Conspicuous consumption
Etymology
Coined by economist and sociologist Thorstein Veblen in his 1899 book "The Theory of the Leisure Class," joining "conspicuous" (Latin "conspicuus," visible) with "consumption." Veblen used it to skewer the newly rich displaying status through waste.
noun phrase · /kun-SPIK-yoo-us kun-SUMP-shun/
Spending on goods and services mainly to display wealth and status rather than for their use.
What it names
Names buying as signaling — the point isn’t the watch’s timekeeping, it’s that others see you can afford it.
Example
The garage full of cars no one drives is conspicuous consumption — wealth on show, not on the road.
Related idea
A Veblen good is the market echo of this: an item whose demand rises as its price rises, precisely because being expensive is the point.