Listen to a Business English Dialogue about Consumer durables
Gary: Hi Quinn, have you heard about consumer durables in business and finance?
Quinn: No, I haven’t. What are they?
Gary: Consumer durables are goods that are expected to last for an extended period, typically more than three years, such as appliances, furniture, and electronics.
Quinn: Oh, I see. So, they’re items that consumers purchase for long-term use rather than immediate consumption?
Gary: Exactly. Consumer durables are considered investments by consumers because they provide utility over an extended period.
Quinn: Are there any trends or factors that influence the demand for consumer durables?
Gary: Yes, factors like changes in disposable income, interest rates, and consumer confidence can impact consumer spending on durables.
Quinn: That makes sense. So, economic conditions play a significant role in determining the demand for consumer durables.
Gary: Yes, exactly. During periods of economic growth and low-interest rates, consumers are more likely to purchase durables.
Quinn: Are there any risks associated with manufacturing and selling consumer durables?
Gary: Yes, there are risks such as changes in consumer preferences, technological advancements, and competition from other manufacturers.
Quinn: I see. So, businesses need to stay innovative and adapt to changing market conditions to remain competitive.
Gary: Absolutely. Innovation and market responsiveness are essential for success in the consumer durables industry.
Quinn: Are there different categories of consumer durables?
Gary: Yes, consumer durables can be categorized into major appliances, small appliances, electronics, furniture, and automobiles, among others.
Quinn: That’s interesting. So, there’s a wide range of products that fall under the category of consumer durables.
Gary: Yes, consumer durables encompass a diverse range of products that meet various consumer needs and preferences.
Quinn: I see. Well, thanks for explaining consumer durables to me, Gary.
Gary: You’re welcome, Quinn. If you have any more questions, feel free to ask!