What are specialty goods

Specialty goods are products for which consumers are willing to spend much more than they would on similar items because they have a brand preference.

These are purchases that the consumer takes a lot of time to choose from since they are very expensive.

Indeed, these types of products are well-known and sought after.

The consumer is very familiar with the product and is willing to accept only one specific brand.

The purchase frequency of specialty goods is very low.

The products belonging to this category include:

• Cars;
• Jewelry;
• High fashion clothing;
• Art objects.

To obtain goods in this category, the customer is also willing to pay a premium price and invest time in evaluating alternatives.

Difference between Specialty Goods and Convenience Goods

Specialty goods have opposite characteristics to those of  convenience goods, which are items that are purchased and consumed every day.

The differences between the two categories of various products are:

• Convenience goods: are characterized by a low unit value and low buyer involvement. Therefore, they are all those products that are bought frequently and quickly, for which consumers are not willing to move much or spend a lot of time;
• Specialty goods: are consumer goods that require a certain distribution characterized by efficient and assisted service.

The diversity of these two product categories also concerns the different purchasing behaviors of consumers in both cases.

Depending on the category to which a certain product in question belongs, the distribution can vary and concerns the channels and means used to disseminate the advertising message.