A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use.
George Ritzer is an American sociologist, professor, and author who has mainly studied globalization, metatheory, patterns of consumption, and modern/postmodern social theory. His concept of McDonaldization draws upon Max Weber's idea of rationalization through the lens of the fast food industry. He coined the term in a 1983 article for The Journal of American Culture, developing the concept in The McDonaldization of Society (1993), which is among the best selling monographs in the history of American sociology.
Consumerism is a social and economic order in which the goals of many individuals include the acquisition of goods and services beyond those that are necessary for survival or for traditional displays of status. Consumerism has historically existed in many societies, with modern consumerism originating in Western Europe before the Industrial Revolution and becoming widespread around 1900. In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread "leisure time" at the beginning of the 20th century. In it, Veblen "views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both relate to the display of status and not to functionality or usefulness."
Future Shock is a 1970 book by American futurist Alvin Toffler, written together with his spouse Adelaide Farrell, in which the authors define the term "future shock" as a certain psychological state of individuals and entire societies. The shortest definition for the term in the book is a personal perception of "too much change in too short a period of time". The book, which became an international bestseller, has sold over 6 million copies and has been widely translated.
Overconsumption describes a situation where a consumer overuses their available goods and services to where they can't, or don't want to, replenish or reuse them. In microeconomics, this may be described as the point where the marginal cost of a consumer is greater than their marginal utility. The term overconsumption is quite controversial in use and does not necessarily have a single unifying definition. When used to refer to natural resources to the point where the environment is negatively affected, it is synonymous with the term overexploitation. However, when used in the broader economic sense, overconsumption can refer to all types of goods and services, including manmade ones, e.g. "the overconsumption of alcohol can lead to alcohol poisoning". Overconsumption is driven by several factors of the current global economy, including forces like consumerism, planned obsolescence, economic materialism, and other unsustainable business models and can be contrasted with sustainable consumption.
An experience economy is the sale of memorable experiences to customers. The term was first used in a 1998 article by B. Joseph Pine II and James H. Gilmore describing the next economy following the agrarian economy, the industrial economy, and the most recent service economy.
Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast to investing, which is spending for acquisition of future income. Consumption is a major concept in economics and is also studied in many other social sciences.
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until the 21st century decrease in the cost of pumped storage and batteries, electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response, a type of energy demand management, seeks to adjust in real-time the demand for power instead of adjusting the supply.
Anti-consumerism is a sociopolitical ideology that is opposed to consumerism, the continual buying and consuming of material possessions. Anti-consumerism is concerned with the private actions of business corporations in pursuit of financial and economic goals at the expense of the public welfare, especially in matters of environmental protection, social stratification, and ethics in the governing of a society. In politics, anti-consumerism overlaps with environmental activism, anti-globalization, and animal-rights activism; moreover, a conceptual variation of anti-consumerism is post-consumerism, living in a material way that transcends consumerism.
The target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to the previously intended audience. In marketing and advertising, the target audience is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message.
Revolutionary Wealth is a book written by futurists Alvin Toffler and his wife Heidi Toffler, first published in 2006 by Knopf. It is a continuation of The Third Wave (1980), which itself is a sequel to Future Shock (1970).
Ghana generates electric power from hydropower, fossil-fuel, and renewable energy sources such as wind and solar energy. Electricity generation is one of the key factors in order to achieve the development of the Ghanaian national economy, with aggressive and rapid industrialization; Ghana's national electric energy consumption was 265 kilowatt hours per each one in 2009.
Sustainable consumption is the use of products and services in ways that minimizes impacts on the environment. Sustainable consumption is done in a way that needs are met for present humans but also for future generations. Sustainable consumption is often paralleled with sustainable production; consumption refers to use and disposal not just by individuals and households, but also by governments, businesses, and other organizations. Sustainable consumption is closely related to sustainable production and sustainable lifestyles. "A sustainable lifestyle minimizes ecological impacts while enabling a flourishing life for individuals, households, communities, and beyond. It is the product of individual and collective decisions about aspirations and about satisfying needs and adopting practices, which are in turn conditioned, facilitated, and constrained by societal norms, political institutions, public policies, infrastructures, markets, and culture."
Collaborative consumption is the set of those resource circulation systems in which consumers both "obtain" and "provide", temporarily or permanently, valuable resources or services through direct interaction with other consumers or through a mediator. It is sometimes paired with the concept of the "sharing economy". Collaborative consumption is not new; it has always existed.
Sustainable consumer behavior is the sub-discipline of consumer behavior that studies why and how consumers do or do not incorporate sustainability priorities into their consumption behavior. It studies the products that consumers select, how those products are used, and how they are disposed of in pursuit of consumers' sustainability goals.
Customer cost refers not only to the price of a product, but it also encompasses the purchase costs, use costs and the post-use costs. Purchase costs consist of the cost of searching for a product, gathering information about the product and the cost of obtaining that information. Usually, the highest use costs arise for durable goods that have a high demand on resources, such as energy or water, or those with high maintenance costs. Post-use costs encompass the costs for collecting, storing and disposing of the product once the item has been discarded.
Theories of consumption have been a part of the field of sociology since its earliest days, dating back, at least implicitly, to the work of Karl Marx in the mid-to-late nineteenth century. Sociologists view consumption as central to everyday life, identity and social order. Many sociologists associate it with social class, identity, group membership, age and stratification as it plays a huge part in modernity. Thorstein Veblen's (1899) The Theory of the Leisure Class is generally seen as the first major theoretical work to take consumption as its primary focus. Despite these early roots, research on consumption began in earnest in the second half of the twentieth century in Europe, especially Great Britain. Interest in the topic among mainstream US sociologists was much slower to develop and it is still not a focal concern of many American sociologists. Efforts are currently underway to form a section in the American Sociological Association devoted to the study of consumption.
Hyperconsumerism, hyper-consumerism, hyperconsumption or hyper-consumption is the consumption of goods beyond ones necessities and the associated significant pressure to consume those goods, exerted by social media and other outlets as those goods are perceived to shape one's identity. Frenchy Lunning defines it curtly as "a consumerism for the sake of consuming."
The wanghong economy [internet celebrity economy] refers to the Chinese digital economy based on influencer marketing through social media platforms. Wanghong is the Chinese term for internet celebrity. Chinese wanghong celebrities attract the attention of internet users, which can translate into profit through e-commerce and online advertising.
Livestream shopping is used by brands to promote and sell products through livestreams on digital platforms, often in collaboration with influencers.
