#conspicuousconsumption

17 April 2024

When I was in college, a subject that a teacher spoke of was conspicuous consumption. That is buying and using things of greater cost than is actually needed. It is a flaunting of wealth so that other people see that person's affluence. We mostly all do it I suppose to a certain extent, but some people take it to a new level and will often borrow money to appear affluent. Borrowing money to have stuff that you don't need just to impress someone that you probably don't know, doesn't make any sense. I mean, what's the point? Wanting other people' envy is not a good reason for spending.

EMULATION IN FASHION WORLD

Everybody cannot afford conspicuous consumption. This gives rise to the next phenomenon, the urge to show off i.e. persuasive consumption. Since not everybody has pecuniary power or an income to conspicuously consume i.e. they cannot lead but they can follow the leaders. This is how conspicuous consumption gives rise to Emulation.  To emulate means to imitate or to try to be like to strive to be…

CONSPICUOUS CONSUMPTION IN FASHION WORLD

Conspicuous consumption is the consumption of goods and service on a lavish scale. The purpose and effect of such lavish consumption is to demonstrate pecuniary power and status in society. Sociologically to the conspicuous consumer, such public display of discretionary economic power is a means either of attaining or maintaining a given social status. Conspicuous consumption denotes the act of…

We buy stuff we don’t need...with money we don’t have...to impress people we don’t even like!

https://www.computerweekly.com/opinion/The-more-an-Apple-product-is-worth-the-more-you-want-one

In this article it talks about how Apple uses consumerism to become the world’s first trillion-dollar company in the world. Consumerism, “the steady acquisition of material possessions, often with the belief that happiness and fulfillment can thus be achieved.” (Conley, 2017. p. 107). Apple products are one of the number one sought out technology products from Iphones, Macbooks, Ipads, Apple watches, and IPods. Since everybody wants them, apple has been able to inflate the prices every year and bank off the profits, just because the products are becoming more desirable, not necessarily because the item is worth the amount of money consumers pays for them. This is a good example of conspicuous consumption because consumers are, “spending money on and acquiring luxury goods and services to publicly display one's economic purchasing power. To the conspicuous consumer, such a public display of discretionary economic purchasing power is a means of either obtaining or maintaining a given social status.” (Jacobson, 2019). This could also be an example of invidious consumption because Apple does promote to buy a new Iphone every year,  just to be the envy of your friends. Invidious consumption is “the ostentatious consumption of goods that is meant to provoke the envy of other people.” (Jacobson, 2019). Lastly at certain times of the year Apple promotes (PRODUCT)RED which is a special edition red iphone that consumers can contribute to the global fund to fight AIDS when these products are purchased, this could be an example of conspicuous compassion which is “the deliberate use of charitable donations of money in order to enhance the social prestige of the donor, with a display of superior socio-economic status.” (Jacobson, 2019)

Conley, D. (2017) You May Ask Yourself. New York City: W.W. Norton & Company