There are certain products that we all need, they are products of mass consumption in society. This causes high competition from companies that are dedicated to this sector, which try to differentiate themselves through alternatives to get more customers.
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In a changing environment in which we find ourselves, this sector, more than any other, must adapt to these changes, take advantage of them and turn threats into opportunities. In this article we will talk about what mass consumer products are and what are the best practices that companies in this sector must implement to achieve success.
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What are mass consumer products?
Mass consumer products are defined as high demand products. They are those products required by all strata of society, which motivates competition between companies in this sector for attracting customers, trying to differentiate themselves by offering alternatives, prices or aggregates.
Among the main characteristics of these products we could highlight the following:
- Immediate consumption : these products do not usually last long in the home, they are manufactured with the idea that they are consumed in a short period of time.
- Everyday purchase : being essential products that are consumed quickly, they are acquired by consumers on a daily basis.
- Easy to find : you can find mass consumer products in different places without much difficulty since there are countless companies dedicated to this sector.
- Reduced price : the demand for these products varies depending on the prices. As we have mentioned, all strata of society consume them in such a way that they have a very affordable price.
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Best practices for mass consumption
The mass consumer sectors are facing unprecedented challenges that they have to face. Here are some of the best practices you can implement to get it done:
One of the most common practices lately among mass consumer companies is to get rid of those brands that do not align with the core of their business, that is, those that generate value and that will provide a beneficial competitive advantage for the company.
A clear example of this practice is found in the company Alicorp, the largest consumer goods company in Peru that operates throughout the American continent. This company sold everything in different lines of business, even including an omega 3 production plant. However, it reversed this trend and ditched its Lamborgini ice cream lines and the Mimaskot and Nutrican pet foods. This allowed them to sharpen the process. Like Alicorp, we found other brands that during 2014 rebuilt their portfolio of brands, shedding those that did not add value. This is the case of Nestlé, Procter & Gamble and Unilever, which go from producing “everything” to specializing.
In a market where resource limitations are increasing, the digital medium becomes the best ally for interacting with consumers. Online sales of mass products have increased considerably . A successful example of digitization in consumer products could be the drive system that was developed in France. This consisted of a chain of self-services with which the customer buys products online and then picks them up at the closest point of sale, halfway between eCommerce and traditional commerce.
To achieve success in this process we give you some tips:
- Fun shopping experience : it is essential to attract the attention of the buyer when buying mass consumer products.
- Being able to save the shopping list : for online shoppers it is very useful, especially in the case of the purchase of mass consumer products, to be able to save their shopping list since they often purchase the same products repeatedly. In this way, the consumer saves time by increasing Internet spending and brand loyalty.
- Detailed information : to increase consumer confidence in our products, thus avoiding the typical confidence of online shopping, it is important to include detailed information on the products on offer. Including images of them is also very useful.
- Being able to choose different types of payment : to facilitate the customer the last phase of the purchase avoiding the abandonment of the cart, you can choose to give customers the choice of different types of payment. Among the most common we find: virtual POS, integrators such as PayPal or SafetyPay, user online bank transfer, virtual wallets such as Google Wallet, mobile payment or offline payments.
- Automatic confirmation processing : to achieve the perfect checkout and turn the user into a regular customer instead of making a one-time sale. In online shopping, the sale does not end until the customer has the product in his hands and there is a period of time in which he has neither the money nor the product since he pays in advance. To make the customer feel safe, it is very useful to receive a purchase confirmation that includes an identifier, a summary of the purchase, the payment method and the amount paid as well as the billing information.
- Fast delivery and possibility of follow-up: it is important that the user has the possibility of knowing in which part of the process his order is located, for example: in preparation, sent and delivered, this generates security.
As we have been saying, all sectors are experiencing changes and adapting to them to survive in the market. The mass consumer sector was not going to be less considering the enormous effect it has on society. These are changes derived from both new technologies and the rise of the Internet, as well as changes in consumer behavior and their preferences. Brands are adapting, thus creating a competitive advantage and radical and disruptive business improvements.
This environment of constant change means that what is an advantage today, tomorrow will be an essential requirement to survive in the market.
Do not be left behind! If you have a business and you want to adapt it to the current environment by selling and creating unique products, do not hesitate to consult the Postgraduate in Digital Product Management that will help you make the change that your organization needs to face new advances and transform your company.
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