1986 the act10/23/2023 ![]() ![]() Soon, there was a need to put an end to this and that gradual shift was noted with the growing prominence of the notion “caveat venditor” meaning “Let the buyers beware” instead of previously accepted “caveat emptor” meaning “Let the Sellers beware”. ![]() This resulted in stiff competition with the traders resorting to unfair trade practises & manipulating the customers and took advantage of the lack of knowledge of the purchasers. ![]() The 20 th century was marked by the advent of consumerism where there were frequent trade wars and conflicts between market share holders with a constant need to be better than the rest. It was with the emergence of the free market economy that the concept of “consumer is king”, widely followed and accepted.
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