Knowing the true value of your inventory is crucial, and Great American can help. With over 40 years of experience, Great American understands the complex drivers of the consumer goods industry. With experience, in a vast array of consumer goods sectors, we are able to identify market trends, accurately value your inventory and maximize recovery values. Additionally, proper valuation ensures proper financing to move your business forward. In addition to our internal personnel, Great American maintains contacts within the consumer goods industry that we utilize for insight and perspective. Our experienced team will maximize value to help you remain strong in an ever-changing market.
The consumer goods industry is made up of products that are the end result of production and manufacturing and purchased for consumption by the average consumer. Consumer goods are usually divided into three categories, durable goods, with a lifespan of 3 or more years (televisions, refrigerators), non-durable goods, which are consumed more immediately (food, toiletries), and services (haircuts, automotive services).
The United States has the largest consumer goods market in the world, estimated at over $500 billion. Some of the more obvious influencers on this industry are employment and wages – high employment and strong wage growth result in more spending on consumer goods. Consumer confidence, consumer price index and inflation also play a role in the market. Some of the less obvious market forces include digital/technological disruption to the market, demographic shifts and changing consumer attitudes (the increasing attention to environmental concern, for example). Great American is here to monitor all the big and small industry influences and changes to give your company the best value with peace of mind.