Content Type:

Glossary

Durable Goods Definition

Tangible products that can be stored or inventoried, that have an average life of at least three years and are generally not destroyed by use. Also known as hard goods.

Durable goods are tangible products like appliances, electronics, furniture and automobiles that typically are useful for at least three years. Also known as hard goods, they can be stored or inventoried, have a relatively long lifespan, are not consumed quickly, are intended to be used repeatedly over time and are generally not destroyed by use. These goods often have a higher purchase value and are considered a significant investment for consumers, making them crucial in economies and consumer lifestyles.

Who relies on durable goods?

Manufacturers, marketing professionals, retailers, economists and policymakers are in-tune with durable good data because of the importance of those products to the economy. Research about the consumption of durable goods provides consumer preferences, buying behavior and market trends. For instance, to be successful, manufacturers must understand consumer preferences and trends to design and produce products that align with market demands. Marketing professionals must develop effective advertising strategies and messaging, and retailers must understand consumer behavior to optimize inventory and sales strategies. Policymakers use data on durable goods to develop public policy and set budgets.

Why should I care about durable goods?

Understanding research about durable goods allows marketing professionals and businesses to assess the value, quality and long-term benefits of hard goods. For businesses, durable goods research provides insights to guide product development, marketing campaigns and overall business strategies. Investors and economists look at these insights as evidence of broader economic trends. Accurate Durable Goods research contributes to the overall health of markets and economies.