Youth Consumerism

YOUTH CONSUMERISM

ABSTRACT : “The future is not in the sun, moon, stars or other planets, it’s in our youth.” Thought by thought, action by action they are the pioneers sculpting future of our country. Youth remain no longer conservative but they are swept by the changes in globalization. Kites rise not with, but against the wind and the youth in India are responsible for the unparallel growth in economy, bringing about unpredicted changes and have put India as the drives of the change in the world markets. Consumerism today has gained immense ground in promoting a highly consumptive culture. Young consumers are being targeted as ‘special’ consumers and this impacts their thought processes and consumption patterns.

INTRODUCTION : “YOUTH” This world demands the qualities of youth: not a time of life but a state of mind, a temper of the will, a quality of imagination, a predominance of courage over timidity, of the appetite for adventure over the life of ease. Youth is the stage of constructing the SELF-CONCEPT. The self-concept of youth is influenced by several variables such as peers, lifestyle, gender, and culture. It is the time of a person's life in which they make choices which will affect their future. “CONSUMERISM” Consumerism is a social and economic order that encourages the purchase of goods and services in ever-greater amounts. C onsumerism is the belief that personal wellbeing and happiness depends to a very large extent on the level of personal consumption, particular on the purchase of material goods. The idea is not only simply that wellbeing depends upon a standard of living above some threshold , but that at the center of happiness is consumption and material possessions . a consumerist society is one in which people devote a great deal of time , energy , resources , and thought to “consuming” . the general view of life in a consumerist society is consumption is good , and more consuming is even better .
Youth consumerism The relationship between youth culture and consumerism is rapidly growing stronger everyday. In today's world, many youth cannot distinguish between "wants" and "needs", and our capitalist economy often leads them to the fetishism of goods and services. Youth in our society often have the tendency to identify strongly with the products and services that they consume, and while they have more buying power now than ever before, they are also more gullible and confused. In addition, they are preyed upon by the media due to their desire to become socially accepted. In today's world, youth are a primary concern in our materialistic culture. Indian ‘young consumers’ spending pattern, attitudes and lifestyles have put a great impact on marketers. These young people populate the markets of the future, while having a tremendous amount of discretionary spending power today. The present trend going on in the Indian market is ‘Youth buzzing’. Youth are occupying pivotal positions in the marketing sector duly compensated by higher style of living. The lifestyles and attitudes have brought about a distinct transformation in the market styles compared to the marketing techniques of yester times. Youths in India are already having an enormous impact on the economy, on companies and on culture. Youths are ‘the consumer of today, the growth engine of tomorrow’. This generational shift in attitudes is all the more important because this growth is growing so rapidly. By 2015, Indians under 20 will make up 55% of the population- and yield proportionately higher spending power. This research paper analyses VALS of youth in India.