The consumer products business is enormous. It accounts for over 6.9% of the global GDP and is one of the most important industries for employment development. There are several sub sectors within the consumer products industry that keep things fresh and difficult.
This industry includes a wide range of industries, from garments to food. So, which firms are involved in the consumer durables industry?
Consumer durables, in a nutshell, are products that consumers tend to buy more than once every three years. That goes for automobiles, in addition to stoves, refrigerators, and other major appliances, as well as for furniture.
It’s one thing to be successful in selling a product at a higher price once every few years. What about the things that consumers continue to purchase? Consumer non-durables are things that people have to buy often because they don’t last very long.
If you want to work for a company that offers this kind of thing, you might be wondering what kinds of companies exist in this industry.
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What are durable goods?
The term “durable goods,” or simply “consumer durables,” refers to a subset of consumer items that do not soon degrade and require replacement.
Consumer durables are things that are meant to last for a long time, usually more than three years. People use these products often and are happy with them for a long time. Consumer durables include things like refrigerators, washers, and ovens, as well as furniture, electronics, and cars.
It’s not necessary for consumers to make frequent purchases of durable products (also called durables) because of how long they last in use. If used properly, they may provide their owner with reliable service for many years, whether that’s in a personal or professional capacity.
Consumer durables are things like appliances, furniture, and electronics that people use over and over again for a long time. This article will provide an overview of the companies that are in the consumer durables field, including the major players and their products.
The U.S. Department of Commerce says that “durable goods” have a shelf life of three years or more. These numbers are included in the core retail sales data set because they meet this definition.
For example, vehicles, home furnishings, office supplies, garden tools, technological devices, motorbikes, fashion accessories, and more all fall under this category.
What are examples of consumer durables industry?
Consumer services is a broad term that can be used to describe a wide range of businesses that help people or households. Here are some examples of industries that are considered consumer services:
Retail includes stores like department stores, grocery stores, and specialty shops that sell goods directly to customers.
- Hospitality: This includes businesses like hotels, restaurants, and bars that let people stay, eat, and drink.
- Personal care: This includes businesses like hair salons, spas, and gyms that offer services related to personal hygiene and grooming.
- Health and wellness: This includes businesses like hospitals, clinics, and counseling services that offer services related to physical and mental health.
- Entertainment: This includes businesses like movie theaters, amusement parks, and sports stadiums that offer services related to leisure and recreation.
- Financial services include businesses like banks, credit unions, and financial advisors that offer banking, insurance, and investment management services.
- Transportation: This includes businesses like airlines, taxis, and ride-sharing services that offer services related to transportation.
These are just a few of the many industries that fall under the category of consumer services.
Some of the Top Companies in the Consumer Durable Market
1. Samsung Group
Samsung Group is a South Korean multinational multinational corporation that has its headquarters in Seoul. It is one of the biggest companies in the world, and its subsidiaries work in many different fields, such as electronics, construction, finance, and biotechnology.
Lee Byung-chul started the business in 1938 as a small trading company. Since then, it has grown into a global leader in a number of industries. Samsung Electronics, which is a part of Samsung Group, is known for making a wide range of consumer electronics, such as smartphones, TVs, and home appliances. Other important subsidiaries of Samsung Group include Samsung Heavy Industries, Samsung Life Insurance, and Samsung C&T Corporation.
In addition to its business operations, Samsung Group is known for its charitable work. The company has set up a number of foundations and charitable organizations that support education, health care, and environmental projects in different parts of the world.
Here are some important facts about Samsung Group that will help you understand the company:
- Revenue: In 2021, Samsung Group had 236.8 trillion Korean won in revenue, which is about $200 billion USD. This made it one of the biggest companies in the world.
- Employees: As of 2021, there were about 320,000 people working for Samsung Group around the world.
- Samsung Electronics, a division of Samsung Group, is the world leader in consumer electronics.
- It has a market share of about 20% in the smartphone market and 31% in the global semiconductor market.
- Innovation: Samsung Group spends a lot of money on research and development, with a focus on making products and technologies that are at the cutting edge. In R&D, the company spent about $22.4 billion US dollars in 2021.
