MANAGEMENT

Detailed explanation-1: -What Is Consumerism? Consumerism is the idea that increasing the consumption of goods and services purchased in the market is always a desirable goal, and that a person’s well-being and happiness depend fundamentally on obtaining consumer goods and material possessions.

Detailed explanation-2: -Consumerism increases debt levels which in turn results in mental health problems like stress and depression. Trying to follow the latest trends when you have limited resources can be very exhausting to the mind and body. Consumerism forces people to work harder, borrow more and spend less time with loved ones.

Detailed explanation-3: -Consumerism and Materialism Consumerism is essentially the preoccupation of goods in society. Materialism, on the other hand, is one’s preoccupation with tangible items and physical comfort. These two concepts are closely related.

Detailed explanation-4: -Consumer materialism is a personal value that reflects the importance a consumer places on the acquisition and possession of material objects.