FMCG is Fast Moving Consumer Goods, stuff you find on the shelves of your local supermarket. Spinneys in Jordan apparently had problems in breaking even, that is after turning over $28 million annually. One of the problems it faced was that they didn’t stock enough goods, at the right time. Meaning that they needed more money and also needed to work on morales of staff and suppliers.
Imtiaz Hydari thought that he could fix the problems. Not only did he do that very quickly, but he’s already projecting sales of over $70 million in 2008!
This is a good article which scratches the surface of retail marketing, but is deep enough for us to understand the dynamics of the fast moving consumer goods economics.
Comments
A quick lesson in retail sales
FMGC is Fast Moving Consumer Goods SHOULD read[b] FMCG[/b]is Fast Moving Consumer Goods
Re: A quick lesson in retail sales
braindead moment. it’s corrected now, thanks for pointing it out.
A quick lesson in retail sales
Reminds me of some of the best advice I ever got about business. [b]”If you take care of business, business will take care of itself.”[/b]
Clearly somebody wasn’t taking care of business at Spinneys Jordan. Thank goodness someone is now.
A quick lesson in retail sales
I’m surprised to read this story. Spinneys in Oman has gone the exact opposite direction. Following the enterance of Carrefour into the local market Spinneys went into a massive expansion drive and bought out most of the local competitors then went into a rebranding program where they kept the Spinneys logo but adopted the name of one of the Omani chains which they had bought, Alfair. But then quite strangely they went and sold half the company to the Dubai company that operates Spinneys in the UAE and gave them full management responsibility for the company. We thought that this would be a good thing. Anyone who’s been to a Spinneys supermarket in Dubai would attest how good they are- though a bit pricey. Unfortunately, ever since the management switch to the Dubai people things have been going from worse to worst. Their inventory management is gone to shit, you can never buy the same item for two weeks in a row and the choices available on the shelves keep shrinking. To make up for this the management keeps reducing the grocery shelf area in their shops by renting parts of the shops. Soon every single one of their supermarkets will have an HSBC, Damas, pharmacy, dry clean laundry, and god knows what else. It absolutely sucks.
Muscati