- Samsung Group has a big presence in many parts of the world, with businesses in 74 countries and subsidiaries in fields like electronics, finance, and biotechnology.
- Philanthropy: The Samsung Group is known for its charitable work, especially in the areas of education, health care, and the environment. The company has set up a number of foundations and nonprofits to help these causes.
2. Apple Inc.
Apple is a multinational company that makes technology products. Its headquarters are in Cupertino, California. Apple is known for its iconic products, like the iPhone, iPad, MacBook, and Apple Watch, as well as its innovative designs and user experiences.
Steve Jobs, Steve Wozniak, and Ronald Wayne started Apple in 1976. Since then, it has grown into one of the biggest companies in the world. Apple also has a number of services, like the App Store, Apple Music, iCloud, and Apple Pay, that go along with its consumer electronics.
Apple is known for putting a lot of effort into design and new ideas, and the company spends a lot of money on research and development. The company has also been a leader in the tech industry’s push for more sustainability, and its goal is to be carbon neutral by 2030.
Apple has a big presence in many parts of the world. It has stores in more than 25 countries and does business in more than 45. The company has a large number of loyal customers and is consistently ranked as one of the most valuable and admired companies in the world.
Here are some important facts about Apple Inc. that will help you understand the company:
- Revenue: Apple had $274.5 billion in revenue in 2021, making it one of the biggest companies in the world.
- Profit: Apple made $57.4 billion in net income in 2021, making it one of the most profitable companies in the world.
- Apple’s products are well-known, especially the iPhone, iPad, MacBook, and Apple Watch. In 2021, the iPhone was responsible for about half of Apple’s income.
- Apple is known for making products and designs that are new and different, and the company spends a lot of money on research and development. Apple spent about $19.9 billion USD on R&D in 2021.
- Apple has a big presence in many parts of the world. It has stores in more than 25 countries and does business in more than 45.
- As of 2021, Apple had about 147,000 employees all over the world.
3. Sony Corporation
Sony is a large company that has offices all over the world and is based in Tokyo, Japan. The company is known for its wide range of products and services, which include consumer electronics, games, entertainment, and financial services.
Masaru Ibuka and Akio Morita started Sony in 1946. Since then, the company has grown to become a world leader in technology and entertainment. The PlayStation game console, the Sony Xperia smartphone, and the Sony Bravia line of TVs are some of the company’s best-known products.
Sony also has a successful entertainment division, which includes music and film production studios in addition to its consumer electronics business. The company is also in the financial services business. It has subsidiaries that offer banking, insurance, and other financial products and services.
Sony is known for its dedication to design and innovation, and the company spends a lot of money on research and development. The company has also been a leader in the tech industry’s push for more sustainability, with the goal of leaving no trace on the environment by 2050.
Here are some important facts about Sony Corporation that will help you understand the company:
- Revenue: In 2021, Sony made 10.8 trillion Japanese yen in revenue, which is about $97.5 billion US dollars. This made it one of the biggest companies in the world.
- As of 2021, Sony had about 111,700 employees all over the world.
- Sony is a world leader in consumer electronics and video games, with a strong presence in markets like televisions, audio equipment, and video game consoles.
- Innovation: Sony spends a lot of money on research and development, with the goal of making products and technology that are at the cutting edge. In R&D, the company spent about $8.7 billion US dollars in 2021.
- Sony has a big presence in many parts of the world, with businesses in over 70 countries and a lot of customers in Asia, Europe, and the Americas.
4. Bajaj Electricals
Bajaj Electricals Ltd is an Indian company that works in the consumer electronics and lighting industries. The company was founded in 1938, and its headquarters are in Mumbai, India.
Bajaj Electricals has a wide range of products, such as home appliances, fans, lighting, and engineering and projects. The company has a strong presence in the Indian market, with a wide network of dealers and distributors all over the country.
The company’s home appliances include things like water heaters, mixer grinders, air coolers, and irons. Bajaj Electricals is also a leading maker of ceiling fans and table fans in India.
