Today, people are buying more consumer goods like jewelry and household appliances. Do the advantages overweigh the disadvantages?

In recent days, people prefer purchasing consumer products than any other type of product. Throughout the essay, I will explore different advantages and disadvantages of this particular inclination of people towards buying consumer goods more and express my opinion on the matter. Firstly, I will point out some of the major advantages of such buying behaviour and secondly, I will discuss what are the possible disadvantages of the same. To begin with, luxurious jewelry can have a long-term benefit as such precious goods are considered to be an asset. Moreover, spending money on such highly cost items can be taken up as an investment for the future. For example, as the price of gold is proliferating day by day investing money on gold jewelry can actually save us from any unforeseen financial crisis. On top of that, with the advent of new technology latest household appliances not only bring us a huge amount of comfort and happiness but also cause lesser harm to the environment compared to the older models. As a result of which buying more consumer products for the household seems beneficial. On the other hand, most of the consumer goods do not have any specific short-time benefit to the buyer. Moreover, such purchase requires a huge amount of money which is arranged either through financial loans or some kind of credit. Also, household appliances require significant amount of electricity and come along with some recurring costs on maintanenance. Consequently, the buyer often faces a financial crisis failing to balance the ultimate cost of the consumer products. To sum up, there are some positive effects of purchasing consumer products, there are some negative effects as well. In my opinion, the advantages certainly overpower the disadvantages as the trend signifies the financial prosperity and stability of the people as they are capable enough to purchase more luxurious goods.