The history of consumerism, when studied, reveals many key events and changes that play a significant part in the role of consumerism in the modern economy.
It is no secret to anyone that consumerism drives the economy of the US and of the world.
Businesses have spent the last decades designing their "product" to sell in the new age of commerce.
We have been catapulted out of the new age to a different age.
Initially, consumption was for survival only.
It slowly made the transition to a time where people wanted possessions and had the means have them.
Before we consumed, and now we are consumers.
Consumerism and materialism have taken on many personalities throughout history.
All along, it has been a method used by the higher classes to keep the lower classes down and oppressed.
It is no different now.
With consumer credit providing access to the masses, it is sometimes difficult to tell who the wealthy are.
We have seen some major contributors to the growth of consumerism including the industrial revolution and the introduction of mass production.
The availability of consumer credit has been key.
Any new development or technology that improves access of the consumer to the product is a contributor.
Everything changed in the fall of 2008.
Businesses will have to change to respond to the new dynamics of business.
They will have to find an effective way to manage risk, implement change and integrate creativity.
It will not be easy, but it must be done.