Spreading wings of consumerism

Not long ago, there was a time in our country and in many other domains of the developing world when commodity markets were dominated by the sellers and the consumers used to play as mere stooges in their hands. With not many products available in the market, buyers were rather compelled to buy whatever the sellers had to offer at their quoted price. With phenomenal technological progress achieved globally and increasing globalisation in manufacture and marketing of products, business focus gradually shifted from sellers to consumers. Consumers started to rule the market and sellers and manufacturers were left with no other choice than to produce and sell products of consumers' choice. This is what consumerism is that gradually gained prominence across the world since the end of the 20th century and has rewritten politics, economics and culture as a way of life.
In economics, consumerism means the human desire to acquire and own products and goods in excess of one's basic needs like sufficient food, clothing and shelter.
In politics, consumerism is referred to as the consumerists' movement, consumer protection or consumer activism. Although less discussed consumerism also refers to a situation where consumers are seeking protection from being unfairly treated or being taken advantage of by the sellers.
The underlying message of consumerism is the quest for good life. Consumerism has therefore transpired as one of the dominant global social forces, irrespective of religion, class, gender, ethnicity and nationality. Consumerism has its roots in Britain's Industrial Revolution in the 18th century. During the revolution, the availability of consumer products substantially increased with increased mechanisation of the production processes.
Consumerism is said to have improved the economies of nations in various ways, one of which is innovation. Innovation in product technology has not only brought more product diversification, but has also led to improvement in quality of the products. In addition, when a greater number of people buy goods and services in excess of their needs, they actually spend more and create more economic activities and the cycle of demand thus created leads to greater production and greater employment, resulting in higher consumption.
In this way, increasing consumerism has created a boom in production of consumer goods and services and for the people engaged in delivering the goods and services to the consumers. Consumerism has placed the consumers in the driving seat and firms that do not meet consumer demand and expectations risk rejection by the consumers.
Growing consumerism may be an indicator of growth in more senses than one, but the rise of consumerism has already made a detrimental impact on our environment. Clothes and apparel, for example, being produced to satisfy the consumers, involve extensive use of water, energy, chemicals and raw materials, all of which place heavy pressure on our natural resources. Moreover, it requires construction of factories and factory complexes for the purpose and operation of these installations produces toxic by-products that pollute the environment. Use of commodities like automobiles also produces pollutants and waste. But very little attention is being paid to these aspects as our consumption patterns are so much a part of our lives at present that any effort to change them would require a massive cultural overhaul, not to speak of severe economic dislocation thereof. In case some attention is paid to reduce production of the products that are polluting the environment it will produce a reverse effect. A fall in demand for products, as economists note, will bring on economic recession or even depression causing massive unemployment.
As awareness on the impact of consumerism on the environment grows, many companies have embarked on ways to reduce the polluting effects of their products. Many of these moves have been prompted by conscious consumers who look for goods that do not cause harm to the environment during production.
On the other hand, environmental activists have also been trying to stave off growing consumerism. There is a growing apprehension that consumerism may also gradually rob the society of its values of community feeling, spirituality, and integrity, and drag it towards competition, materialism and disconnection.
People are also made to work longer and harder to maintain their high-consumption lifestyle, which results in their spending less time with family and the community. Some believe that consumerism as a culture is threatening the very fabric of our society.
The free economy that we pursue operates only by producing and selling goods and services. Higher production and sales breed higher progress and prosperity. The single most important indicator of economic growth is the gross domestic product (GDP), the sum total of goods and services produced in a year. The success of a consumer society depends on its ability to consume. The USA has thus become a society of consumerism, where people want more and more goods and services that they do not really need.
Consumerism is economically interpreted as the rising trend of acquiring new goods and services without any noticeable need for those. It has resulted in huge expenses on advertising. Thus materialism is one of the end results of consumerism.
Consumerism has spread its wings over Bangladesh as well. Sprawling shopping malls, supermarkets and chain shops bear ample testimony to the fact that buyers here are opting for fashionable and trendy products and in the process are spending more.
Again, consumerism interferes with the workings of the society ignoring desire for an adequate supply of life's necessities and paying little regard for the true utility of what is being bought and promoting the desires of business houses to discard the old and rush for new products either because of lack of durability or a change in fashion.
As consumerism drives people to buy more products and spend more money, a part of which could have been spent on social capital, such as education, nutrition, housing etc. In addition, spending on items imported from abroad is likely to take away a part of the export earnings. Imports may create a few loudly touted jobs, but in the long run increased imports will have a negative impact on our gross national product (GNP).
[email protected]