Consumerism: Some fundamental insights

This chapter reveals that the term 'consumerism' encompasses a number of meanings which create confusion regarding the term. The discussion that follows, attempts to distinguish the different perspectives regarding the term by presenting its historical development and discussing the three definitions that have marked it. It explores the relationship between consumerism, marketing and corporate social responsibility (CSR). The growth of consumerism has led to the over-use of marketing which provided a flourishing ground for compulsive buying and consumption. There is evidence in the literature to suggest that in an era of increasing social problems and environmental challenges, there is a need for CSR and sustainable marketing. In fact, the second definition of consumerism is inextricably linked with CSR and societal marketing. The chapter is conceptual in nature and provides an in-depth review and discussion of some fundamental dimensions associated to consumerism based on the existent literature. The overarching aim is to provide an insight into the evolution and growth of consumerism based on the existent literature related to the topic. The discussion also focuses on exploring the relationship between marketing and consumerism shedding light onto compulsive buying, consumer attitudes and concerns on the micro consumerism issues, sustainable consumption and sustainable marketing. The chapter proceeds to raise some concerns related to the impact of the global economic crisis on consumerism by using as an example Cyprus based on the author's observations and thoughts. The chapter concludes with a list of suggestions to practitioners and directions for future research.