What is Conspicuous Consumption?
Conspicuous consumption is a term coined by economist and sociologist Thorstein Veblen in the late 19th century. It refers to the act of acquiring and displaying goods and services with the primary purpose of signaling one’s wealth and social status. In a consumer culture, conspicuous consumption involves making purchases not for practical reasons but to visibly demonstrate one’s economic power and standing within society. This behavior is often driven by a desire for social recognition and validation. Examples include owning luxury cars, designer clothing, and high-end electronic devices, which serve as visible markers of affluence and success.