What is the Difference Between Materialism and Consumerism

The main difference between materialism and consumerism is that materialism is one’s preoccupation with material possessions and physical comfort, while consumerism is a theory that states increasing consumption of goods is economically desirable.

Materialism and consumerism are two closely related terms. Materialism is the importance one places on material possessions. We usually note this characteristic in individuals, i.e., those who are obsessed with material possessions. When more and more people become materialistic, there is an increase in the acquisition of goods and services, leading to consumerism.

Key Areas Covered

1. What is Materialism 
    – Definition, Features
2. What is Consumerism
     – Definition, Features
3. What is the Difference Between Materialism and Consumerism
    – Comparison of Key Differences

Key Terms

Consumerism, Goods, Materialism 

What is Materialism

Materialism refers to people’s tendency to consider material possessions and physical comfort as more important than spiritual values. We can describe this simply as one’s preoccupation with material possessions. These material possessions can be anything – cars, gadgets, clothes, jewellery, handbags, shoes, etc. We can even count one’s home as a material possession. For someone who considers his home not only as a place of living but also a place that reflects his social status and wealth, home is a material possession.

The importance placed on material possession varies from person to person. We describe people with a high level of materialism as materialistic. They consider material possessions very important to their lives, and they spend the majority of life acquiring these possessions and showcasing them. There are also people with a low level of materialism. Non-materialistic people are not very interested in acquiring possessions. But they may sometimes acquire material possessions for some other goal.

Materialism may be an individual characteristic, i.e., it describes an individual’s preoccupation with possessions. However, materialism can create several issues in society, including debt and shopping addiction. This may also result in mental conditions like hoarding and self-esteem issues, which may require professional help. 

What is Consumerism

Consumerism is basically a theory and a social and economic order that encourages the acquisition of goods and services in increasing amounts. According to this theory, increasing the consumption of goods is economically desirable. It describes the tendency of people living in a capitalist economy to engage in a lifestyle of excessive materialism, which revolves around wasteful or conspicuous overconsumption. Therefore, there is a very close connection between materialism and consumerism.

Consumerism can be seen in many economically developed countries. Mass production of luxury goods, rising levels of personal debts, and saturation of media with promotions for branded products are some indicators of an increase in consumer spending. A rise in consumer spending can lead to an increase in production as well as economic growth. However, there are many adverse social, economic, and environmental consequences of consequences.

Difference Between Materialism and Consumerism

Definition

Materialism is one’s preoccupation with material possessions and physical comfort, while consumerism is a theory that states increasing consumption of goods is economically desirable.

Term

Basically, materialism refers to a characteristic in an individual, while consumerism describes society as a whole.

Conclusion

Materialism is one’s preoccupation with material possessions while consumerism is a social and economic order that encourages the acquisition of goods and services in increasing amounts. Therefore, this is the main difference between materialism and consumerism. It’s also important to note that materialism refers to a characteristic in an individual, while consumerism describes society as a whole. When more and more people become materialistic, there is an increase in the acquisition of goods and services, leading to consumerism.

Reference:

1. Hartney, Elizabeth. “How Materialism Can Lead to Many Financial Consequences.” Verywell Mind, 25 Apr. 2019, Available here.
2. “Consumerism.” Investopedia, 18 Jan. 2021, Available here.

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1. “791582” (CC0) via Pixabay
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