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
Live stream selling is a newer form of e-commerce that is changing the way consumers around the globe shop. This new way of shopping allows businesses of any size to demonstrate and display their products to a much larger audience than traditional shopping. As restrictions continue because of the pandemic, many consumers are turning to live stream selling as a way to stay connected and receive a more authentic way of shopping that can be done from anywhere. Consumers have continued to look for an interactive and personalized experience throughout the pandemic. Businesses can provide this experience through live stream services such as TaoBao or Tmall, and even Instagram, Facebook, or Amazon.
The exploding cannabis industry has seen the most growth in the last year as ever before and is looking for an even better 2021 with Mexico set to legalize sometime in the coming months. Assuming this does happen and Mexico follows the lead of some U.S. states, Canada, and Uruguay, they will then become the world’s largest country to legalize Cannabis with a population of 121 million. This large input of new customers will need suppliers meaning that many Cannabis companies across the U.S. and Latin America are looking to seek substantial growth when the bill officially passes.
- SelectUSA (Date Accessed: 6/1/2017)