Consumerism

Consumerism is a socio-cultural and economic phenomenon in which the aspirations of many individuals include the acquisition of goods and services beyond those necessary for survival or traditional displays. In contemporary consumer society, the purchase and the consumption of products have evolved beyond the mere satisfaction of basic human needs, transforming into an activity that is not only economic but also cultural, social, and even identity-forming. It emerged in Western Europe and the United States during the Industrial Revolution and became widespread around the 20th century.

In economics, consumerism refers to policies that emphasize consumption.
It is the consideration that the free choice of consumers should strongly inform the choice by manufacturers of what is produced and how, and therefore influence the economic organization of a society.

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Source: Wikipedia · Image: Wikimedia Commons · CC BY 2.0