DEFINITION of 'Transumerism'

A consumer trend toward renting or leasing items rather than purchasing goods. Transumerism is based on consumers' desire for new experiences rather than ownership, and associates the outright purchase of a good with a lack of freedom. Consumers who follow this ideology are more likely to rent or lease a product, allowing them to follow new product trends more closely.

BREAKING DOWN 'Transumerism'

Transumerism is closely associated with pleasure-seeking by consumers. Transumers may lease a car or rent a movie rather than buy it. This way, transumers can gain the positive image associated with a particular product without the expense of purchasing it outright. For businesses, transumerism means that consumers are less willing to pay for a product in full, especially for luxury goods or electronics that typically carry bigger price tags, but would still like to experience the product for a shorter time period.

  1. Fractional Ownership

    Percentage ownership in an asset. Fractional ownership shares ...
  2. Lessor

    The owner of an asset that is leased under an agreement to the ...
  3. Lessee

    The person who rents land or property from a lessor. The lessee ...
  4. Lease To Own

    An arrangement where an individual enters into a lease agreement ...
  5. Rent To Own

    An arrangement between a consumer and a seller that allows the ...
  6. Lease

    A legal document outlining the terms under which one party agrees ...
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