In order to understand how consumerism shifted to where it is today, it is essential to look at historical, economic, social, and psychological factors.
Consumerism, as we know it today, began in the late 1600s in Europe. Afterwards, in the 1700s and 1800s consumerism intensified and became a major social phenomenon in which product consumption became an important task for most people in societies. There were many historical events that have deepened the impact of consumerism and shifted it in different directions. Both the first and the second industrial revolutions had an immense effect on consumerism. Due to economic freedom, factories were able to produce countless inventions and products on a large scale which have led to consumerism as it created a system in which people could afford a high variety of products. Consumerism further developed during the 20th century, even though it slowed down during the first and second world wars, it flourished in the 1950s and 1960s. This period is often called the golden age of consumerism due to effective marketing campaigns. Furthermore, mass production, outsourcing, the hippie movement, and fast fashion have further contributed to the shift in consumerism over the years. Fast fashion offers new products at a high speed to meet consumer demand. Never before in human history has fashion been so accessible to so many people across society. Additionally, modern globalisation, terrorism, and the financial crisis of 2008 also affected consumerism and consumerism shift.
The current pandemic crisis, which has brought upon an economic recession is having a huge impact on consumerism as consumer attitudes, behaviours, and purchasing habits are changing. This is the 12th recession in the past 100 years. This had a huge impact on the consumerism shift that we are seeing today. People are purchasing more consciously, buying local, and are embracing digital commerce. There are many social factors that contribute to the consumerism shift, however, it is essential to mention the most relevant and most common factors are fear and eco-anxiety due to financial and environmental uncertainty. People started to transform their anxiety into action by protesting, organising strikes, and raising awareness of the negative impacts of global warming.
Sources: History of Consumerism, 2020; Future Consumer 2022,2020
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