There has been a lot of hype about the non-durable goods sector as we are now entering a period of economic stagnation, so let’s have a look at the industry, its growth prospects, and how they compare with other industries.
Are you searching for Is Consumer Non-Durables A Good Career Path? In this article, you will get all the knowledge about it.
There is no doubt that the non-durable goods market is growing rapidly. This has made it an attractive option for many. The opportunity to earn more than $100,000 a year seems like a dream come true for some. However, the average non-durable goods worker earns around $30,000 a year. To be fair, this figure only takes into account workers who sell in retail stores.
There are also many people who sell online or through catalogs. If you are looking for a job as a non-durable goods seller, there are a number of factors you need to take into consideration before making a decision.
Nondurable goods are a specific type of consumer good whose main characteristic is that it has a high replacement requirement for the customer.
Like other consumer goods, non-durable goods are focused on meeting the needs of the end consumer – people like you, your family, friends, and co-workers, who every day need to eat, drink, get around, get dressed, have fun and, for that, consume.
While the category of consumer non-durables is experiencing growth, it is not a sure thing. To get a better sense of whether or not this is the right career path for you, let’s look at three reasons why consumer non-durables might be a great place to go right now.
Is Consumer Durables A good Career Path
Consumer goods (or household consumption goods) are goods used by individuals or families. Is Consumer Durables A good Career Path? The number of consumer goods that are sold in each country reflects the population’s standard of living and also makes it possible to assess the tastes and characteristics of the society in question.
They are, therefore, goods produced by man and intended for people’s consumption (unlike intermediate goods that are used in the production process to be transformed into final goods or capital goods that are machines used by industries).
Consumer goods are divided into durable, semi-durable, and non-durable. Non-durable consumer goods are those made to be consumed immediately (ice cream, chocolate, etc.). Durable consumer goods are those that can be used over and over for long periods (a car, a washing machine, etc.). Semi-durables can be considered shoes, or clothes, which wear out little by little.
Non-durable goods specifically encompass those products that need to be replaced routinely, because their frequency of consumption is very high in most cases – sometimes even daily.
You know that coffee you drink every day when you wake up? Or is the rice always present in your lunch or dinner? The same can be said of the 2 liters of water consumed on a daily basis, that chocolate bar that lasts a short time in your pantry, or even certain vices, such as the cigarette that some people smoke every day.
If you think about it, none of these items are purchased with the intention of lasting, because they are quickly consumed. Even those products that spend days abandoned in your pantry, until the expiration date approaches and you dare to create a recipe with them when properly consumed, demand replacement.
You can forget about that olive in the back of the cupboard, but if you want to prepare meals with this ingredient continuously, you have to buy more. They are not reusable.
The same does not happen with products from other categories: semi-durable consumer goods, such as clothes, do not need to be changed every day. If you want to wear the same shirt tomorrow, just put it on for washing in the machine and put it back on the next day. The same is true of consumer durables: once you buy a car, you don’t have to buy another one tomorrow. Just refuel and go.
In any case, to produce any type of consumer good, it is first necessary to unite production and capital goods throughout the entire production chain. Characterized as raw materials and tools used in production, these goods work together to transform a primary item into something we can consume to satisfy our everyday needs.
Is Consumer Non-durables A Good Career Path for Students?
The career plan consists of a set of steps and resources that serve to define the professional path to be followed. In other words, it works like a map, considering each person’s career goals and the path to the goals.
The good news is that it is not only done by companies, but for those who are already in the job market.
Higher education institutions can also create a career path for their students. Thus, future professionals know which internships to seek, which skills to develop, and how to reach interests more quickly.
Is Consumer Non-durables A Good Career Path For Me?
The data presented demonstrate how the coronavirus has impacted organizations and amplified difficulties that were already existing among professionals and academics.
Due to this, the development of a career plan for students by HEIs becomes even more important in student education. After all, it helps define career paths and helps create possibilities.
The creation of the plan, therefore, not only helps the student or graduate to enter the labor market but also to position themselves in the area of interest. This increases the chances of becoming differentiated professionals and less susceptible to unemployment, for example.
Economics Of Consumer Non-durables And Durables Goods
In June 2013, industrial production reached its highest level. Since then, the activity had been showing consecutive retractions, reaching, according to the IBGE, an accumulated loss of approximately 17%.
In January 2017, the industry’s production started with a drop of 0.1% compared to December. However, compared to January 2016, industrial activity increased 1.4%, interrupting 34 consecutive months of retraction on this basis of comparison.
In the analysis of categories, there was growth in the production of capital goods, such as machinery and equipment (3.3%), as well as durable consumer goods, such as automobiles (3.2%). Also showing positive rates were semi and non-durable consumer goods (2.1%) and intermediate goods (0.8%).
For the industry manager at IBGE, André Macedo, “the industry has a growth behavior. More than that, a spread of bullish behavior, but this is far from being a feature of a reversal of the fall, which has lasted for a long time.”
What is Consumer Goods?
Durable consumer goods are those that can be used repeatedly over long periods, taking longer for your total depreciation.
