What Is Consumer Awareness?

Education News | Jun-26-2021

What Is Consumer Awareness?

When India in the 1990s opened its economy to the global marketplace, many Multinational companies (MNCs) rushed into the Indian market to pursue the country’s middle-class consumer and form a solid and irreplaceable name for them in the consumers' mind but eventually, they saw that the position of the consumers was not how they had portrayed or imagined. The impact and awareness of Consumer rights are very important towards children and teenagers as they are less aware of their consumer rights.

Amazing Things will happen when you listen to Consumer- Jonathan Midenhall

Pros and Cons of Consumer Awareness

Consumer awareness in India has grown substantially, and the materialistic values prevalent in the country's people have been rising higher each day. This desire for materialistic things has ultimately overshadowed the need for savings among people. Because of this, the priorities of people have shifted from education, healthcare, and other daily necessities towards the luxurious and less important aspects of life. Consumerism is often associated with globalization in promoting the production and consumption of globally traded goods and brands, affecting and is incompatible with local cultures and patterns of the local economy. Environmental problems are also frequently associated with consumerism to the extent that consumer goods industries and the direct effects of consumption produce environmental externalities. Lastly, consumerism is also often criticized psychological grounds, such as increased anxiety, as people experience stress in maintaining social status. Social status these days decides the nature of a person and his mentality towards society.

Consumer Awareness and Protection

Looking at the rapid growth of consumerism, consumer protection, and awareness have become more important as the number of adulterated products and production of below-standard goods has also risen significantly. The government has implemented many acts to protect the consumers like the Code of Civil Procedure, 1908, the Indian Contract Act, 1872, the Sale of Goods Act, 1930, the Indian Penal Code, 1860, the Standards of Weights and Measures Act, 1976 and awareness through regular advertisements in commercials and various campaigns are done so that people know about their rights against any malpractices by companies. Consumer awareness simply means that the consumers must be aware of the various products or services available in the market. This is also necessary so that people can make the aptest choice and right decision.

Major changes in Consumers Protection Act, 2019

The government has also recently introduced the Consumers Act, 2019, which has replaced the earlier act of 1986 and is seen as a step for bettering consumers. One of the major changes introduced is that the consumer can now file a complaint where he/she resides. Otherwise, the manufacturer would use the tactic of a Strategic lawsuit against public participation, which means that the place to file the suit is not within reach of the consumers. Many other laws and regulations have also been implemented to improve the condition of the consumers. However, the legal system still contains many flaws, and because of these loopholes, consumers usually suffer in the end.

By: Tanya Sharma

Content: https://www.feedough.com/consumer-awareness/