EMPOWERING VULNERABLE CONSUMER GROUPS: A STUDY OF THE AWARENESS AND EXERCISE OF CONSUMER RIGHTS OF MARGINALIZED SECTORS
Consumer protection is a crucial aspect of ensuring fair and equitable treatment for all individuals in the marketplace. Vulnerable consumer groups, including marginalized sectors such as persons with disabilities, women, fisher folks, students, and senior citizens, often face unique challenges in accessing and asserting their consumer rights. Consumer vulnerability is a fundamental concern of consumerism. The main concern of policymakers and regulatory bodies in the realm of consumer protection has always been safeguarding consumers during their most susceptible moments. This paper contributes to the consumer vulnerability literature by empirically drawing on new insights from consumers who experience vulnerability during their interaction. The study used the survey method to look into the distribution of the respondents and to measure their awareness of their rights and responsibilities in relation to the provisions of the Consumer Act of the Philippines alongside other related to Trade and Industry laws. The analysis of internal and external factors influencing the level of vulnerability and coping strategies of individuals reveals the interconnectedness of emotional well-being, social support that aids in consumption, acceptance, autonomy, and perceptions of marketplace challenges with their adaptive mechanisms. The results underscore the importance of targeted interventions and educational programs tailored to address the specific needs and circumstances of these vulnerable sectors. It is evident that enhancing consumer awareness and empowerment among vulnerable sectors can lead to more equitable market interactions and improved protection against potential harm. This study serves as a foundation for further research and interventions aimed at fostering a fair and inclusive consumer market for all consumers, regardless of their vulnerabilities.
Consumer Awareness, Vulnerability, Marginalized, Basic Rights, Consumer Protection