Consumer goods have become the most important part of people's lives. Do the advantages outweigh the disadvantages?

In today's world, possession of materialistic

goods

has become an

Integral

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integral

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part of a person's life.

Consumerism

has its own benefits and perils.

This

essay will critically analyze the advantages and disadvantages of the habit of possessioning more and more consumer

goods

. Undoubtedly,

consumerism

has its own advantages.

Firstly

, to cater to the ever-increasing demand

of

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for

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consumer

products

, the production and supply of these

goods

like mobiles, computers, and designer clothes have increased. So multinational companies manufacturing these

goods

are making huge profits, a share of which is helping the economy of the country.

For instance

, the sales of an Indian mobile company with a public-private company partnership

has

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have

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crossed the 100 crave mark, which has helped the Indian economy in the global market.

Moreover

, increased demand for these

goods

has led to

a

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stiffer competition among manufacturers, thereby resulting in a significant decrease in the cost price of the

products

. To illustrate, over the

last

decade, the price of mobile phones has decreased steadily by about 5%.

Finally

, increased demand for materialistic

products

has given rise to various shopping malls, supermarkets, and online stores leading to increased

jobs

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job

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prospects for the local people.

For example

, our line shopping services have given employment opportunities to over 30% of the youth in urban India.

Moreover

, just as a coin has two sides,

consumerism

has its own perils.

To begin

with, people often end up buying unnecessary

products

after being lured by attractive advertisements.

This

has led to a dangerous hoarding mentality.

For example

, a recently conducted survey showed that in an average household in the United Kingdom, 35% of the

products

purchased are never used!

In addition

, possession of these

goods

has become a status symbol for the consumers who are willing to run into

debts

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debt

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in order to purchase these consumer items. A survey shows that

the

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credit card debts have risen by 60% in urban India, and the inability of repaying often leads to total consequences like suicide and bank forgery. To conclude, I firmly believe that the advantages of

consumerism

clearly outweigh the disadvantages.

Instead

of criticising

this

trend, people should curb their mentality of buying more

goods

than necessary so that a balance can be struck.