Definition - What does Consumer Goods mean?
Consumer goods are products that are purchased to fulfill household or personal needs. These goods are typically purchased directly from retail stores. In the context of the law, whether or not a company sells consumer goods can determine how it is classified and regulated. Different laws apply to different types of companies.
Justipedia explains Consumer Goods
Consumer goods are an alternative to capital goods. Capital goods are not sold directly to consumers, but instead are things that a company will buy to help itself increase further production. For example, property and equipment are capital goods.
Examples of consumer goods include groceries, clothing, furniture, etc. The average household in America will have a number of consumer goods. A significant percentage of a working person's income is commonly put toward consumer goods. However, this percentage can vary greatly from person to person.
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