What Companies Are in the Consumer Durables Field?

Consumer durables are goods with staying power. The U.S. Department of Commerce defines them as lasting for three years or more, unlike nondurable goods, which have a shorter lifespan. Examples of consumer durable goods include bicycles, books, household goods (home appliances, consumer electronics, furniture, tools, etc.), motor vehicles and commodities such as these. In this article, we will take a look at some of the companies that make up the consumer durables field.

Definition of Consumer Durables

Consumer durables are items that are purchased by consumers and used repeatedly or continuously over a prolonged period. These items usually have an income elasticity of demand greater than one and tend to be luxury goods. They can range from small items such as books and bicycles to large items such as motor vehicles and home appliances.

Types of Consumer Durable Goods

The types of consumer durable goods can vary greatly depending on what is being purchased. Some examples include:

• Home Appliances: Refrigerators, washing machines, dishwashers, ovens/stoves
• Electronics: Televisions, computers/laptops/tablets, cell phones
• Furniture: Sofas/couches/chairs/ottomans
• Motor Vehicles: Cars/trucks/SUVs/vans
• Tools: Power tools/hand tools
• Bicycles
• Books
• Toys

Companies in the Consumer Durables Field

There are many companies in the consumer durables field that manufacture and sell these products to consumers around the world. Some examples include:

• Samsung – This South Korean company is known for its electronics such as televisions and cell phones but also manufactures home appliances like refrigerators and washing machines.
• Apple – This American company is well-known for its electronics such as laptops and iPhones but also sells accessories like headphones and speakers.
• Ford – This American car manufacturer produces cars, trucks, SUVs and vans for consumers around the world.
• Whirlpool – This American company manufactures home appliances like washers and dryers as well as kitchen appliances like microwaves and ovens/stoves.

Benefits of Purchasing Consumer Durable Goods

There are many benefits to purchasing consumer durable goods including:

1. Quality – When you purchase a durable good you know that it is made with quality materials that will last you for years to come so you don’t have to worry about replacing it anytime soon.
2. Cost Savings – By purchasing a durable good instead of having to replace it often you can save money in the long run since you won’t have to keep buying new ones every few years or months depending on what it is you’re buying.
3. Convenience – Having access to durable goods means that you don’t have to worry about constantly running out or having to go out searching for replacements when something breaks down or wears out quickly because they can last much longer than non-durable products do.
4. Environmentally Friendly – Many durable goods are made with materials that are recyclable or biodegradable so they don’t end up in landfills where they could potentially harm the environment if not disposed of properly.

Conclusion

In conclusion many companies in the consumer durables field produce quality products that can last consumers for years without needing replacement which can save them money in the long run while also being environmentally friendly due to their recyclable materials used in production processes. Purchasing these types of products can be beneficial both financially and environmentally so it is important to consider them when making any major purchases!

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