Consumerism financial definition of consumerism
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consumerism an organized movement to protect the interests of CONSUMERS by forcing companies to behave in a more socially responsible manner. The movement developed in response to the increasing technical complexity of products, the growing power of big businesses and environmental pollution. In many countries there are now consumer bodies, such as the Consumer Association in the UK, which provide product-testing facilities and publish comparative information on products through magazines such as Which. See GREEN CONSUMER.
consumerism an organized movement to protect the economic interests of CONSUMERS. The movement developed in response to the growing market power of large companies and the increasing technical complexity of products. It embraces bodies such as the Consumers’ Association in the UK, which is concerned with product testing and informing consumers through publications such as Which? Consumerism has been officially incorporated into British COMPETITION POLICY since the 1973 FAIR TRADING ACT. See CONSUMER PROTECTION.