In addition to its business in consumer electronics, Bajaj Electricals has a big presence in the lighting industry. It makes and sells a wide range of lighting products for both homes and businesses. The company also offers engineering and project services, like transmission line towers, power distribution projects, and lighting projects.
Bajaj Electricals puts a lot of emphasis on new ideas and has spent a lot of money developing new products and technologies to meet the changing needs of consumers. The company is also committed to sustainability, with a focus on reducing its impact on the environment and making its products more energy efficient.
Here are some important facts about Bajaj Electronics that will help you understand the company:
- During the financial year 2020–21, Bajaj Electricals made about $499 million USD in sales.
- As of 2021, there were about 6,000 people working for Bajaj Electricals.
- Bajaj Electricals has a wide range of products, such as home appliances, fans, lighting products, engineering and construction projects, and more.
- Market presence: With a large network of dealers and distributors all over India, Bajaj Electricals has a strong presence in the Indian market.
- Innovation: Bajaj Electricals puts a lot of effort into coming up with new products and technologies to meet the changing needs of customers.
- Sustainability: Bajaj Electricals is committed to sustainability by reducing its impact on the environment and making its products use less energy.
- Bajaj Electricals is a well-known brand in India, and it has a strong reputation for quality and innovation.
5. Whirlpool Corp.
Whirlpool Corporation is a multinational company that makes home appliances. It is based in the U.S. city of Benton Harbor, Michigan. The company is known for making a wide range of appliances, such as refrigerators, dishwashers, washing machines, and dryers.
Whirlpool started out as the Upton Machine Company in 1911. Since then, it has grown through a series of mergers and acquisitions to become one of the world’s largest makers of home appliances. Whirlpool, Maytag, KitchenAid, and Amana are some of the company’s most well-known brands.
Whirlpool is not only focused on making home appliances but also has a strong commitment to sustainability and being good to the environment. The company has big plans to reduce its impact on the environment, like cutting greenhouse gas emissions in half by 2030.
Here are some important facts about Whirlpool Corporation that will help you understand the company:
- Whirlpool is a big company in many parts of the world. It has operations in more than 40 countries and about 77,000 employees worldwide.
- The company is known for its strong focus on customers and commitment to quality. Its products and services have won a lot of awards and praise.
6. LG Corp.
LG Corporation, also known as LG, is a South Korean multinational conglomerate that works in many different fields, such as electronics, chemicals, and telecommunications.
LG was founded in 1947 as Lucky Chemical Industrial Corp. Since then, it has grown to become one of the biggest companies in South Korea and a major player in many parts of the world. The company is known for making new products, especially in the areas of electronics and home appliances.
Smartphones, TVs, refrigerators, and washing machines are some of LG’s most popular products. The company also cares a lot about the environment and has taken a number of steps to reduce its impact on the environment.
Here are some important facts about LG Corp. that will help you understand the company:
- Revenue: In 2020, LG made about $56.5 billion USD in revenue, making it one of the biggest conglomerates in South Korea.
- Employees: As of 2021, LG had about 126,000 workers around the world.
- LG works in many different industries, such as electronics, chemicals, and telecommunications, and offers a wide range of products and services.
- LG is known for making products and technologies that are new and different, especially in the electronics and home appliance markets.
- The company puts a lot of money into research and development, with a focus on making new technologies and products to meet consumers’ changing needs.
- Global presence: LG has a big presence in many parts of the world. They do business in over 80 countries and have a lot of customers in North America, Europe, and Asia.
- LG is a well-known brand in many markets, especially the markets for consumer electronics and home appliances.
- The company has a strong reputation for quality and new ideas, and its products and services have won a lot of awards and praise.
7. Microsoft Corporation
Microsoft is a technology company with headquarters in the city of Redmond, Washington. Bill Gates and Paul Allen founded Microsoft back in 1975. It is now one of the largest software companies in the world and offers a wide range of tech products and services.
The Windows operating system, the Microsoft Office suite, and the Microsoft Surface line of computers and tablets are the company’s best-known products. Microsoft also has cloud-based services like Microsoft Azure and Microsoft 365, and its Xbox brand sells games.
