What Happens To Modern Business When Consumers Stop Consuming?

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Christopher Marquis,Patagonia

I am the Sinyi Professor of Chinese Management at Cambridge's Judge Business School. I research and write about how businesses are creating a more sustainable and equitable economic system.

For as long as we can remember, business has been built around a simple model. Create demand, service this demand, and reap the profits. As a result, we’ve created a society that sees mass-consumption as second nature, chasing the next dopamine hit in their online shopping cart.

One company who has been at the forefront of this transformation is Patagonia, a company that has challenged the retail industry's norms with its anti-consumption stance. Their"Don't Buy This Jacket" campaign, launched during Black Friday in 2011 highlighted the environmental costs of overconsumption. They also focus on product longevity offering free repairs on their products, and encourage customers to value and maintain their gear longer, reducing the need for new purchases.

 

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