BREAKING DOWN 'Consumer Goods'
There are three main types of consumer goods: durable goods, nondurable goods and services. Durable goods are consumer goods that have a long life span and are used over time. The life span is typically three years or more. Examples include bicycles and refrigerators. Nondurable goods are consumed in less than three years and have short life spans. Examples include food and drinks. Services include repairs and haircuts.