Microsoft puts a lot of money into research and development and has a strong focus on coming up with new ideas. In the past few years, the company has also bought some big names, like LinkedIn, GitHub, and ZeniMax Media.
Here are some important facts about Microsoft Corporation that will help you understand the company:
- Revenue: In the financial year 2021, Microsoft had more than $168 billion in revenue, making it one of the biggest technology companies in the world.
- Employees: As of 2021, more than 181,000 people worked for Microsoft around the world. This made it one of the biggest employers in the technology field.
- Products and services: Microsoft has a wide range of products and services, including operating systems, productivity software, cloud-based services, gaming products, and hardware.
- Cloud computing: Microsoft is a big player in the cloud computing market, and its Azure platform gives businesses and organizations a wide range of services.
- Microsoft is putting a lot of money into artificial intelligence, with the goal of making smart apps and services for businesses and consumers.
- Microsoft is committed to corporate responsibility and sustainability. By 2030, the company wants to be carbon negative, water positive, and waste free.
- Market capitalization: As of March 2023, Microsoft was one of the most valuable companies in the world, with a market capitalization of over $2.6 trillion USD.
8. Philips ltd.
Philips is an international company with its headquarters in the Netherlands. It makes products for health technology and lighting. Philips has been making new products and services since it was founded in 1891. It now has a wide range of products and services.
The company’s health technology division offers a wide range of medical equipment and services, like diagnostic imaging systems, patient monitoring solutions, and healthcare informatics. Philips also sells a wide range of products for personal health, like electric toothbrushes, shavers, and air purifiers.
Philips is a leading provider of both health care products and services and lighting products and services. The company has a wide range of LED lighting options for homes, offices, and public spaces, as well as specialty lighting for industries like healthcare, horticulture, and entertainment.
Here are some important facts about Philips Ltd. that will help you understand the company:
- Revenue: In 2021, Philips made a net profit of €970 million ($1.1 billion USD) on sales of €17.5 billion ($20.4 billion USD).
- Employees: In 2021, Philips had about 77,000 workers in 100 different countries.
- Philips runs its business in three main areas: personal health, diagnosis and treatment, and connected care and health informatics.
- Innovation: Philips is known for putting a lot of money into research and development to come up with new ideas.
- The company spent €2.2 billion ($2.6 billion) on research and development in 2020.
- Sustainability: Philips has big goals for sustainability. By 2025, they want to be carbon neutral and use only electricity that comes from renewable sources.
- By 2025, the company also wants to use twice as much recycled plastic in its products as it does now.
- Philips is a well-known and respected brand that has always been in the top 100 of Interbrand’s list of the Best Global Brands.
- Philips has a strong presence all over the world, with operations in more than 100 countries and sales in more than 100 markets.
9. Lenovo Group
Lenovo Group is a Chinese multinational technology company that makes computers, smartphones, and other electronics. Since it was started in 1984, the company has grown to become one of the biggest PC makers in the world.
Lenovo has a wide range of laptops, desktops, tablets, and accessories for both businesses and consumers. The company also makes smartphones, things for smart homes, and things for data centers.
Lenovo does business in more than 60 countries and sells its products in more than 160 markets. The company puts a lot of money into research and development to stay ahead of the competition and has a strong focus on innovation. Lenovo also cares about the environment. By 2050, the company wants to have net-zero carbon emissions and use only renewable energy.
Here are some important facts about Lenovo Group that will help you understand the company:
- Revenue: In the fiscal year 2020/21, Lenovo had a total revenue of $60.7 billion USD and a net income of $1.1 billion USD.
- As of 2021, Lenovo employed about 63,000 people around the world.
- Business segments: Lenovo has two main business segments: Intelligent Devices Group (IDG) and Data Center Group (DCG).
- Innovation: Lenovo is known for its focus on innovation and its large investments in research and development. In 2020, the company spent $1.5 billion USD on R&D.
- Sustainability: Lenovo has ambitious sustainability goals. By 2050, it wants to have net-zero carbon emissions and use 100% renewable energy.
- The company is also committed to reducing its impact on the environment and making its supply chain more sustainable.