Are examples of durable goods :
On the other hand, non-durable consumer goods are those that have a shorter useful life. These are produced for more immediate consumption, with a shorter duration.
There are even economists who consider semi-durable consumer goods.
What is Non-Durable Goods?
These will wear out in less time than consumer durables, but they will take longer to wear out than nondurables.
This duration will vary according to the quality of the raw material used in the manufacture of the product and how the consumer uses it.
That’s because they aren’t fully consumed as quickly as food, nor as slowly as a car in general.
In short, we can say that non-durable consumer goods are those made to be consumed immediately, such as food and cosmetics. Durable consumer goods, in turn, are those that can be used several times over long periods, as they have a longer period of depreciation (a car, a washing machine, etc.).
What Is The Difference Between Durable Vs Non-Durable Goods?
Non-durable consumer goods are those that are used immediately and cannot be reused later.
Most of them are related to food, such as:
These foods and the like are not classified as ‘sated’ as they are not considered basic items for people. In this case, they are not fundamental foods for the person to stay fed and are necessary for survival.
Durable consumer goods, on the other hand, are all the others that do not fit into any of the previous categories.
Real estate does not fall into this category because, as well as satisfying consumer goods, they are a basic need of human beings.
What Companies Are In The Consumer Non-durables Field
Consumer goods industries present activities related to products aimed at individuals and families, that is, end consumers and shoppers, who purchase a product for third parties: a mother who buys baby food.
Unlike the heavy segment, which works with industries and manufacturers, the materials manufactured by the consumer goods industries are intended for direct marketing to buyers, for their use, ready consumption of materials, or indication to other people. Generally, companies in this segment operate in the electronics, automobiles, beverages, clothing, packaged products, and food sectors. Here is more about Consumer Non-durables Field
How Many Jobs Are Available In Consumer Non-Durables
The non-durable market continues to see record growth across all markets with a 7% increase in the past year alone. Consumers continue to invest in non-durable products. Companies continue to look for ways to cut costs without losing sales.
According to a recent survey conducted by The NPD Group, non-durable retailing is expected to reach $1.2 trillion by 2023.
As we’ve seen in the recent recession, employment can be tough to come by in today’s market. One sector that’s seen a bit of growth recently is the non-durables market, which includes consumer products such as non-durable goods (nondurable goods) and consumables.
According to the Bureau of Labor Statistics, as of May 2016, there are an estimated 10,510,000 jobs in non-durables (excluding transportation equipment). That represents 1.2% of the total U.S. workforce.
Best Paying Jobs In Consumer Non-Durables
If you’re looking for a job that pays well, consider a career in consumer non-durables.
“The best jobs in consumer non-durables may surprise you,” says John. “Consumer non-durable goods are those that are meant to last over time, including clothing and footwear, furniture and home decor, kitchen items, sporting goods, books, and DVDs.” These industries have the best prospects for growth, according to John.
According to the BLS, there are nearly 1.3 million new jobs available in consumer non-durables and the industry will continue to grow at an average of 4 percent a year through 2021.
What Do Consumer Non-Durables Jobs Pay
When looking at non-durable goods jobs that pay $35K or higher, you’ll notice that most are retail. For example, fast-food jobs pay around $11 per hour on average, according to data compiled by CareerCast.com. The average retail associate salary is $10.81 per hour, CareerCast reports.
Other retail jobs paying $35K or more include apparel manager, store manager, department manager, assistant manager, assistant buyer, buyer, and merchandiser.
Is Advertising A Good Career
So you’ve started working in advertising. Do you really like it? If the answer is no, it may be time to rethink your career. I mean, there’s always the chance that you will grow into the position and become a great copywriter, but that’s just a hope. As much as you may love your work, if you don’t enjoy the actual work, it will eventually wear you down.
Sure, there are days when you want to rip out your hair, but if you’re not happy with your current job, then there’s no reason to stay in it for long.
Is Capital Goods A Good Career Path
Capital goods are often referred to as durable products. They tend to be long-lasting items that you need more of over time (like TVs or washers and dryers). While there is room for growth in these areas, they still have room for expansion.
They are often high in labor costs because they require workers to spend hours making repairs and maintaining the equipment.
So is capital goods a good career path? This is a big question. It depends entirely on who you are and what kind of career you’re seeking. Some jobs in the capital goods field are highly skilled, require lots of hands-on training, and provide good pay, while others are more routine, low paying, and are more suited to entry-level workers.
Many people are surprised to learn that it’s possible to switch careers, so if you’re considering switching to a career path that requires heavy technical skills, it might be wise to explore this option first.
Non-Durables are defined by the fact that consumers choose to purchase and consume goods that don’t last as long as other goods. This means that non-durable goods are purchased for their utility in the short term.
For instance, a plastic cup may be purchased because it holds liquid more efficiently than glass or metal. While non-durable goods are typically more economical, the rise in popularity of sustainable practices has led to consumers looking to products that last longer and/or require less resource consumption. The reason this is important to consider in career planning is that non-durables can provide a wide variety of opportunities.