Consumerism Is Coming to An End

Canadian pollster David Coletto recently posed a provocative question: Is consumerism beginning to stall?

On the surface, the economy appears stable. Employment remains strong and markets show resilience. Yet many households tell a different story—one of rising housing costs, higher interest rates, and growing caution about spending.

For decades, economic growth in advanced democracies has depended heavily on consumption. When people spent confidently, policymakers interpreted it as proof the system was working.

Today, however, consumers appear to be recalibrating. Discretionary purchases are softening and, where possible, families are rebuilding savings.

Fact: Real structural pressures are shaping the economy—aging populations, slower productivity growth, geopolitical uncertainty, and rapid technological change. These forces are challenging institutions that often appear more reactive than strategic.

Fiction: The idea that consumer demand itself is disappearing. Consumption will remain central to modern economies, but its character may change. The era of easy credit and relentless expansion may be giving way to a more cautious, value-oriented consumer mindset.

Complicating matters is the rise of the attention economy, where economic anxiety spreads quickly through media and digital networks. Volatility is not only experienced—it is continuously amplified.

Yet fragility does not guarantee failure. Economic systems adapt when expectations shift. If households increasingly value resilience over excess and durability over speed, markets will eventually respond.

The question is not whether consumerism is ending. It is whether our economic architecture can evolve—from short-term consumption toward long-term value and resilience. What too is the impact we should anticipate of the enormous wealth transfer expected as baby-boomers pass on?