Contents

• Introduction 2
• Effects of Consumerism 2
• Environmental impact 2
• Economical imbalance in social classes 3
• Impact on Health 3
• Conclusion 4
• References 4

Description

Consumers are the most important part of the market. Consumerism explains the tendencies and preferences of consumers for the various products and brands. Consumerism works on the attitude of the people towards buying products, most of them these days buy products for sake of status or luxury. There is a rise in consumerism due to globalization and high earning capacity of individuals (Lury 1996). Also the latest strategies of marketing make a very good impact on atleast particular group of consumers who are always willing to spend just to maintain their status. This essay discusses the three most important economic consequence caused due to consumerism.