There is enough on earth for everybody’s need, but not for everyone’s greed.” Gandhi
1 Consumerism today is an international phenomenon. People purchasing goods and consuming materials in excess of their basic needs are as old as the first civilizations (e.g. Ancient Egypt, Babylon and Ancient Rome).
2 The seeds of modern day consumerism grew out of the Industrial Revolution. In the nineteenth century, capitalist development and the industrial revolution were primarily focused on the capital goods sector and industrial infrastructure. For example, after observing the assembly lines in the meat packing industry, Frederick Winslow Taylor brought his theory of scientific management to the organization of the assembly line in other industries; this unleashed incredible productivity gains and reduced the costs of all commodities produced on assembly lines. Henry Ford and other leaders of industry understood that mass production presupposed mass consumption.
3 In the agrarian economy, the working classes labored long hours and had little time for consumption. While previously the norm had been the scarcity of resources, the Industrial Revolution created a new economic situation. After the Industrial Revolution, products were available in outstanding quantities, at low prices, being thus available to virtually everyone. Access to credit, in the form of installment payments aided further consumption.
4 Beginning in the 1990s, the reason most frequently given for attending college had changed. Making a lot of money outranked previous reasons such as becoming an authority in a field or helping others in difficulty. This rationale correlates with the rise of materialism, specifically the technological aspect: the increasing prevalence of mp3 players, digital media, tablets and smartphones. Some experts criticize what they can see as a large change in American culture; "a shift away from values of community, spirituality, and integrity, and toward competition, materialism and disconnection."
5 Businesses have realized that wealthy consumers are the most attractive targets of marketing. Consequently, upper class tastes, lifestyles, and preferences trickle down to become the standard for all consumers. The not so wealthy consumers then "purchase something new that will speak of their place in the tradition of affluence". A consumer can have the instant gratification of purchasing an expensive item to improve social status.
6 Emulation is also a core component of the 21st century consumerism. As a general trend, regular consumers seek to emulate those who are above them in the social hierarchy. The poor strive to imitate the wealthy and the wealthy imitate celebrities and other icons. The celebrity endorsement of products can be seen as evidence of the evocation of the desire of modern consumers to purchase products partly or solely to emulate people of higher social status. This purchasing behavior may co-exist in the mind of a consumer with an image of oneself as being an individualist.
7 The rise in popularity of ethical consumerism over the last two decades can be linked to the rise of the Corporate Social Responsibility (CSR) movement. As global population increases, so does the pressure intensify on limited natural resources required to meet rising consumer demand. Industrialization of developing countries, facilitated by technology and globalization is further straining these resources. Consumers are becoming more and more aware of the environmental and social implications of their day-to-day consumer decisions and are therefore beginning to make purchasing decisions based on environmental and ethical implications. However, the practice of ethical consumerism is in its nascent stages and far from universal.
Source: https://www.boundless.com/
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