Durable goods are products that have an extended lifespan and are intended to be used over a long period of time, typically more than three years. These goods are tangible items that are not consumed or used up quickly. They are designed to withstand repeated use and have a relatively low rate of wear and tear compared to non-durable goods.
Examples of durable goods include:
- Appliances: Refrigerators, washing machines, dishwashers, ovens, and other household appliances.
- Electronics: Televisions, computers, smartphones, cameras, audio equipment, and video game consoles.
- Furniture: Sofas, tables, chairs, beds, desks, and cabinets.
- Vehicles: Cars, motorcycles, trucks, and recreational vehicles.
- Tools and machinery: Power tools, hand tools, gardening equipment, and industrial machinery.
- Sports equipment: Bicycles, golf clubs, tennis rackets, and exercise machines.
- Home improvement products: Flooring, windows, doors, roofing materials, and HVAC systems.
- Jewelry and watches: Gold, silver, diamond jewelry, and luxury watches.
- Musical instruments: Pianos, guitars, drums, violins, and brass instruments.
- Toys and games: Dolls, action figures, board games, and puzzles.
Durable goods are typically more expensive than non-durable goods due to their longer lifespan and higher quality. Consumers often make considered purchasing decisions for durable goods because they are expected to provide utility and functionality over an extended period of time.