User:Samqtrmain/sandbox

Smart Consumerism
With today’s rapidly advancing society, the cost of living is continuing to go up - along with our consumer spending habits. We buy many goods and services daily, making us all the drivers of our market consumption. The cost of living can have two impacts where the cost of living declines (deflation) due to market forces or the cost of living rises (inflation) due to market. The cost of living is driven by a calculation that considers many factors such as food, fuel, and housing prices. These are basic necessities that we need to purchase to fulfill everyday needs. We also fall victim to making purchases that we don’t necessarily need but make us happy (what we want versus what we need) or for the sake of convenience. As often as we try to attempt to make conscious buying decisions, we like to live in the present and buying "things" can provide immediate gratification. There are many consumers that choose to spend money on products and services that not only do not fit into their budget but are unnecessary as well, essentially having people live beyond their financial reality. It is not uncommon for society to make assumptions about others lifestyle and values based upon our purchasing habits, creates a "keeping up with Jones" effect. As described by Historian Peter Stearns, we as a society tend to form our life goals through the purchases of goods we don’ actually need. Unfortunately, it is hard to be a smart consumer in a society full of temptation. When making purchases being mindful of where the materials came from, where it was produced and the impact it can have on the environment, are qualities that make-up being a smart consumer. Being more conscious and away from our spending habits will have a positive impact by getting the most out of our spending. Smart consumerism is emulated by people in society who value their dollar and want to save their money. Dependent on how we choose to organize and manage our lives, it sets the tone for the ways that we can achieve smart consumerism. Impulse buying happens very quickly and is based on emotion. One way to be a smart consumer is by avoiding these impulse purchases. Constantly, brands and companies are trying to make us believe we need things we really can do without, attempting to create a demand and providing a solution for something consumers did not even know was a problem.. Scholars, Rook and Fisher confirm the notion that there are relations between negative outcomes and our impulsive purchasing habits. Buying the first thing we see is often not in our best interest, taking into consideration if the convenience is worth the price. As a smart consumer, shopping around and look for available deals to assure you find the best price for what you want to purchase. We are always able to find a product for a cheaper price if we take our time to research.

Social Media Effects
Social media platforms are Web 2.0 Internet-based applications that allow individuals to create, collaborate, and share content. Social media and consumerism have a unique relationship. Social media continues to impact the lives of many from the way that we share information, stay informed, shape our perceptions and is transforming the way we make purchases, fueling the idea of consumption. Social media platforms such as Facebook, Twitter, and Instagram provide us free outlets to access information at any time. Facebook has approximately 2.2 billion daily users, while Twitter has 321 million, and Instagram has 1 billion. Daily, there are individuals joining and using social media platforms. Our buying habits can be altered by our social media usage. Through these social media platforms, we are able to interact with not only brands but others a well. In reverse, social media interacts with us, responding to our searches by providing specific and targeted brand advertising. We are able to ask questions and do thorough research on products we are interested in buying based on reviews and comments. Social media evokes consumerism because of our ability to have direct access to pictures, product descriptions, and reviews. According to Forbes, 72% of millennials are influenced heavily by social media - mainly pertaining to beauty and fashion. Influencers on social media hold a lot of power over the hearts and minds of their followers. What we post on our social media pages when we buy ourselves something new, what we’re eating, our outfit for the day can appear to be harmless. Our desire to overshare on social media is on route to becoming our primary source of over-consumption that is not only undermining our bank accounts but our mental health and the world around us. The effects of social media do not have to be negative. In fact, can be used to create better buying and spending habits. When we go shopping, often times we already have an idea of the brand and a generalization of the product specifications were looking for. Instead of going to the store we are about to access brand websites and social media pages to get the information we need. Social media can help find us what we’re directly looking for and eliminate the need for physically going to the store and saves time. Before, there was no option other than to go to various different stores to find different alternatives. We also would have to rely on a salespersons word and testimony about the products you are interested in purchasing despite if it is good or bad. Social media supplies us with the opportunity to become more aware and informed now due to real people and online reviews and photos. Like previously mentioned, the way we choose to organize our lives will dictate how and what we spend our money on despite all the constant influences around us.

Influencer Engagement
Influencers on social media platforms are endorsers that shape attitudes through content creation on sites such as Twitter, Facebook, Instagram and Youtube. The political economy of the media is how they shape who we are, what we buy, what we think, and how we behave and Influencers are key to endorsing that notion. Consumers are drawn to certain Influencers for their own respective reason and hold their opinions/reviews about a product, service, or travel destination to a high degree. Consumers have become overwhelmed, and the more information we have, the less we trust it, creating a transparency paradox. Too much information is overwhelming to users. In contrast, too little information makes informed buying decisions a difficult task. With all the visual content and media we see on a daily basis becomes overwhelming it is hard to identify sources we trust. Consumers take Influencers opinion as a trusted source when considering purchasing. Influencers help consumers identify with products, places of travel and services that would add to their lifestyle. When Influencers are working with a brand and promote a product, it is usually with a discount code. If it isn’t, then naturally people will go check out the site. One of the most well-established influencers on social media is Huda Kattan with her makeup tutorial videos and her self named makeup brand Huda Beauty. Most websites have clickwrap agreements, which are digital prompts that enable the user to either agree or don’t agree with the site policies. We as consumers fall victim to signing up for discounts and deals off-site purchases. As consumers, we should always read policies and tradeoffs by giving up information because influencers endorse it. We give up our information to purchase things we don’t need and get discounts on products, services, and trips for entertainment and showing off purposes. As informed consumers, we should be able to know more about the ways our information is used in exchange for discounts.