- Lenovo is a well-known and respected brand that consistently ranks in the top 500 on the Fortune Global 500 list.
- Global presence: Lenovo has a strong global presence, with operations in more than 60 countries and sales in more than 160 markets.
10. Ford Motor Company
Henry Ford started the Ford Motor Company in 1903. It is an American multinational car company. The company is one of the biggest car makers in the world. It is based in Dearborn, Michigan.
Ford makes a lot of different kinds of cars, trucks, SUVs, and commercial vehicles. The F-150 pickup truck, the Mustang sports car, and the Explorer SUV are some of its best-known brands. Ford also has a high-end brand called Lincoln that makes expensive cars.
Ford also makes cars, but through its subsidiary, Ford Motor Credit Company, it also offers financing and leasing services. The company also puts a lot of effort into research and development, especially for electric and self-driving vehicles.
Ford has operations in North and South America, Europe, Asia, and other parts of the world. The company has also made deals with other businesses in the automotive and technology industries to work together.
Here are some important facts about Ford Motor Company that will help you understand the company:
- Earnings: In 2020, Ford made a total of $127.1 billion USD in sales.
- As of 2021, about 186,000 people around the world worked for Ford.
- Sales: Around the world, Ford sold about 4.1 million cars in 2020.
- Business segments: Automotive and mobility are Ford’s two main business segments.
- Ford is focused on new ideas, especially in the areas of electric and self-driving cars. In research and development, the company spent $7.7 billion USD in 2020.
- Sustainability: Ford is committed to sustainability and has set big goals to reduce its carbon footprint and increase the use of renewable energy in its operations.
- The company has also promised to make its vehicles and supply chain out of sustainable materials.
- Ford has a strong presence around the world, with businesses in North America, South America, Europe, and Asia.
- The company makes cars in 15 different countries and sells them in more than 100 different markets.
Why Should You Work in Consumer Durables?
There are several reasons why working in the consumer durables industry can be a great choice for a career:
- Stable industry: The consumer durables industry is generally thought to be more stable than other industries, since people tend to keep buying household appliances and electronics even when the economy is bad.
- Growing market: As the demand for appliances and electronics rises around the world, the consumer durables industry is expected to continue to grow in the coming years, creating job opportunities in fields like manufacturing, marketing, sales, and research and development.
- Innovative industry: The consumer durables industry is known for its innovations and advances in technology. Working in this industry can give you the chance to take part in cutting-edge developments and work on new and exciting projects.
- Diverse career opportunities: There are many types of jobs in the consumer durables industry, from design and engineering to marketing and sales. This industry also offers chances to specialize in areas like renewable energy, sustainability, and product development.
- Competitive salaries: The consumer durables industry often offers competitive salaries and benefits packages to attract the best people.
What companies are in the consumer non durables field?
In the consumer non-durables industry, there are companies that make things like food, drinks, personal care products, household goods, and clothing that are usually consumed or used up quickly. Some companies in the field of non-durable consumer goods are:
- Procter & Gamble
- Johnson & Johnson
What are the best consumer durables stocks?
There are many things to think about, such as a company’s financial health, growth potential, management team, and industry trends. It is important to do a lot of research to find stocks that could give long-term returns. Investors should look at a company’s financial statements, earnings reports, and key metrics, such as its price-to-earnings ratio. It’s also important to spot industry trends and patterns that could affect a company’s performance. Diversification is another important thing to think about when building a portfolio, as it helps reduce risk. Seeking the advice of a professional financial advisor can also help people make smart investment decisions based on their own financial goals and risk tolerance.
Consumer durables is a very competitive field with a lot of big companies and a wide range of products. Companies like Whirlpool, Samsung Electronics, LG Electronics, Sony Corporation, and Panasonic Corporation dominate the market, but others like Haier Group, Midea Group, Hisense, TCL Corporation, Electrolux, Bosch, Philips, Sharp Corporation, Hitachi, and General Electric also have an impact. When it comes to buying consumer durables, people have a lot of options, and the industry keeps coming up with new ideas and changing to meet their needs.
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