The 1920’s

The end of World War I brought about new political and sociological changes in America.Even more affected was America’s way of conducting business.With the emergence of new technology came the need to market it, which brought these changes forward.Items such as the toaster, refrigerator and the ever-popular radio helped to shape the business industry.
The demands for new technology also introduced buyer credit, which allowed the consumer to buy now and pay later.This was also known as the installment plan, a way of paying for a product over an extended period of time.Many economists were skeptical of this plan however, as it made it easy to purchase a large amount of goods and not have to pay thus lowering the purchaser’s credit because of non-existent funds.
Advertising also flourished due to the new products available to Americans.Advertisers hired psychologists to study what techniques were more effective on the consumer.They paid close attention to details such as colors and package size, how Americans perceived what youth and beauty were, and what could bring them greater wealth and better health.Slogans such as “Say it with flowers” and “Reach for a Lucky instead of a sweet” helped to boost product sales and familiarize people with brand names.The new attitude among consumers in America was “luxury is necessity” and it showed through their spending habits.
This great flourish in business could only come to an end as Americans grew deeper in debt with the introduction of the installment plan.The prosperity of the 1920’s was short lived however, as the stock market crash of 1929 and the ever-growing debt of Americans gave birth to the Great Depression.

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