Consumer Consumption Of Goods And Services

891 WordsApr 17, 20164 Pages
Worldwide in the twenty first century, consumer consumption of goods and services has been on the rise, due to an increase in population size and income. This growth is most easily noticed in the consumer electronics industry, where a high demand for aesthetically pleasing devices that offer more cutting edge technology and functionality, in an ergonomic physical package and user friendly interface, has led to the rapid growth of companies such as Huawei. To the point where there has been a saturation of the market, with too many devices being released yearly by multinational corporations such as Samsung and Apple, in their attempts to capture the imagination of a global audience and dominate the market. This has brought about an ever competitive economic climate and multinational companies have been forced to adapt or die. Though this change unfolds right before our eyes at a nearly frightening pace, it presents a growth opportunity for those who seek it. Just as the consumer electronics sector is booming, there’s been a proliferation of communications technology, with many people having internet access, satellite TV/cable TV, etc. To the point where survival means staying connected, keeping your finger on the pulse, so to speak. In this ever-connected world, social media has taken a leading role in keeping the population informed and companies have been forced to make their presence felt on platforms such as Facebook and Twitter. To try and connect on a personal level, not
Open Document