Consumer Products: Introduction
Companies in this segment manufacture toiletries and grooming products, as well as products such as soap and detergent.
Home and Office
Companies in this segment manufacture household, office, and institutional furniture.
Luxury and Entertainment
Companies in this segment manufacture jewelry from precious metals, gemstones, and various other materials. Companies also manufacture electronic and non-electronic toys and games.
The Consumer Products industry is Concentrated. The production in this industry is dominated by a many large firms that are capable of shaping the industry’s direction and price levels.
Primary Demand Drivers
- Population growth
- Consumer preferences
- Product innovation
- Effective sales and marketing
- Efficient operations
From the Blog
The world population grows at a staggering rate each decade, and it is only continuing to increase. Currently, our world population is at 7 billion, but by 2050 it is estimated that the population will reach 9 billion. In order to fit the needs of the rapidly growing population, there needs to be a major increase in food production—approximately by 70%. This raises the question of how? How can the population be fed healthy, wholesome diets without harming the environment? Different countries and regions are trying to come up with solutions to fit the needs of the growing population.
Online shopping, also known as e-commerce, is a wildly popular way for consumers to access products these days. It’s convenient, simple, and can be done with a quick click from home. Companies like Amazon even offer free and fast shipping to their members. But what does online shopping look like from a global standpoint? First of all, it’s a growing industry, with sales worldwide expected to more than double between 2018 and 2023. Let’s look at the e-commerce industry in the three regions around the world.
- SelectUSA (Date Accessed: 6/1/2017)