Product Code Database
In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use. Items like could be considered perfectly durable goods because they should theoretically never wear out. Highly durable goods such as or usually continue to be useful for several years of use, so durable goods are typically characterized by long periods between successive purchases.
Nondurable goods or soft goods (consumables) are the opposite of durable goods. They may be defined either as goods that are immediately consumed in one use or ones that have a lifespan of less than three years. Examples of nondurable goods include fast-moving consumer goods such as food, cosmetics, cleaning products, medication, clothing, packaging and fuel. While durable goods can usually be rented as well as bought, nondurable goods generally are not rented.
Durable goods are typically replaced due to obsolescence rather than breakdown.
Durability, as a characteristic relating to the quality of goods that can be demanded by consumers, was not clear until an amendment of the law in 1994 relating to the quality standards for supplied goods.
The condition of the economy is one of the biggest factors as well as the philosophy of money. Consumers want to use their money effectively and essentially get what they paid for, and in the best-case scenario, get more than what they paid for. In the pursuit of durable goods through the lifespans of the products and consumption of those products money and price dictate two of the biggest factors other than supply and demand. “At some point, people will realize that they can trade more easily if they use some intermediate good—money. This intermediate good should ideally be easy to handle, store and transport (function i). It should be easy to measure and divide to facilitate calculations (function ii). And it should be difficult to destroy so that it lasts over time (function iii)” (de Bruin 2023). Durable good falls into this category since ease of commerce and convenience are key factors into making it a good product to buy.
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