Consumer Capitalism
The economic upsurge after World War I caused the development of an economy built upon the individual’s ability to purchase products, or what is called a “consumer economy.” Many consumer goods had been available but not accessible or well-known. People were now purchasing electric household goods including refrigerators, washing machines, radios, vacuum cleaners, toasters, irons, and ovens. They also wanted the latest fashions with accessories.
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The advertising industry also grew during this time. Advertising agencies had made a mark publishing war propaganda and expanded their clientele to manufacturers of consumer goods during the 1920s. In 1927 companies spent over 1.5 billion dollars on advertising. They counted on newspaper chains and broadcast companies to get their messages out to mass audiences across the country. Commercials were also broadcast during movie intermissions. Average households were able to purchase goods that they couldn’t readily afford using credit options such as installment plans, where they paid for goods over a set period of time with interest.