Your Money is Powerful! How are you Casting Your Vote - Conscious Consumption

Your Money is Powerful! How are you Casting Your Vote - Conscious Consumption

Let's chat about something that might seem a bit dry at first glance but is actually pretty fascinating - the way our everyday purchases shape the world around us. 

Here's a mind-boggling fact to kick things off: us Australians splash out over $300 billion on retail goods each year. But here’s the point: where we choose to spend that cash has a massive impact on our communities and economy.2023 Inside Australian Online Shopping

If you are reading this, you are already a conscious consumer, but it is good to reflect on how every bit of our money spent is incredibly powerful. When you buy from a local business, most of that money bounces around in your community, supporting local jobs and keeping your neighbourhood thriving. For every dollar spent with small businesses, 42 cents is reinvested in local communities.

Big multinationals? Very little of your spend is going into the local economy. Speaking of big companies, let's talk about the elephant in the room. Amazon's been shaking things up since it landed on our shores in 2017, and now it's gobbling up about 25% of our online shopping. Convenient? Sure. But it's also led to over 40,000 retail jobs disappearing in 2022 alone. That's not just a number - that's your local shopkeeper, your neighbour, maybe even your family member.

We’re not here to make you feel guilty about every online purchase you've ever made. We've all done it, and sometimes it's the best option. But it's worth thinking about the long-term effects. Do we really want a future where every high street looks the same and all our stuff comes from the same few massive warehouses?

Take the clothing industry, for example. In Australia, a lot of sectors (like underwear, oddly enough) are mostly controlled by overseas companies. This doesn't just limit our choices - it makes our economy more vulnerable and squashes local innovation.

But here's the good news - we have the power to change this. Every time we buy something, we're essentially casting a vote for the kind of world we want to live in. It's like a superpower we all have, hiding right there in our wallets.

So, how can we flex this consumer superpower of ours?:

 

  1. Do a quick search before you buy. Where's this company based? What are their practices like?
  2. We are all feeling the financial pressure right now, but sometimes just $2 more means you are supporting an ethical and sustainable business over an extractive one. So if you can try not to automatically choose the cheapest price…that is how Amazon has the power they have. 
  3. Is there a small business offering what you want, rather than a large chain? Try and support them.  
  4. Try to shop local when you can. It is easier to get support, you can often have repairs done later and it is helping your community thrive. Even if you live right in the inner city. Your neighbourhood will thank you.
  5. Think quality over quantity. That $5 t-shirt might seem like a bargain, but how long will it last?
  6. Don't be shy - ask questions about where stuff comes from and if it is ethically sourced.
  7. Found a great local or ethical brand? Spread the word!

 

Remember, it's not about being perfect. Even tiny changes in how we shop can create big ripples in the economy.

This question - "What kind of future am I backing here?" - is at the heart of what we do at Underwear for Humanity. We believe in transparency and want you to know exactly where your money goes when you buy our undies. So, if you ask us this question, here's what we'd say:

 

For every $100 spent in our shop:

30% is on product costs (double the average clothing brand) 

5% is on pick and pack costs - it is our work-training program 

23% sadly goes to marketing, unfortunately it costs a lot to get the word out, please share us!

25% goes on staff costs (mainly freelancers, our founder volunteers her time) 

5% goes on Indigenous rent payment and free underwear for people in need

7% goes on recycling, carbon investments and research 

5% is profit, which is reinvested in stock 


You can see how we interact with our community and support them. It's a perfect example of how conscious consumption can work. You get a product you need, and at the same time, you're contributing to positive change in multiple areas. This is the power of asking where your money really goes and choosing to support businesses that align with your values.


Transparency is what is desperately needed from business isn’t it? So we can make informed decisions, the current hazy details we receive make being discerning hard. We can only research so much, life is busy! But as a rule of thumb we always try to use small businesses where possible. 


And sometimes that takes patience. 


I decided that I will no longer buy books online, so I go to my local bookstore (or call them) with the book details and order it. They love it. And we have a connection, a precious connection that is lost online.

Often shopping like this takes longer…but we really do have to cultivate some patience. Convenience is the devil when you are talking about sustainability and ethical shopping. 


Call to Action: Support Fair Global Taxation - in other words force Multinationals to bloody pay tax! 

 

Speaking of where money goes, here's something you can do right now to make a difference on a larger scale. The Australian Government recently announced the implementation of a 15 percent global minimum tax and domestic minimum tax in the 2023-24 Budget. This move aligns Australia with other countries implementing a global minimum tax from 2024.

 

This policy aims to ensure that large multinational corporations pay their fair share of taxes, regardless of where they operate. It's a step towards a more equitable global economy and could have significant positive impacts on countries like Australia.

 

Do you support this initiative? Let your state representative know! Encourage them to support the Organisation for Economic Co-operation and Development (OECD) and the G20 group's efforts in this area.

 

Here's a template email you can use:

 

Subject: Support for Global Minimum Tax Implementation

 

Dear [Representative's Name],

 

I am writing to express my support for Australia's implementation of the 15 percent global minimum tax and domestic minimum tax, as announced in the 2023-24 Budget.

 

This policy aligns with the efforts of the OECD and G20 to create a fairer global tax system. I believe it's crucial for large multinational corporations to pay their fair share of taxes, which will benefit our local communities and economy.

 

I urge you to support this initiative and any related measures that ensure global corporations contribute equitably to the countries where they operate. This is a step towards a more just economic system that benefits all Australians.

 

Thank you for your attention to this important matter.

 

Sincerely,

[Your Name]

[Your Address]

 

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