Consumer staples is a sector of the economy that includes companies that are supposedly part of a consumers needed monthly purchases. Also included here are retailers that specialize in selling such items including grocers and drug stores. The idea is that even if the economy falters, consumers will still need cleaning supplies, aspiring and the like. Because of this consumer staples stocks are supposed to outperform in periods where the economy shrinks.
The largest companies in the world in this sector are Procter and Gamble, Nestle and WalMart.