ISSN 2348-3156 (Print) International Journal of Social Science and Humanities Research ISSN 2348-3164 (online) Vol. 10, Issue 3, pp: (296-303), Month: July - September 2022, Available at: www.researchpublish.com
Digital Consumerism: Conflicting Perspectives Dr. Nidhi Tewathia Assistant Professor, Discipline of Economics, School of Social Sciences Indira Gandhi National Open University, New Delhi DOI: https://doi.org/10.5281/zenodo.7006920
Published Date: 18-August-2022
Abstract: We, the people of internet era, read, shop, bank and date online, all thanks to ever growing number of websites, services and applications accessible via different devices that did not exist a decade ago. Today’s consumer, presented with the vast e-market, has been quick to integrate digital tools into everyday life. It can be said that internet usage has fundamentally altered the human behaviour and lifestyle. Over the past decade or so, we’ve been watching the realization of a slow revolution in consumerism not seen since credit and debit cards hit the market. Consumer loyalty is a valuable thing, but never has it been more valuable than in the age of the social network. Consequently, the internet has had an important economic impact, both for individuals and nations, in terms of the new businesses and business models it has brought about. India is a fast-moving nation towards digital economy and this movement has been accelerated with the demonetization of the Indian Currency in the last quarter of year 2016. The paper presents statistics on the internet landscape in India and then dwells on the details of digital consumerism wherein the consumption behaviour has received special importance. The conflicting perspectives on consumption by consumers and producers are presented. These perspectives are found to be unsustainable and environmentally harming. Hence, the paper concludes by throwing some light on a different approach towards consumption which can act as reformatory in this area. Sustainable consumption levels need to be found and working with new technologies more mindfully is significant. Also, the ICT policies in India must also be linked to investment in education in order to develop the necessary skills and raise level of literacy. India needs to employ a proactive approach in implementing smarter policies so that it will be better prepared to respond to future challenges. Keywords: Consumerism, Digital, ICT, India, Internet, Marketing.
I. INTRODUCTION From shopping to entertainment to socialising to managing the household, digital technologies have changed the way we live. If we look at the way internet has changed the behaviour of travellers, we find that today they use their phones to board planes and unlock hotel rooms, monitor devices at home (for example, temperature and alarm settings). Social media hasn’t just changed the way we purchase; it’s changed something integral about the way we communicate. Customised mobile technologies and apps (uber, fasoos etc.) provide services to countless sub-segments of consumers with particular needs. These sub-segments have been developed recently. India’s younger population of early adopters is using internet at an increasing rate and usage patterns are shifting dramatically. The old generation has also started taking interest in internet activities e.g., connecting to old friends through facebook, paying electricity bills, studying their bank account statements etc. As per the ITU report (2016), the Financial Times (FT) 500 ranking, which ranks companies based on their revenues, included several of the new internet companies, such as Amazon.com (ranked 18th), Alphabet (which includes Google, ranked 36th), Facebook (ranked 157th) and eBay (ranked 300th). The FT 500 included over 50 companies from the technology and telecommunication sector, including Microsoft (25th), Cisco Systems (54th), and IMB (31st). Apple, whose key products, including its Iphone, build on the success of the internet, ranked third in terms of revenues, but was touted the world’s most valuable company in terms of market value.
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