The Struggle Between Consumerism and Sustainability

Consumerism is an economic theory that states that a consumer’s well-being is dependent on consumer spending, which in turn boosts economic growth.

In simple words, it’s basically the desire to buy something you already own, because you feel the need to buy newer better models of what you already have.

Consumerism is a good thing when you think about it economically. When consumers’ demand is on the rise, competition for better, faster products is high, and employment rises, fuelling the entire country’s economic growth.

But it is consumerism itself that has given birth to some of the biggest demons we have to fight – fast fashion wastage, pollution, scarcity, poverty, and of course climate change.

It is a question to ask ourselves, do we sacrifice sustainability for consumerism? Can they ever coexist in peace?

It depends. Let’s have a look at them separately.

What are the Pros and Cons of Consumerism?

Capitalism encourages people to spend beyond their means, in order to keep the economy thriving. This comes with its own set of pros and cons.

Pros:

1. Boosts economic growth: We all know that demand and supply need to be working in a continuous cycle of growth to boost the economy. As demand grows, supply increases to meet the demand, which increases demand further. This ongoing cycle is necessary for a healthy economy, and it happens due to consumerism.
2. Increases consumer choice: With an increase in supply, competition increases. Competitors try to outdo each other in the market, providing the customers with endless choices. While it can be debated if this is truly a good thing or not, customers are offered so many choices, that they are basically spoilt for it.
3. Competitive pricing: With increased competition, it is important to attract customers with the lowest prices, which in turn is a good thing for customers, as a monopoly cannot be created, and customers cannot be taken advantage of with high prices.
4. Increases employment opportunities: Consumerism increases the supply of services of goods, thereby creating a cycle of employment opportunities. Investments increase, factories go up, and jobs come in demand. Entrepreneurship is also on the rise due to consumerism, increasing innovation, and creativity in the economy.

Cons:

1. Boosting economy, decaying environment: While the forces of demand and supply help boost the economy, it comes at the cost of destroying the environment. Exploited workers, resource scarcity, pollution, and increasing calamities, can all be related to meeting the needs of consumerism.
2. Increasing debt: With the increasing need to always purchase the newer and better models, comes increasing bills. Credit card debt is at an all-time high, with people literally spending more than what they earn. Capitalism and consumerism have increased public debt to a significant amount.
3. Elitist society: People are encouraged to buy new to show off their status symbol. Class divides are clearer than before, and families are encouraged to spend more than what they have to not be deemed to be “poor” in front of society.
4. Increasing health problems: It is not a surprise that with increasing debt, comes increased stress levels. Stress is also increased when someone feels “left behind” or is having to use old products instead of new ones. Fearing what society will think, public image, and the need to show off status – all increase levels of stress, ending up in declining health.
5. Never-ending cycle: The fight for newer items is never-ending. Once the new model is obtained, another new and improved model will be out. Fulfillment is very short-lived when it comes to materialistic consumerism. People get harder to please, and life starts to become all about the materials one possesses.
6. Low-quality products: Since it is expected that the newer model has to be purchased, products are coming with a very low durable life. They are meant to work only for a couple of years, forcing people to upscale after a few years. This then increases waste in our already filling-up planet.

What is Sustainability?

In simple words, sustainability is a social goal, wherein the resources on earth are allowed to co-exist peacefully, without damaging the ecological balance. It is the ability to live using optimal natural resources while leaving enough resources for future generations to live.

It is simply the act of living in peace, without overdoing anything. We use only what is needed, and not what is wanted. Waste would be minimal, pollution reduced, enough resources will be allocated, and no damage to the environment will be caused.

Can Consumerism and Sustainability Coexist?

This is a very interesting question to think about. Consumerism is all about wants. It’s about making people think they are missing out on something significant if they don’t buy the newest item on the market. It’s making people want to buy, it’s materialistic in nature.

On the other hand, sustainable living is less aggressive and less about fulfilling every want. It’s very different from consumerism, and it would be interesting to match the two theories together.

For instance, climate change is happening right now. People are worried about climate change and rallying for a change politically. There would be those who will only buy from eco-friendly companies or those brands that are ethical in their making.

If you think about it, in this case, sustainable living is being wanted. The demand for ethical goods and eco-friendly products is on the rise. This is consumerism, but for sustainability.

In other words, sustainability can be seen as an economic opportunity for the future. People are willing to pay extra if the company is certified ethical or eco-friendly. Organizations that support local causes and those that are doing their part for the environment are held in high esteems. This is also known as green consumerism or ethical consumerism.

Green consumerism is when consumers willingly make a purchase decision that will have a positive ecological impact. It means to shop with sustainability in mind. This can even mean not buying anything at all.

Reusing what you already have, buying second-hand, supporting local shops, being mindful of the waste we produce, and not buying to show off social status symbols, are all examples of ethical consumerism. It is a slow uphill battle, but it is rising. Consumers are being more educated on their choices and the impact they have on the environment.

We may have a long way to go as the fight is against cheap goods and increasing demand, but there is a slight ripple of change happening. If businesses take note as early as possible, they can make use of this economic opportunity of sustainability, and still give in to the demands of consumerism. It just has to be played right.