Consumer Goods

Consumer goods are products bought for consumption by the average consumer. Also called final goods, consumer goods are the end result of production and manufacturing. Clothing, food products, and dishwashers are examples of common consumer goods.

Types of Consumer Goods

• Durable goods are consumer goods that have a life span of over three years and are used repeatedly over time. Bicycles and refrigerators are considered durable goods.

• Nondurable goods are consumed in less than three years, are commonly used one time and include packaged food and drinks or laundry detergent.

• Service goods include items like auto repairs and haircuts that are intangible consumer goods.