"It’s about price because consumers can’t measure by anything else."
They can, but it's obviously the biggest signal.
But let's not confuse the plight of the middle/upper middle class who can afford to start to invest in aspiration, and make other qualitative judgments about things like supply chain.
China+Wallmart have made entire categories of goods and services available to regular working people, at prices they can afford. The consumer surpluses have been vast.
However much we may not like all of the ugly bits that come along with that new reality (and there are many) - we often forget the immense surpluses they bring to quite a lot of people.
Most people don't have a lot of money and are very price sensitive, and being able to afford 'stuff' can in many cases improve their lives quite dramatically.
Anecdotally, I've been helping to create a physical product for mass consumption, and this has really hit home with me in our earlier trials and feedback from customers. Without getting into specifics, the 'simple' version of our product at $40 is accessible to most. The fancy version at $80 will be beyond the reach of most. Margins will be what they can be, but for the first time in my professional career, it dawned on my quite clearly all of these folks clamouring for our product for whom we would have to say 'no' to, because of price point: they are not going to be able to get the little bump in lifestyle. It was the weirdest bit of 'capitalist equality/opportunity' logic, but I really felt bad that we might have to tell all those folks that they 'can't have it'. All things equal, I want to make it as affordable as I can because that brings a lot of benefit to people.
So yes, after 20 years of this China-Wallmart global supply chain powerhouse ... maybe we should start to take stock of all of these externalities, but let's also not forget how much of the surpluses go to those who need it.
Now consider that there are still 4 billion people who are going to 'come online' into basic economic prosperity who are going to want and need 'stuff' to!
I hope we start to figure out plastics, waste, pollution, but we also want to make stuff accessible.