Durable and Non-durables Goods
Durable Goods are the goods that are purchased for long-term use, and they are expected to last for more than three years. They refer to the long-term asset that can provide long-term value to the consumer. Consumers will purchase these kinds of goods when they feel confident over the quality and usability. They will use the goods for many years, so they must think carefully before any purchase.
Type of Durable Goods
Consumer Durable Goods
Consumer durable goods are the goods that individuals or households purchase for their daily use. These goods expect to last for more than three years. In our daily life, we need to use some goods and they last for a long term. They include furniture, computer equipment, tool & machinery, and other software.
Business Durable Goods
These goods refer to the long term fixe asset for the business which lasts more than three years. Not different from the household, business needs to purchase some goods to support their operation. Some goods are last for long term such as plant & machinery, vehicle, truck, furniture and so on.
Consumer Non-durable Goods
Consumer nondurable goods are the goods that are purchase for immediate consumption and their life spend less than three years. It also called consumable goods. They have included foods, beverages, cosmetics, fuel, cloth, and so on. The goods will be consumed and not last for long, however, the consumers need them for daily use.