packed product.

While consumers in metros and mini metros increasingly enjoy a lifestyle which resembles the west, companies are now moving focus to target the Tier 3 and 4 markets. As the Government plans to invest significantly in the interiors, it will be these FMEG manufactures who will be front runners to bridge the urban and rural divide.