The Influence of Social Media on Consumerism
Social media has transformed consumers’ shopping behavior. Brands and influencers leverage social media platforms like Instagram, TikTok, and YouTube to market their products in a format that is convenient and intimate. In contrast to traditional advertising, influencer advertising causes individuals to feel as if they are being led by their friend who understands them very well, rather than a business.
As a result, individuals end up buying products without questioning whether they need them or not. In a study conducted in the Journal of Consumer Psychology, 82% of consumers had bought something that was endorsed by an influencer (Garcia & Patel, 2023). Although social media can assist consumers in finding new products, it also promotes a culture of continuous consumption. Influencers promote products they are compensated to promote, so one cannot know whether a product is worth purchasing.
A study by the International Journal of Marketing Research revealed that 67% of social media users regretted purchasing something on impulse based on something they had viewed online (Miller & Chen, 2022). In addition, 59% of consumers reported financial hardships due to influencer-induced spending (Davis & Nguyen, 2023). The chaining of aspiration posts, sponsored ads, and influencer partnerships offers a convenient pathway to overspending, which the consumers themselves may remain oblivious to even.
The rise of digital marketing strategies makes it increasingly difficult for individuals to resist temptation, leading to financial strain and an endless cycle of consumption.
Breaking free from the overconsumption cycle, breaks the overconsumption cycle only if individuals shift their perception of shopping. Consumer education is essential to help individuals make informed purchasing decisions. According to the Environmental Sustainability Journal, a report determined that 73% of consumers would prefer to support brands that are dedicated to sustainable and ethical production (Davis & Nguyen, 2023). Another 66% of the customers mentioned that they would be willing to pay extra for environmentally sustainable products (Harrison & Lewis, 2023).
By making more thoughtful decisions, people can reduce waste, encourage ethical business, and get rid of the notion that wealth and consumerism lead to happiness. Companies also have a responsibility to report more about what they are actually doing. The shift towards ethical consumption can only occur if businesses and consumers work together to promote sustainability.
Companies that meet customer loyalty by emphasizing sustainability, living wages, and quality over quantity are more trusted by consumers. Research suggests that companies that make an investment in ethical business enjoy 25% greater consumer trust and repeat purchases (Smith & Lopez, 2023). Governments can also step into the fray by mandating stronger regulations on greenwashing and rewards for sustainable brands.
Change might not happen overnight, but consistent shifts in consumer habits and corporate responsibility can lead to a more ethical and balanced culture of shopping.
