Evaluation of Consumerism on Sustainability

Abstract

The following article sheds light on consumerism and its effects on sustainability within global businesses. The concept of consumerism refers to the socio-economic force that encourages the acquisition of goods and services which are eventually beneficial for business companies. Consumerism is highly influential towards the sustainable development of organisations as consumerism leads to more production. Hence, higher resource consumption reduces the rate of production and waste as well. Therefore, consumerism brings waste management which leads to sustainable development. Secondary methods such as articles, journals, news reports, and others are used for data collection in this study. A large number of articles are identified which provide relevant data about consumerism and its effects. All the results and findings are thematically presented as well as briefly discussed for a better understanding. A total of four themes are created based on the findings in which the results are elaborated where the researcher has achieved the objectives. As a result, it is identified that psychological factors, economic factors, social factors, personal factors, and cultural factors are the specific factors that influence consumerism. Further, consumerism has some positive and some negative impacts on sustainability. The demand of customers enhances organisational sustainability as well as higher sustainability leads to the depletion of natural resources. A brief discussion about this aspect is presented in this particular article Keyword : Consumerism, Economic Stimulation, Expensiveness, Profit, Sustainability