Consumers & Companies

Humans tend to overemphasize the positive elements of a product and ignore the downsides. For example, consumers wait overnight for new releases of certain products, even though other brands have better features and are cheaper.

One reason is that people v...

Many consumers who buy luxury goods are not in a financial position to afford luxury goods. They do not always act rationally and may spend thousands of dollars on a luxury brand that performs the same function as a similar durable item at a much lower cost.

In 2021 and beyond, ethical design will become a priority for businesses—especially when it comes to designing and manufacturing consumer products. Designers will lead the way to building a new consumer paradigm, one where a product’s story is as important as its price tag.