Discretionary goods

Discretionary goods are those whose consumption is not due to a need, they are not essential or necessary, but rather they are related to the satisfaction of fulfilling a want or desire. They are usually related to leisure, fashion, luxury, gift items and cultural products, although they can also be included, depending on their special characteristics, furniture and other household products. Another characteristic of discretionary goods is that their demand strongly depends on the economic cycle, so that in periods of crisis their demand is strongly affected; they are, therefore, goods with a very elastic demand. The industry producing these goods is named consumer discretionary.