User:Jqp5962/Consumerism

Consumerism

Consumerism encourages the purchase of goods and services, even if they are unnecessary. Consumerism began with the Industrial Revolution, which significantly increased the supply of consumer goods. Manufactures began opening up department stores in order to encourage the purchase of consumer goods in one place. Shopping became a popular activity, which significantly increased consumer spending.

Financial Impact of Consumerism after the Industrial Revolution

Mass production became widespread among various different types of products including, cars, which were now being mass produced by Henry Ford. The assembly line quickly became the most efficient form of manufacturing all kinds of products, which resulted in a surplus of products. This surplus was met with consumer demand, which meant consumer spending increased to levels of about 80-90% of their income. The introduction of mass commercial television skyrocketed the sale of automobiles and durable goods. The mass introduction of the television motivated consumers to purchase products to elevate their social status. They would often upgrade whatever they currently had, even if they did not need it.

The Impact of Social Media on Teenage Buying Habits

Throughout the 21st century, research has shown that consumers have become more materialistic, meaning that they are spending more than ever. Manufactures have begun to target consumers in order to increase sales. Targeting is often done through social media, where teens spend much of their time. Studies have shown that teens who see their favorite celebrity utilize a product will be more likely to purchase the product as well. Manufactures often partner with celebrities solely for the purpose of reaching their target audience. The study also concluded that companies and products who were promoted through instagram were purchased more, indicating the influencer marketing is successful. Teenagers in particular tend to gravitate towards brands that they follow on social media. They can interact with their favorite manufactures and keep up with the latest products. A study found that teens in the U.S, France, and the United Kingdom were all more likely to purchase from brands that they follow on social media. Social media was found to be positively related with brand relationship quality.

Conclusion

Social media plays a large role in the act of consumerism. Teenagers are heavily motivated by what they see on social media. Studies have already shown that brands who advertise on social media bring in more sales, which motivates other brands to go on social as well. Connections with the consumer allow the consumer to increase their trust in the brand, which causes them to purchase more. Social media will likely continue to influence teens purchasing habits because teens are a major target when it comes to advertising. Manufactures are able to study the influences of social media on teens, which is why they are so successful in branding.

Reading List

Bynum Boley, B., Magnini, V. P., & Tuten, T. L. (2013). Social media picture posting and souvenir purchasing behavior: Some initial findings. Tourism Management (1982), 37, 27-30. https://doi.org/10.1016/j.tourman.2012.11.020

Duffett, R. G. (2017). Influence of social media marketing communications on young consumers' attitudes. Young Consumers, 18(1), 19-39. https://doi.org/10.1108/YC-07-2016-00622

Fakhreddin, F., & Foroudi, P. (2022). Instagram influencers: The role of opinion leadership in consumers' purchase behavior. Journal of Promotion Management, 28(6), 795-825. https://doi.org/10.1080/10496491.2021.2015515

Hudson, S., Huang, L., Roth, M. S., & Madden, T. J. (2016). The influence of social media interactions on consumer-brand relationships: A three-country study of brand perceptions and marketing behaviors. International Journal of Research in Marketing, 33(1), 27-41. https://doi.org/10.1016/j.ijresmar.2015.06.004

Upadhyay, Y., Paul, J., & Baber, R. (2022). Effect of online social media marketing efforts on customer response. Journal of Consumer Behaviour, 21(3), 554-571. https://doi.org/10.1002/cb.2031

Wahab, H. K. A., Tao, M., Tandon, A., Ashfaq, M., & Dhir, A. (2022). Social media celebrities and new world order. what drives purchasing behavior among social media followers? Journal of Retailing and Consumer Services, https://doi.org/10.1016/j.jretconser.2022.103076