Factors influencing the Bangladeshi consumers’ purchase decision regarding fast moving consumer goods: an exploratory study

Abstract

Fast Moving Consumer Goods (FMCG) sector is one of the largest sectors in the economy of Bangladesh. In the last few years, the FMCG industry in Bangladesh has experienced a dramatic growth; both qualitative and quantitative improvements have taken place in the consumer durables segment. FMCG in marketing means convenient and low involvement products like, salt, flours, pens, chocolates, etc. In recent years, the FMCG industry worldwide has experienced a difficult market condition. In some categories, formerly popular brands have either been deleted or squeezed between the category leaders and low-cost competitors. The study has identified eight primary factors that influence consumers’ purchase decision of FMCG products in Bangladesh. These factors are sales promotion, unavailability of brand, time constraint, in-store TVC, variety-seeking behavior, product features, end of aisle display and product convenience. This study recommends focusing on three important factors, i.e., sales promotion, time constraints and unavailability of brand to smoothen the progress of the FMCG industry in Bangladesh. The FMCG industry will find better development opportunities, if the findings of this study are used as an input in its strategic decision making.