What are convenience goods?

Convenience goods are the items that a consumer purchases on a regular basis and expects to be readily available to them. Some popular types of convenience goods include tobacco, candy, gum and alcohol.

Convenience stores received such a name because of their ability to carry convenience goods. On the other hand, specialty goods are types of items that are only available at select stores. For instance, designer handbags are considered specialty goods because they are not readily available to all shoppers at all locations, and can be difficult to find. Other types of specialty goods include tools, electronics, shoes and home decor items.