`White goods` is a term used for large household appliances, usually conspicuous (prominent or noticeable) consumption items, that are typically colored in white, such as refrigerators, washing machines, air conditioners, etc.
Option 1 is incorrect as `white goods` does not refer to stainless steel and aluminium utensils. They are considered basic kitchen necessities, not conspicuous consumption items.
Option 2 is also incorrect; `white goods` has nothing to do with milk and milk products. Milk and milk products belong to the food industry, not the home appliances sector.
Option 4 is off the mark too, as detergents, soaps and other mass consumption goods are considered as `fast-moving consumer goods` (FMCG), not `white goods`. While these are frequently consumed, they don`t fall into the category of large household appliances.
Therefore, the correct answer is 3-items purchased for conspicuous consumption, which rightly matches the definition of `white goods`.