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Durable Goods - Explained

What is a Durable Good?

Written by Jason Gordon

Updated at March 27th, 2023

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What are Durable Goods?

The goods which are not consumed or destroyed by use and last for a long time are called durable goods. Home appliances, types of machinery, cars all fall under the category of durable goods. Generally, consumer goods which last for 3 or more years are considered to be durable goods. Foods, cosmetics, toiletries, cigarettes, beverages are all non-durable goods as those that perish with use. Durables, on the other hand, have an extended product life and you can use it for long without consuming the whole thing. Durable goods are not required to be purchased as frequently as the nondurables. It is better to spend the income in buying durable, capital, and investment goods, as they retain their economic value for longer. Increased expenditure on durables indicates sustainable economic growth. The wealth of an individual is preserved by spending more on durables.


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