Transumerism

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. Fractional Ownership

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

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

    The person who rents land or property from a lessor. The lessee ...
  4. Lessor

    The owner of an asset that is leased under an agreement to the ...
  5. Rent To Own

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

    An arrangement where an individual enters into a lease agreement ...
Related Articles
  1. 5 Ways To Control Emotional Spending
    Budgeting

    5 Ways To Control Emotional Spending

  2. To Rent Or Buy? There's More To It Than ...
    Personal Finance

    To Rent Or Buy? There's More To It Than ...

  3. To Rent Or Buy? The Financial Issues
    Home & Auto

    To Rent Or Buy? The Financial Issues

  4. What does the current cost of living ...
    Savings

    What does the current cost of living ...

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center