Consumers are increasingly turning to more expensive electronics and other items that don’t necessarily provide the same amount of value as a traditional home.
The Associated Press defines consumer services as items that meet a number of criteria, such as providing a new or different experience or convenience, including a service or serviceable device, that are “essential to living a good life” and “not something that can be easily substituted.”
Consumers have been moving away from traditional items since the 1980s.
Read the AP’s full definition of consumer services in the section above.
The AP’s definition is based on a survey conducted in 2011 by consulting firm NPD Group.
We rate the claim True.