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Writer's pictureAnnie Yu

The Price of Excess: Understanding Hyperconsumerism and Its Global Impact

Hyperconsumerism is the consumption of goods beyond one’s necessities, often through external pressure in the form of social media and is a cause for concern as it contributes to environmental degradation and exacerbates socioeconomic inequalities, therefore undermining sustainable development and well-being on a global scale. 


Originally it came from the Keynesian economic theory that consumer spending drives economic growth, which emerged in the 1930s. This concept gained significant traction during the Great Depression as a way to deal with its effects, as well as after the First and Second World Wars as economies sought to rebuild and expand. The government has institutionalised this approach, hence boosting demand drives fiscal and monetary policy, which is the obsessive focus of economists, business, journalists, etc. The proliferation of credit cards in the mid-20th century further fueled consumer spending by making it easier for people to borrow credit. Additionally, the rise of shopping malls in the 1950s and 1960s transformed consumer culture, creating a centralised, convenient shopping experience that encouraged even more spending. 


Since then, hyperconsumerism has been widely criticised for its economic, social, environmental, and psychological consequences by artists such as Andy Warhol, Duane Hanson, and intellectuals alike.  


Since the Covid-19 pandemic, the rise of the internet and social media has increased online shopping thereby driving consumer spending. The biggest spending days for North Americans are Black Friday and Cyber Monday and big companies are keenly aware of this trend. 


The pandemic accelerated the shift towards e-commerce, as lockdowns and social distancing measures limited access to physical stores. Consumers turned to online shopping not just out of necessity but also due to the convenience and vast selection available at their fingertips. Platforms like Amazon and social media channels have made it easier than ever to shop online, often influenced by targeted advertising and influencer promotions. 


Black Friday and Cyber Monday exemplify hyperconsumerism, with retailers offering massive discounts and time-limited deals that are strategically marketed to maximise consumer spending by leveraging psychological triggers to encourage this behaviour. In 2023, Adobe Analytics reported a 7.5.% increase in online shopping on Black Friday, with U.S. consumers spending $9.8. billion in a single day. The convenience of online retailers makes it easy for consumers to shop anytime and anywhere, further fueling impulsive buying behaviours. ​Amazon, the largest online retailer, claimed as much as 17.7% of all Black Friday revenue. (Capital One Shopping)


To give an illustration, Apple comes out with new products every year, in particular mobile phones. While the current model you own is perfectly functional, the hype around getting the new model always catches up to you. Who wouldn’t like a teal coloured phone to be paired with the new Apple headphones and watch? 




Simply put, the combination of technological advancements, strategic marketing/publicity and the pandemic's impact has exacerbated hyperconsumerism, making events like Black Friday and Cyber Monday not just shopping days but significant economic events that reflect our modern consumer culture.



Impact


The impact that hyperconsumerism has had on the global population is innumerable and multifaceted. As stated before, some economists believe that it drives economic growth whilst others believe it to be detrimental to society, and with reason. But who is most affected by hyperconsumerism? The answer lies largely with the youth or “under 30”. 


Environmental impact 

Hyperconsumerism leads to significant environmental degradation. The youth, who are becoming more and more aware of environmental problems, are also inheriting a planet burdened by pollution and climate change. The mass production driven by constant consumer demand results in deforestation, loss of biodiversity, and increased greenhouse gas emissions. Industries like fast fashion, which cater to rapidly changing trends called “micro-trends”, are particularly harmful and contribute massively to water pollution and landfill waste. SHEIN, the cheap, fast-fashion giant, leaves about 6.3 million tons of carbon dioxide a year in its trail—a number that falls well below the 45% target to reduce global carbon emissions by 2030, as part of the Paris Agreement, which the U.N. has said is necessary for fashion companies to implement to help limit global warming (Time Magazine). Despite their environmental consciousness, youth and young customers continue to be drawn to fast-fashion due to its cheaper clothing alternatives and social media influence.  


