Consumer Goods

Consumer goods are produces or manufacture goods to satisfy the specific needs or wants of the customers. These goods are the end products of a production line. The consumer goods can be either tangible or intangible. Consumer goods can directly be consumed by the customers and can be durable or non durable.

Types
•    Durable Consumer Goods:-
Durable consumer goods are products with a life expectancy of more than 3 years and can be maintained and maintained throughout the life of the service. These goods are usually of high value, people will delay their maintenance costs, more dependent on the product life.
Example :- Refrigerator, Car, Mobile phones, Television.

•    Non-Durable Consumer Goods:-
These are the goods which has a short lifespan on an average less than 3 years. These products need to be consumed within their lifetime beyond which they will lose their value. Non-durable good also changes with time as the lifestyle of people change or fashion changes. People previously used to have lot of junk food now with increase in obesity and other diseases people have become health conscious.
Example:- Shoes, Clothes, beverages, food

•    Service Goods:-
These goods are intangible and can only be felt only their experience is lived through. These goods are produced and consumed simultaneously.
Example:- Spa, Haircut, Repairs

Fast moving consumer goods which now have become a complete industry have short shelf life products.
 
Advantage
Modern technology helps people get goods at an affordable rate, which leads to more food consumption. People can live a good life, living standards improved significantly. Luxury goods have been a luxury goods has become a necessity. Such as cars, mobile phones, once known as luxury goods AC has now become a normal cargo.
Disadvantage
With increase in the production of goods the no. of factories has increased and this has created more pollution. The deforestation has become a global issue because of industrial expansion.