What is the term for the purchase and display of costly items to create a social impression?

The term that refers to the purchase and display of costly items to create a social impression is conspicuous consumption. This concept, introduced by sociologist Thorstein Veblen, highlights the behavior of individuals who buy luxury goods not necessarily for their intrinsic value or utility but primarily to signal wealth and status to others. By choosing to spend on expensive items, consumers engage in conspicuous consumption as a means of showcasing their affluence and distinguishing themselves within social hierarchies.

The notion emphasizes how luxury goods serve as a form of social communication, reinforcing one's identity and position in society. Rather than focusing on the functionality of the items, this behavior highlights how individuals use purchases to craft an enviable image, thus impacting their social interactions and acceptance within peer groups.