In the early 21st century we saw the raise of the internet . Which also led to online stores such as Amazon and ebay. These online stores made it alot easier for retail shoppers to shop. The digital age also allowed these retialers to obtain information on customers spending habits. While people think there getting such great deals . Its these same retail gaints that are using your personal info to get your to buy more and or buy stuff you dont really need. Or try to get you to think you need the newest and or latest version of the latest tech.
The second decade of the 21 century saw the raise of social media . The same retail stores now are using your social media to make money off you. While claiming to give you great deals on stuff you would not normally be buying in the first place . Social media has also created the competion to have the latest and greatest stuff. Also this decade has the era of Zero percnt interest rates . This created a generation of spend now and pay for it later.
This pay it later way of thinking has giving people the idea that they have more money they the really do. Studies have show the average American spends $700 per year during the holidays . While at the same time two thirds of Americans do not have $1000 dollars in savings.
What happens when this era of cheap credit ends? We are a consumer economy . When the spending stops so does our economy.