Socioeconomic impact

With the creation of the credit card in the mid-20th century, the borrowing and use of “easy” credit has largely incentivised consumers to take on unsustainable debt levels that in the long-run would contribute to financial crises and recessions. While consumer spending can drive economic growth and create jobs, it also leads to increased personal debt and financial insecurity. Many young people, influenced by social media and advertising, spend beyond their means to keep up with trends, often relying on credit cards and loans. [elaborate and give more examples]


It also exacerbates socioeconomic inequalities as those able to afford such spending often take away resources from those who have need for it. It is a means to show one's social status, especially when publicly displayed goods and services are too expensive for other members. In fact, less affluent people spend a greater percentage of their income on basic consumption, and are therefore hit hardest by the effects of overconsumption, and possibly even indebtedness. An example could be winter outerwear – the society of overconsumption has normalised buying new clothes for every season, which companies will use as an opportunity to raise prices and therefore, profits. However, those of lesser income families will be unable to afford it even if they need it. Hence, an overconsumption of commodities will affect working classes more than it will to middle and upper income earners in the society.


Psychological impact 


The psychological impacts of hyperconsumerism are profound and are largely heightened by social media platforms that continuously showcase unrealistic “ideal” lifestyles and possessions, thereby fostering a materialistic culture where we believe that to possess such things measures our self-worth. Recent tags on social media platforms such as #oldmoney #birkinmom #fyp #OOTD and so much more can lead to audiences having a distorted sense of their own self-worth. This can lead to increased stress, anxiety, and depression among young people as they strive to meet these unrealistic standards. The phenomenon of "retail therapy" is particularly prevalent, where shopping is used as a temporary escape from emotional distress, leading to a cycle of temporary relief followed by regret and financial strain. 


Likewise, hyperconsumerism is a means to show one's social status, that some consumers purchase, own, and use products not for their direct-use value but as a way of signalling social and economic status. The term coined in this specific case is conspicuous consumption according to Thorstein Veblen, a 19th-century economist and sociologist best known for his catalysing of the term in his book The Theory of the Leisure Class (1899). 





Cause


As indicated above, a significant cause of hyperconsumerism, particularly among the youth, is the ubiquitous influence of social media. Platforms like Instagram, TikTok, and YouTube play a central role in promoting consumer culture. Influencers and advertisements frequently showcase the latest trends and products, creating a constant stream of  content that drives young people to buy more in an attempt to emulate these lifestyles. The power of influencers is enhanced by the business model in which influencers are paid to push products, even though it seems like they are just peers or friends giving advice. This relentless exposure to consumerist ideals exacerbates the pressure to purchase and own the latest items, further entrenching hyper consumerist behaviour. 



Framework


The implications of hyperconsumerism are profound and multifaceted, impacting environmental sustainability, socioeconomic stability, and psychological well-being. Addressing these implications requires a comprehensive approach that can be encapsulated in this framework:


R – Research consumer and producer behaviours to address the root causes of wasteful fashion 

E – Evaluate potential solutions on both the demand and supply side

A – Analyse the impacts of change initiatives

L – Limit wasteful consumption and production

I – Invest in future solutions

S – Support each other in changing habits

E – Educate and empower others to make the change


I plan to start a research-based sustainable fashion blog, Wear Aware, that aims to educate and explore the impacts of non-sustainable fashion, and introduce eco-friendly alternatives. In addition, I’ll highlight local sustainable brands in Toronto to showcase how we can incorporate ethical choices into our everyday lives – it’s really not as complicated as the internet makes it sound. Finally, I will start a circular economy for fashion locally, with the aim to expand to other communities once I achieve proof of concept.



Conclusion


Hyperconsumerism has taken over our daily lives, and contending against its impact and influence is no easy feat. The key to combatting and eventually eradicating hyper-consumerism is by changing the culture, which is extremely difficult. Government policies come and go, but changing hearts and minds takes a major concerted effort over a long period of time. Many have already dedicated their social media presence towards this problem. Likewise, I intend to start a blog/website where we can promote sustainable practices and alternatives, reevaluate what “self-worth” really means without the materialism and promote offline activities which lessens the exposure to influencers. 


Firstly we can promote sustainable alternatives such as thrifting, upcycling and second-hand stores which have already gotten a lot more mainstream as more and more people become aware of the issue (use ebay, depop, amazon, …). 


Secondly, encouraging ourselves to step away from social media platforms, whether it’s deleting the app, distancing ourselves, setting time limits or even having a “social media detox” for a couple days, these strategies don’t require anything else other than self-control and additionally, promotes engagement in offline activities/hobbies. 


Thirdly is to lead by example: practising mindful consumption (and control!), prioritising experiences over material possessions, taking online courses about the subject, sharing a more sustainable lifestyle through a blog, digital newsletter, school club, etc. 




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