Conspicuous consumption refers to the practice of purchasing and using goods or services to publicly display wealth and social status. This behavior often involves buying luxury items, such as designer clothing or expensive cars, not just for their utility but to signal affluence to others. The term was popularized by economist Thorstein Veblen in his book, "The Theory of the Leisure Class." He argued that people engage in conspicuous consumption to gain respect and admiration from their peers, reinforcing social hierarchies and distinctions based on wealth.