In today's world, possession of materialistic goods has become an Integral part of a person's life. Consumerism has its own benefits and perils. This essay will critically analyze the advantages and disadvantages of the habit of possessioning more and more consumer goods.
Undoubtedly, consumerism has its own advantages. Firstly, to cater to the ever-increasing demand of consumer products, the production and supply of these goods like mobiles, computers, and designer clothes have increased. So multinational companies manufacturing these goods are making huge profits, a share of which is helping the economy of the country. For instance, the sales of an Indian mobile company with a public-private company partnership has crossed the 100 crave mark, which has helped the Indian economy in the global market. Moreover, increased demand for these goods has led to a stiffer competition among manufacturers, thereby resulting in a significant decrease in the cost price of the products. To illustrate, over the last decade, the price of mobile phones has decreased steadily by about 5%. Finally, increased demand for materialistic products has given rise to various shopping malls, supermarkets, and online stores leading to increased jobs prospects for the local people. For example, our line shopping services have given employment opportunities to over 30% of the youth in urban India.
Moreover, just as a coin has two sides, consumerism has its own perils. To begin with, people often end up buying unnecessary products after being lured by attractive advertisements. This has led to a dangerous hoarding mentality. For example, a recently conducted survey showed that in an average household in the United Kingdom, 35% of the products purchased are never used! In addition, possession of these goods has become a status symbol for the consumers who are willing to run into debts in order to purchase these consumer items. A survey shows that the credit card debts have risen by 60% in urban India, and the inability of repaying often leads to total consequences like suicide and bank forgery.
To conclude, I firmly believe that the advantages of consumerism clearly outweigh the disadvantages. Instead of criticising this trend, people should curb their mentality of buying more goods than necessary so that a balance can be struck.
In
today
's world, possession of materialistic
goods
has become an Integral part of a person's life. Consumerism has its
own
benefits and perils. This essay will
critically
analyze the advantages and disadvantages of the habit of
possessioning
more and more
consumer
goods
.
Undoubtedly
, consumerism has its
own
advantages.
Firstly
, to cater to the ever-increasing demand of
consumer
products
, the production and supply of these
goods
like mobiles, computers, and designer clothes have
increased
.
So
multinational
companies
manufacturing these
goods
are making huge profits, a share of which is helping the economy of the country.
For instance
, the sales of an Indian mobile
company
with a public-private
company
partnership has crossed the 100 crave mark, which has
helped
the Indian economy in the global market.
Moreover
,
increased
demand for these
goods
has led to a stiffer competition among manufacturers, thereby resulting in a significant decrease in the cost price of the
products
. To illustrate, over the last decade, the price of mobile phones has decreased
steadily
by about 5%.
Finally
,
increased
demand for materialistic
products
has
given
rise to various shopping malls, supermarkets, and online stores leading to
increased
jobs prospects for the local
people
.
For example
, our line shopping services have
given
employment opportunities to over 30% of the youth in urban India.
Moreover
,
just
as a coin has two sides, consumerism has its
own
perils. To
begin
with,
people
often
end
up buying unnecessary
products
after
being lured
by attractive advertisements. This has led to a
dangerous
hoarding mentality.
For example
, a recently conducted survey
showed
that in an average household in the United Kingdom, 35% of the
products
purchased
are never
used
!
In addition
, possession of these
goods
has become a status symbol for the
consumers
who are willing to run into debts in order to
purchase
these
consumer
items. A survey
shows
that the credit card debts have risen by 60% in urban India, and the inability of repaying
often
leads to total
consequences like
suicide and bank forgery.
To conclude
, I
firmly
believe that the advantages of consumerism
clearly
outweigh the disadvantages.
Instead
of
criticising
this trend,
people
should curb their mentality of buying more
goods
than necessary
so
that a balance can
be struck
.