Consumer Goods

Consumer goods are the final product output by manufacturing companies for retail to the general public in response to the perception of the needs and wants of the consumer. Consumer goods are the tangible products available for purchase by customers. As such, consumer goods are often referred to as “final goods”. Only newly completely consumer goods are considered to be in this category – resale of these goods through any mean by which they have already been used or purchased are not taken into account economically speaking. Examples of consumer goods include jewelry, cars, food items, and/or apparel.

Consumer goods are broken down into three sub-groups: durable consumer goods, non-durable consumer goods, and consumer services. Durable goods include items that typically last over a significant time span, and as such they often have a higher price point due to their longevity and process of production for these goods. Furniture, cars, modular homes, and/or large household appliances are all examples of possible durable consumer goods. Non-durable consumer goods are produced and subsequently purchased for the intended purpose of being used immediately or very soon in the future. Non-durable goods typically have a longevity that ranges from mere minutes up to three years. Examples of non-durable consumer goods include gasoline, food items, certain apparel items, and/or beverages. Consumer services are in-tangible actions or items that are often created and used at the same time. Consumer services may include landscaping, hair salon services, or a variety of repair services.