The 1920 Consumer Economy

Introduction

Consumerism in the year 1920 really helped in boosting the consumer values and culture, since this was the time when the manufacturers really depended on the consumers. This was consequently the best period in America, since consumers had the total authority of buying products even though they had no money (Payne, 2015). Mass production of products led to consumerism, since the supply was more than the demand. This move forced the manufacturers to come up with different ways of making consumers to buy the manufactured products (Malkmes, 2011).

            Manufacturers were forced to sell the products on credit, in order to allow the consumers to buy the goods. Most consumers would therefore buy the products, whereby they would pay in installments (Payne, 2015). During this period, the consumers became the shapers of the economy, since the gross domestic price (GDP) depended on them. Manufacturers used advertisements as a means of easily reaching most consumers, hence promoting the sales of their products (Malkmes, 2011).

            The buying culture of the consumers changed, after they were allowed to buy the products on credit. This was a move which doubled consumer debts, between the 1920-1930 periods (Payne, 2015). Consumers were on a buying spree during this period, and they did not worry about the cost of the products, guaranteed they could be able to buy them in instalments. Retail shops became consumer favorites, since they had good credit plans, which allowed the consumers to choose the products of their choice, and the credit plans which they were comfortable with during the time (Malkmes, 2011). In addition, during the same period, the number of sales more than doubled, since most consumers had been intrigued by the buy now pay later culture.

            The products which had been expensive previously, were now affordable, thus allowing the consumers to be able to benefit fully (Payne, 2015). Moreover, the manufacturers really valued their customers, since the fate of the manufactured products depended on the ability of the consumers to purchase the goods. Most retail shops treated their consumers very well, thus making them to remain loyal (Malkmes, 2011). The quality of the products was improved, in order to make sure that the consumers did not shy away from certain products. This was the period when manufacturers were begging the consumers to purchase their products.

            Consumerism changed the buying culture of the consumers, thus making them to adopt to the new forms of life, a move which resulted into modernism (Payne, 2015). For instance, most people replaced house work with machines such as vacuum cleaner, which helped in cleaning the house. Most people became concerned with their own affairs, a move which resulted in the shifting of morals, since most people decided to lead their own types of lives. Consumers picked up a culture of buying anything new in the market, in order to either make their housework easier, or to make them enjoy themselves (Malkmes, 2011). Advertisements increased, in a bid to lure customers into buying the products by the manufacturers (Payne, 2015). The advertisements were only meant to attract the attention of the consumers, but they did not portray the quality of the products.

Conclusion

This was consequently the period when the Americans enjoyed shopping, since the manufacturers really respected them. Consumers were the center of the economy, hence the manufacturers had to do their best in order to entice the consumers into buying the wide variety of products which had flooded the market. The consumer culture changed making them to become spendthrift. The buy on credit approach was very significant as it help in luring the consumers into buying a lot of products. Advertisements were also very effective, as they helped in attracting the customers. Most consumers would therefore buy products which were being advertised, only to realize later that they were not of a good quality (Malkmes, 2011). Advertisements influenced the morals of the people, making them to only do things to their own advantage, and not to the advantage of other. Most Americans consequently became self-centered, and they would therefore do things in order to fulfil their own desires.

Reference

Payne, P. G. (2015). Crash!: How the economic boom & bust of the 1920s worked

Malkmes, J. (2011). American consumer culture and its society: From F. Scott Fitzgerald's 1920s modernism to Bret Easton Ellis'1980s blank fiction. Hamburg: Diplomica-Verl.