The Different Types of Consumer Goods

An item is recognized as a consumer good if it is a real product, which is anything you can feel, hear, smell, see, or taste. In some instances there are different viewpoints on whether or not some goods regarded as real or intangible.

Consumer goods are the products that are sold in stores or online to fulfill the wants and needs of people; the end-user.

Consumer goods are available in a wide selection of products which can include:

Electronic Devices
Utensils
Apparel
Food
Home Products
Paper
Types of Consumer Goods

Below are the six main types of consumer goods and what they involve. You should know all about the goods you are buying and selling in order to succeed in the liquidation business.

Type #1: Staple Goods These are products that are purchased routinely, just about every time you go to the store. Bread, milk, and several personal care products can be considered staple goods.

Type #2: Convenience Items Products that are readily available to customers, without any effort by the consumer; such as assembling the product, are considered convenience products.

Typically, convenience goods are available in the category of items like cigarettes, fast foods, and frozen dinners. The products are sold by wholesalers in order to make them available to the consumers in a larger quantities.

Because of the high purchase quantity, cost for each item is usually low and consumers often see no use in further research since more effort means less savings for the sake of convenience.

From the seller’s viewpoint, the low selling price of convenience goods ensures that profit for each unit purchased is low. As a result, vendors will make an effort to spread these items in bulk throughout as many stores as they possibly can.

Type #3: Shopping Merchandise These include goods shoppers buy and take in on a less regular basis when compared with convenience items. People are ready to take more time finding these types of items considering they are fairly more costly compared to convenience items.

Since people buy less often and are ready to shop around to find these items, the target audience is a lot smaller compared to that of convenience products. As a result, vendors frequently tend to be pickier when deciding on distribution shops to market their shopping merchandise.

Type #4: Unsought Goods and Services Services or goods, such as insurance, that can be found in the marketplace though are often ignored by customers are referred to as unsought goods or services.

These kinds of goods and services are designed to sell to customers through the use of advertising with promotions like a purchase bonus such as discount rates offered only to Internet buyers. These marketing tactics often cause buyers to purchase impulsively.

Type #5: Impulse Goods Impulse goods are items a buyer looks for because something unexpected occurs; such a wife getting pregnant, as well as well-aimed advertising at those who tend to purchase products without any prior planning. Usually the decision to buy these good is based on convenience or pleasure.

Type #6: Specialized Goods These are items tend to have a high price compared to shopping and convenience goods. The length of time a specialized good can be used might take as long as shopping goods, however people are a lot more picky when it comes to specialized goods.

The truth is, most of the time customers know ahead of time which item they have a preference for and will not shop in order to compare, however they will look to find out which retailers sells that specific product at the lowest price.

By Clifford Woods

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Retailer Agreements and Their Importance For Goods and Services Distribution

A retailer is a business or firm that is engaged in offering services or goods directly to customers, or consumers. Retailers are usually concerned with selling some sort of merchandise. Such businesses generally sell individual or small groups of products to a large number of customers. This retail industry is a huge piece of the United States economy. Naturally, it is important to execute a binding retailer agreement when determining the rights of a particular buyer who is a retailer and a seller who is supplying that retailer.

A general product retailer agreement will cover a number of issues. First it will state specifics such as the names of the parties involved and addresses as well as the dates that the agreement will be valid. It will then specify exactly what products are represented in the agreement. The price and quantity will be specified as well, along with the responsibility for taxes. The details of what payment will be made, along with how and when it will be rendered will also be set forth in the retailer agreement. The issue of shipping will be addressed, as will any return policy. There may be notices and product modifications to be addressed. In addition, any warranty and liability will be set forth. Any miscellaneous issues will also be stated in writing in the agreement. Issues of Force Majeure as well as disputes should also be covered in the agreement. Finally, both parties will sign and date the document.

Retailers often find themselves in a very competitive business, and many new retail businesses do not last long. This is one of the many reasons to cover all of your bases with a detailed retailer agreement. There are a number of different types of retailers that may be involved in a retailer agreement.

A retail business can be owned independently or as part of a chain, which is simply two or more stores with activities that are decided and synchronized by one management group. Most retail businesses will fall easily into a type or category, but more and more businesses are merging the boundaries in an effort to appeal to more consumers.

Department stores, supermarkets, and specialty stores are some of the most common types of retailers. Then there are so-called discount stores. There are also mail order and such retailers who do not actually operate a “store.” Since the internet market is expanding so quickly, this type of retailer is becoming more and more common.

It is important to keep in mind that no matter what type of retailer you are or what kind of retailer you are doing business with, the best way to protect yourself is through clearly spelled out documentation. This is why a retailer agreement is so essential. You can consult an attorney to have this contract created, or you can search online to find one of the many online companies that provide legal documents such as retailer agreements ready-made in a fill in the blank format.

Mark A. Warner is a Retailer Agreement Research Analyst

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