Over-Consumerism and its Impact on Sustainable Business
Year: 2024
Type: article
Study design: Observational Study
Abstract: The research paper tries to explore the meaning of over-consumerism and questions how consumerism driven by aggressive digital marketing and emerging instant credit services in the digital world, in some ways acts as a barrier to the goals of sustainable business models. The paper discusses various factors that drive overconsumption and their implications for economic growth and environmental sustainability. It uses a mixed-method approach with a few qualitative in-depth interviews followed by quantitative surveys of urban as well as semi-urban parts of India to quantify and explore the relationship between impulsive purchasing, borrowing habits, and sustainable business practices. The findings of the present research thus note that digital marketing serves a dual role: on the one hand increasing overconsumption while guiding better consumption habits on the other. By identifying gaps regarding consumer knowledge of sustainability and responsible consumption, the research provides recommendations and insights for businesses and policymakers that could drive forward long-term economic and environmental well-being which will contribute highly to increase the consumer's awareness regarding the practice of sustainability in responsible consumption. Keywords: Over-consumption, digital marketing, impulse buying, circular economy, instant credit services, sustainability
DOI: 10.55041/ijsrem38034
Authors: Megha Jain, Anabel Benjamin Bara
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4403556802