What are the similarities and differences between consumer goods and industrial goods? Give suitable examples.

Both industrial goods and consumer goods are affected by technological changes, i.e both can be rendered obsolete, such changes therefore required constant updating of technology for production of industrial and consumer goods.

Consumer goods refer to the goods that are purchased for personal, including for family and household use and for personal gifting. In contrast contrast industrial goods refer to goods purchased for use by industrial and business establishments. The industrial goods are purchased mostly of resale, with of without processing. It also includes consumables required for operation and maintenance of equipment and facilities used by these establishments. Generally the nature of industrial goods and consumer goods are quite different but there are some material falling in the category of both consumer and industrial goods. For example, food ingredients are purchased by large hotels and restaurants for business use as well as by consumers for domestic use.