Final answer:
Modern consumers enjoy a higher standard of living and greater product variety compared to past decades, influenced by advancements in technology, changes in economic conditions, and the evolution of consumer spending and behavior.
Step-by-step explanation:
Today's consumers compare to those of past decades chiefly through the vast differences in available goods, spending habits, and economic priorities. The early 19th-century elite would be astonished at the variety and accessibility of products for the average worker in 2008. With advancements such as year-round fresh food, affordable clothing, efficient transportation, and cutting-edge health care, contemporary consumers benefit from an improved standard of living. As we have seen, by the mid-20th century, consumerism had taken root, with new products and planned obsolescence encouraging spending over saving. Credit options further stimulated spending habits, particularly among the middle class. Into the 21st century, certain trends shifted due to economic conditions, influencing consumer expenditure. During the economic downturn between 2006 and 2009, for example, overall food spending decreased. Analyzing how consumers make choices and respond to economic changes reveals the complex nature of consumer behavior, reflecting changes in both price sensitivity and income effects. Technological adoption has also transformed consumer behavior. The reliance on smartphones, for instance, has grown substantially. People's relationships with their phones have evolved to become more intertwined with daily life, revealing a marked shift in consumer interaction with technology. Global influences, such as U.S. manufacturing, historically have had a significant impact on people worldwide, but today's global market presents a different landscape with diverse players and complex interdependencies, altering how U.S. manufacturing influences global consumers.