IndexIntroduction to consumerismConclusionIntroductionThe fashion industry is one of the largest industries in the world. Fashionable clothes provide a sense of style and individuality, but they are also becoming cheap and accessible to obtain. “We communicate to some extent through our clothes. [It's] fundamentally a part of what we want to communicate about ourselves,” says Orsola De Castro, French designer (The True Cost). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Because clothing manufacturing is exploited and sold for nothing, the fashion industry has become what is currently known as the Fast Fashion Industry. In addition to the exploitation of workers, fast fashion also has a negative impact on the environment. These are two negative effects of the fast fashion industry, which add to a larger problem, the global epidemic of consumerism. With clothing becoming “more affordable,” the idea of fast fashion has created a market where customers are increasingly attracted to purchase. In 2007 a group of researchers from MIT, Stanford University and Carnegie Mellon conducted a study on why we shop. According to researchers, people spend money until it hurts, and this research studied the brain while the subject was shopping using fMRI (functional magnetic resonance imaging) technology. The results showed that “the pleasure center or nucleus accumbens in the brain lit up while the subject was shopping and indicated that the brain released chemicals that signal happiness and satisfaction when the participant engaged in the act of shopping.” The study goes on to imply that a shopper's mindset parallels evidence indicating that "happiness in shopping comes from the pursuit of wanting something" (Brain). The second part of the experiment studied the brains of shoppers who were shopping at bargain prices. Subjects were shown the price of an item that stimulated pain receptors in the brain, but when the shopper was shown that the product had a reduced price, the stimulation of pain receptors decreased. According to Dr. Tom Megvis, professor of economics at New York University, “part of the joy of shopping is not just having bought something you really like and will use, but also having gotten a good deal.” Most humans are largely motivated by what makes us feel good, especially when it comes to our shopping habits. Therefore, many companies have become particularly interested in understanding how the human brain can help them better understand consumers. "People are quite good at expressing what they want, what they like, or even how much they are willing to pay for an article,” says Uma R. Karmarkar, an assistant professor at Harvard Business School who has PhDs in both marketing and neuroscience. "But they're not very good at understanding where that value comes from, or how and when it's influenced by factors like store displays or brands. Neuroscience can help us understand those hidden elements of decision making." Studies show that customers want a constant flow of updated products in the stores they frequent (Brain). To consistently maintain consumer attention, a company must have the latest fashion trends on the shelves as soon as the product becomes fashionable. This causes the brand to deliver more products faster. “Due to low prices, chase trends.
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