Effects of Social Media on Consumerism
Introduction
Many people argue that social media is a platform critical for social interaction and that is a user contribution in assisting online buying and selling of products and services. A concept fixed to social commerce illustrates the essence of social media to networking and e-commerce transactions. However, few people will understand the impact it has on consumerism especially in changing personal consumption expenditure. Social media primarily leads to increased consumer spending which individuals possessing strong online network indicating higher credit card debt. School of Ideas, in its ability to examine the history of Consumerism, denotes it as a term referring to the promotion or protection of the interest of the consumer. Has it effects back to social media which encourages the continuous acquisition of services and goods in ever-increasing amount. Indeed, it has adversely impacted on personal expenditure consumption which influences their satisfaction based on search information that is alternatively evaluated and impact on the next move of the consumer.
One of the primary resources linked to the impact of social media on consumerism specifically on increased consumer spending is The EPA national overview process based on facts and figure on materials, waste and recycling process in the United States of America. Via a calendar represented in 2017 by the United States Environmental Protection Agency, a total generation of MSW; Municipal Solid Waste, estimated 267.8 million tons as of 2017which is equivalent to 4.51 pounds in a day per person. EPA refers to the trash as items consumers throw, raise concerns towards the practice which has been facilitating with waste management hierarchy. A piece of information furthermore analyzed by the Bureau of Economic Analysis through a survey done to various consumers, it was noted that social media has necessitated their purchase decision and post-purchase evaluation process of the amount spent on services. Bureau of Economic Analysis in their ability to identify personal consumption expenditure based on the core types of products illustrate that indeed social media allows consumers to access the types of trending goods and services which can be purchased within a short period. Through social media, for instance, individuals looking for a specific set of information can primarily access the various sites with no cause and what does that mean to them? To satisfy their desires and demands based on the advertised agenda, the can purchase what they want within a span of a short period.
The Atlantic video, for instance, indicating, “America’s Dopamine-fueled Shopping Addiction,” furthermore describes the relationship between social media and consumerism which is highly termed as shopping addition. Social media profoundly has an impact on people’s way of life and that it has even provided room for streamlining any addition knowledge an individual would need based on their interest. Shopping addiction is the aspect of social media is intertwined to the various roles necessitated by social media. Social media, for example, has the power of information. Individuals can grasp the exact store the services and products are based which increases their spending. Social media sites such as Instagram, YouTube, Facebook and Twitter among others can be accessed at any particular time with individuals acting in due course. The whole process with no glance at once can necessitate shopping addiction. Consumers will spend tons of money shopping for present products which can further be seen as Buying-Shopping disorder (BSD). Consumers indicating shopping addiction have often explained how they saw a certain product online and would opt to purchase it within a short period.
Social media has also intensely impact on consumer spending as a number of them can comfortably interact online and share their stories depending on the various brands they have received. In such cases, consumers have had standpoints and create a connection with the various types of stores they would like to purchase the products. In relation to personal consumption by major types consumption as incorporated in the Bureau of Economic Analysis, it is evidence that the types of products bought by different consumers are as a result of videos, post or pictures in some cases seen their beloved ones posting. And in the digital way of consumption, as elaborated by the EPA, average groups of consumers tend to follow the lives of celebrities in social media which serves as influencing factors of the types of goods and services they would want to purchase. Frequent acknowledge of the most expensive purchased clothes has facilitated continuous purchase which is termed as online shopping addiction.
Social media platforms such as Snapchat give room to the users to share information depending on the collection they have particularly. In such cases, the posts are pictures and texts in addition to gifts issued out to those who might have purchased the product. Such aspects indeed illustrate how social media has highly affected consumerism specifically on the aspect of personal consumption expenditure. As personal consumption tends to measure gross domestic product collected in addition to consumption, the Bureau of Economic Analysis has furthermore taken the road to find out what are the primary factors increasing consumer spending. Other than interest rates, price level and expected future income, the additional factor can be termed as social media. According to the School of Ideas inability to incorporate the history of Consumerism, denotes it as an economic and social order that gradual determines acquisition of goods and services which, is profoundly necessitated by social media.
In conclusion, social media, applications and websites that provide users with opportunities to create and share contents or rather to participate in social networking have a paramount impact on consumerism. Even if consumerism has various positive outcome elements such as the creation of jobs, increase in economic output and wealth for companies in addition to necessitating a large variety of goods and services in the market, it indeed affects consumer spending via personal consumption expenditure facilitated after random pictures, posts or videos represented depending on the item at hand. For instance, social media allows consumers to purchase information directly from different stores with some indicating delivery services. The whole process for some users has lead shopping addiction increasing their spending.
Works Cited
- Bureau of Economic Analysis. Personal Consumption Expenditures by Major Type of Product. To access the table, click Section 2 > Table 2.3.5.
- National Overview: Facts and Figures on Materials, Wastes and Recycling | US EPA.
- The Atlantic (video). America’s Dopamine-Fueled Shopping Addiction.
- School of Ideas (video). History: Consumerism.