Consumerism is a social and economic order that encourages the purchase of goods and services in ever-greater amounts. The term "consumerism" has also been used to refer to something quite different called the consumerists movement, consumer protection or consumer activism, which seeks to protect and inform consumers by requiring such practices as honest packaging and advertising, product guarantees, and improved safety standards.
Objectives of consumerism:
To build the confidence of Multinational Companies for investing in developing countries.
To educate the consumers about their rights.
To ensure cooperation between government and producers.
To ensure fair trade practices and provide complete information to the consumers.
To supplement the legal system.
To create a self-help support system.
To create a healthy competition among producers.
To build a consume guidance society of India.
What consumerism really is, at its worst is getting people to buy things that don't actually improve their lives.
Advertising tries to stimulate our sensuous desires, converting luxuries into necessities, but it only intensifies man's inner misery. The business world is bent on creating hungers which its wares never satisfy, and thus it adds to the frustrations and broken minds of our times.
Positive consumerism effects are:
More industrial production.
A higher growth rate economy.
More goods and services available.
More advertising since goods manufactured have to be sold.
Increased production will result in more employment opportunities.
A variety of goods and services to choose from.
More comforts for a better living style.
Negative consumerism effects are:
Craving for goods is high. The wants and desires of the people increase. The better their income, the better their purchasing power. But in case, they are not able to do so, then they feel dissatisfied.
Over-dependence on labor saving devices.
Crime rate also increases as wants to possess expensive gadgets increase. Thefts become common and daylight robberies take place.
Personal relationships also get affected as people are busy trying to earn more to maintain their standard of living.
Cheaper goods are imported from other goods affecting the growth of locally based manufacturing industries.
Consumerism has also resulted in ecological imbalances. The natural habitat is being destroyed to create more goods and build more buildings affecting the weather. Global warming will eventually result in health problems. Industrial pollution is affecting people in many ways.
Psychological health also can get affected if one’s desires are not meant such as depression. Jealousy and envy can lead to crime.
Consumer must be aware of his rights, raise voice against exploitation ans seek redressal of his grievances. Consumer's consicousness determines the effectiveness of consumerism. It the duty of the consumer his rghts and to protect them. The success of consumerism lies in the realization of the business that there is no substitute for voluntary self-regulations.