Consumer durables is a technical term for durables or things that last a long time. So, is consumer durables a good career path for graduates? Read on to find out.
Items that do not need to be purchased regularly are referred to as “consumer durable”.
In general, once these products are purchased, they will last at least three years before they need to be improved or replaced.
Read on as we throw more light on this.
SEE ALSO: Best Paying Jobs in Consumer Non-durables
What are Consumer Durable Goods?
Consumer durable are products that are bought to be used for a long time.
They have also been utilized for a long time, including industrial machines, bikes, yachts, refrigerators, and dryers.
Consumer durables include televisions, vehicles, computer equipment, business furniture, and household appliances like irons.
Because these products are purchased every few years, it makes predicting the purchasing habits more complex.
For example, during an economic downturn, there will be a more significant reduction in demand for consumer products as people postpone purchases until the economy improves.
Conversely, consumer spending usually booms when the economy improves because consumers are eager to buy something after waiting years.
Durables are often high-end items that match demand with a multiple-of-one income elasticity.
So, is consumer durable a good career path for graduates? A career in consumer durables may not be as lucrative as it appears, but the pay is excellent.
A consumer durables career is a perfect option for students or graduates seeking a meaningful job.
This line of work offers a vast range of job options and a variety of advantages.
This is because consumer durable goods are readily available, simple to use, and more expensive than most other things. As a result, these items are quite popular.
The concept of durable and non-durable doesn’t indicate that items can’t be improved or bent, despite their high price tag.
Therefore, students can earn more money while studying the industry’s fundamentals in this type of job.
5 Highly Paid Consumer Durable Career Paths for Graduates
1. Business Analyst
Business Analysts (BAs) specialize in improving business areas by analyzing data, increasing efficiency, and strengthening the business process.
Job Description
Their job is to:
- Investigate and scrutinize the business process currently used by a company and mark down areas where improvements can be made.
- Survey and study new and modern business strategies and IT developments to help the company.
- Present their conclusions in meetings to those concerned. This job requires experience and expertise to move from smaller projects to larger ones. Business analysts earn approximately $82,000 a year.
2. Senior Managers
These are people who manage the day-to-day tasks of a company. They monitor, direct, correct, and generally oversee the staff under them.
As a senior managers, you must be knowledgeable and experienced.
In addition, they must be able to make sure their staff members are always productive and not lagging in any way.
In durable consumer companies, senior managers earn $130,000 per year.
Most organizations require a masters degree and at least 7 years of experience when employing for this role.
This is a great consumer durable career path for graduates?
SEE ALSO: What Do Consumer Non-durables Pay?
3. Product Managers (PMs)
These people are responsible for creating and generating unique products, solutions, and services in line with the company’s mission and vision to meet the needs of consumers.
They are mainly in charge of producing and marketing products. Product managers must be able to identify and understand a customer’s needs and create innovative ways to satisfy that desire.
They must also be able to monitor the market and come up with ways to make their products stand out from other products offering similar things.
A product manager job requires a college degree and experience in product development.
Product managers make between $80,000 and $110,000 per year, making it a good consumer durable career path for graduates.
4. Retail Managers/Store Managers
They are in charge of the daily operation of a retail store. They are to manage the store’s sales, resources, finances, stocks, and staff.
Retail managers also meet the customers directly, so they must ensure the employees give good customer service.
They are also one of the highest-paying consumer durable jobs, with an annual salary of $45,000.00 on average.
5. Collections Associates
This group of people act as mediators between creditors and clients to collect debt on behalf of the company.
Collections associates are in charge of controlling accounts assigned to them, contacting debtors, and bargaining time for debt to be paid. They earn an average of $37,000 per year.
SEE ALSO: How Many Jobs Are Available in Consumer Non-durables
Conclusion
Now you know consumer durables include televisions, vehicles, computer equipment, business furniture, and household appliances like irons.
We believe that this piece has equipped you to answer if consumer durables is a good career path.
But if you leave it to us, Yes consumer durables is a great career path, and we’d advice you to delve right in.
Lastly, we implore you to share this piece across your social media pages.
