Consumer goods include household appliances, cleaning products, food, furniture and electronics. The number of consumer goods is potentially infinite and growing, as any good that a person buys for household use or consumption qualifies. Consumer goods are typically categorized as durable or nondurable. Consumer services, which are intangible, are sometimes included under the umbrella of consumer goods.Continue Reading
Durable consumer goods, including appliances and furniture, are those that are intended to last for an extended period. People typically expect dishwashers, refrigerators and couches to last for at least several years. In contrast, nondurable goods have a more limited consumption timeframe, ranging from just moments up to around three years. Food and beverages are among the fastest-consumed goods. In a restaurant, for instance, consumers buy food and eat it within minutes. Gasoline is another product that is consumed quickly. Some nondurable goods last a bit longer. Clothes are considered nondurable goods, but people often wear them for extended periods.
Consumer services are intangible solutions that consumers buy. Homeowners sometimes pay for lawncare services rather than fertilizing, mowing and trimming their own yards. Car repairs and haircare are other popular consumer services. People usually pay for consumer services to save time or to get expert help.Learn more about Economics