Insight on Consumerism

Whilst putting realization into mind that at some measures, the people nowadays could be considered as diverged due to the differences that could vaguely be found on the thoughts of theirs in general, yet it is not something uncommon to the society when it comes to the talks regarding globalization and its mass effects, considering the fact that there have been quite a number of effects, be it changes or advancement for the better notion, found on considerably huge fields in the life of the humans on earth.

The changes, on the same hand, would eventually be inevitable, simply due to the effects of the globalization itself might and could eventually turned into a trend that is believed and lived-in by the society, hence there is no place left for doubt when it comes to the notion of the consideration of some negativities being misinterpreted as the positive ones, vice versa. With respect given to the earlier statement, in addition, it is only unavoidable that the trend was created, it is just to the fact that merely for a better and more in-depth understanding regarding the misinterpretation issue, a highlight on numerous essentials on the thoughts that are ought to be straightened should be done in such detailed and understandable manners, with the genuine purpose that it would help to make the world a better place for everyone, especially in business world, which would also create the satisfaction guarantee as well as accurate information in the market which would eventually benefit the consumers.

Consequently, it is only avoidable that such trend being created and spread around the world would cause both upsides and downsides to both the consumers and businesses, thus, for the sake of keeping the business in healthiest manner as possible, there are the inventions of regulations and terms that, in brief, explain the “do-s” and “don’t-s” when running a business. Be that as it may, considering the fact that the topic is floating amidst consumerism matter, hence in this case, the terms and regulations would be on the favor of the clients, as in the occurance of such safe feeling and being protected when consuming goods in all kinds, hence the famously called “Consumer Protections”.

The term “Consumer-Protection” could be defined as the action that would be lawfully formulated mainly on protecting the clients against any unfair business practices, giving the consumers the additional rights in respect of goods that are exclusive of the agreed contract, as well as the cooling-off period. Notwithstanding, the Consumer Protection Act would vary for every country in the world, but for the sake of the acquisition of better image towards this peculiarity, Singapore is being taken for further analysis.

The practice in Singapore, nevertheless, as per the information gathered from SingaporeLegalAdvice(2014), while it is to the fact mainly that the country takes this matter in most serious manner, yet there would be several points constituted in more detailed peculiarities. Firstly, the law protects the rights of the consumers to cancel regulated contracts within the law-stipulated cancellation period. Secondly, the implementation of Lemon Law on business practices, which briefly mentioned the obligation to do a refund, repair or replacement in case of goods defects, is to be borne by the seller. Thirdly, should there is any unfair business practices conducted amongst the supplier and the seller (business owners), there is the possibility of suing in legal manner, for which, the compensation is capped at SGD30,000 by the law.

To sum things up, the globalization caused the creation of several trends throughout the world, which one of them, the consumerism, would inevitably bring about countless effects to the business, be it negativity or positivity. With that being said, by putting both the effects into account, it is only unavoidable and makes perfect sense that the existence of terms and regulations, which controls the practices and protects the consumers, should be present. This peculiarity is considered as a good thing and should further be developed, merely for the sake of the ability of reaping the benefits from fair practices in business, by not forgetting the fact that some adjustments should be present, putting the non-stop globalization into account as well.

Reference Lists

Investopedia. (2017). Consumerism. [online] Investopedia. Available at: http://www.investopedia.com/terms/c/consumerism.asp [Accessed 14 Jun. 2017].

SingaporeLegalAdvice. (2014). Unfair sale practices cooling periods rights cancel contracts consumer protection fair trading act. [online] SingaporeLegalAdvice. Available at: https://singaporelegaladvice.com/law-articles/unfair-sale-practices-cooling-periods-right-cancel-contracts-consumer-protection-fair-trading-act/ [Accessed 19 Jun. 2017].

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