It's something which we are surrounded by but don't realize. It's disguised as mere inconvenience typically. For example, You purchase an inexpensive backpack from a major retailer. Months later you find that it has quickly worn out already. Back to the store for a new one. To most it's just an annoyance of life. What you don't realize is that these types of incidence are planned, or at least expected and/or anticipated by big companies.
The maximization of earnings, has caused quality to take a back seat. What's worse is as consumers, we've been conditioned to desire the cheapest price. With that desire comes poorly made products and you returning to that store to buy another of the now worn out product. It's such an inefficient way to live. You waste money on flimsy stuff, and spend more time buying new ones to replace it.
Now, a leather bag that costs $300 seems outrageous compared to a polyester bag for $30. Though, paying $300 for something that could theoretically last decades isn't outrageous, it's the better of the two options. You end up saving money, believe it or not. That's not to say a $3,000 Designer bag is worth it, though. Be reasonable. When you're on the market for any type of product, try to consider the level of quality that is sufficient for you and what's a reasonable price.
If consumers demanded quality, companies would produce higher quality products. Make a statement with your wallet. They want your money and if you say "I don't want your cheap garbage..." They will stop selling you cheap garbage.