NBCC urges reorganization of Nigeria’s FMCG sector
The Nigerian-British Chamber of Commerce (NBCC) has called for the reorganization and realignment of the Nigerian fast moving consumer goods sector.
According to Group Managing Director of UAC Foods, Fola Aiyesimoju, If you have the right people, the right culture, the right structure in place, you need to grow an FMCG business.
Aiyesimoju, who emphasised the need for FMCG businesses to prioritise quality and availability of products ahead of fanciful advertising and publicity, said: “Most people believe that building the brand is how fancy your adverts are, and so you see people spending incredible amounts of money on celebrities and catchy adverts, but we found that, by far, the most important thing for brand-building is consistent quality and availability. Can you get your products out consistently at a good quality? As an FMCG company, you write an exam every single day.
“Everyday people buy your product, and every single day, you must pass the test. Is the quality the same or better than yesterday? It is incredibly difficult to achieve this. Many FMCG companies get tempted to go to the easier side of above-the-line marketing versus getting this right. If you succeed in getting the same shape, taste of the product, the second thing now becomes, is it available? One thing consumers don’t forgive you for is buying a product on Monday and Tuesday and then running out of stock on Wednesday. So, consistent quality and availability are the holy grail of FMCG.”
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