With our surroundings modernized and business becoming global, brands are just a click away and have outlets everywhere. On holiday, when making plans, the first thing that comes to mind is that we can visit a mall and enjoy the rest of the day. Also, people always set financial goals according to an object of their choice. Whether happy or sad, it is a matter of celebration or a fight with someone; consumers never fail to get their hands on a particular product. This is what stands as consumerism. Moving forward, here is a full-fledged definition of the same:
“The practice of consistently consuming and keeping up with the same habit, without focusing on the importance of buying or owning stuff. Also, these people prioritize their wants more than their needs and tend to define their own social identity based on the things they own.”
In the long run, this gives rise to a certain behavior, with four different types.
- Complex buying
- Habitual buying
- Dissonance-reducing buyers
- Variety seeking buyers
In this article, you will focus on how companies use emotional branding to push products into the carts of individual consumers. However, the term or intent they use to make the consumers behave accordingly is “self-love.”
The Thinking Behind Consumerism
Have you ever thought about “how can it be possible that a fully grown-up person who is also earning on their gets convinced by brands and their vicious marketing strategy so easily?” Well, that is where brands are trying to influence and manipulate human psychology and their mentality towards impulsive/compulsive buying. The terms might look similar and get used synonymously, but they differ. And can be termed the love child of modern-day target marketing and the negative effects of consumerism.
Factors Influencing Impulsive Buying And Compulsive Buying – Consumerism
Impulsive buying is largely unplanned and thoroughly based on external matters. Since the early 1940s, researchers have tried to understand the triggers behind impulsive buying. And they have studied the particular from different perspectives like:
- Persuasive communication
- Advertisements determining consumer behavior
- Emotional resources
- The theory of cognitive current and social judgment
- Lack of rational thinking
Impulsive buys are harmless if done within budget, where the consumer knows their limits. However, such buying tendencies indicate poor decision-makers who easily fall prey to others’ manipulation.
On the other hand, compulsive buying has its roots grown deep and, most of the time, is related to the childhood traumas and anxiety of the consumer. When going through a sudden change in mood, planning to improve their self-image to the outside world, or coping with work-related stress, the person starts investing and bringing home products they barely need. Also, compulsive buying can lead consumers to feel powerful emotions like guilt, remorse, and shame. Ultimately, these people end up overspending and fall prey to financial troubles.
Consumerism – Main Facts
In 2019, with the pandemic hitting the world, there was a sudden rise in impulsive/compulsive buying cases. The consumers behaving accordingly are under stress or anxiety and use shopping to cope with their inner demons.
Though the reasons behind such an act are already discussed, the points mentioned below have the factors listed in detail:
- The consumer is a poor decision-maker and gets influenced too easily.
- They fail to accept the temptation of losing out on a particular deal.
- These people habitually collect lookalike objects or parts of the same collection. And they never stop until they accomplish the goal.
- Childhood trauma or inability to get what they wanted to make them like this, and now, when they have the money, these people treat themselves in the best way possible.
- Also, a sense of validation, being able to get recognized for the products they use, helps boost the inner ego within a person,
- These people are always searching for happiness in material gains and do not have any humans to rely upon.
Brand Marketing Strategy And The Concept Of Self-Love
When a person is weak from the inside and is looking for validation everywhere, it gets easy for marketers to tap into this segment and make the consumers act accordingly. This also paves the way to the concept of hedonic happiness, where the person believes buying a certain product will bring them mental peace, social acknowledgment, and a pleasurable experience.
Marketers know that these consumers are not thinking rationally and are focusing on their wants more than their needs. That is why brands develop certain strategies that act as natural triggers; the rest is history. Below, you will get to find more about all those triggers of consumerism:
Introducing Limited-Period Deals/Offers:
We live in a mobile-first world, and push notifications are always easy to send and read. E-commerce brands have an app-based presence and use the interface to introduce attractive deals and offers for a limited time. That way, those falling in the category of impulsive/compulsive buyers find it a necessary task that they shall abide by. Also, with AI tracking the search-related whereabouts of a person, it gets easy for brands to promote the concept of self-love just before the birthday or anniversary of a targeted consumer.
Creating A Buzz In The Market:
Advertisements are game changers if planned carefully. You will notice eminent smartphone brands marketing their products regarding the camera and battery. They know that people love to take pictures and establish daily whereabouts in front of the world. Also, the AI keeps track of those into hardcore gaming and shows them ads.
Using Techniques Like Emotional Branding:
When all these are over, the brands have their ultimate tool: emotional branding. The products are presented in a way where people connect at different levels. Either in terms of childhood nostalgia or being able to express oneself.
The brand and consumers must be on the same page for the business to run smoothly. However, with the rising competition and budget crunch, it s getting difficult for businesses to have their turnovers sorted. That is why marketers do come up with such an act. Also, looking at the other side of the story, we live in a fast-paced world, and the intensity of complexity is quite high. Thus, a person self-exposed to the harsh reality at a very young age, giving rise to trauma and anxiety. This also marks the very prime reason for consumers and their impulse behavior when treating themselves with love.