Personalization, personalization, personalization. It’s the marketer’s buzzword of the moment. Marketers are convinced that more than 70% of consumers demand it, and they’ll walk if they don’t get it. What personalization means exactly is not always clear. If it means you don’t have to re-enter your credit card on your 5th purchase from a website, […]
Category: consumerism
The Problem with Consumerism
Consumerism, a historically recent economic concept, was born out of a need to utilize the excess industrial capacity post-World-War-II and to prevent a return to the hardships of the Great Depression. Today, it represents more than 70% of American GDP, creating a fragile economy reliant on high consumption levels. Economic policies since the 1980s have gradually eroded middle-class purchasing power, placing added risk on ordinary people. The rise of AI, predicted to remove 300 million jobs worldwide, further threatens this consumerism-based economy.
