Integrating “Consumer Well‐Being” Concepts: A Review and Research Agenda

ABSTRACT With the growing focus on quality of life, Consumer Well‐Being (CWB) has emerged as a crucial paradigm for analyzing how marketplace interactions shape individuals' overall happiness. This study delves deep into the intricacies of CWB and decodes its conceptual development, by reviewing 102 relevant scholarly articles using the systematic PRISMA literature search method. The study unravels the key CWB intricacies in three ways: (i) it maps the dominant theories, contexts, constructs, and methods used in the CWB scholarly work utilizing the TCCM framework, (ii) it develops a typology for CWB, and (iii) it proposes a future research agenda for each dimension of the TCCM framework. CWB can be categorized in several ways, based on the level of study (individual and collective well‐being), the type of assessment (objective and subjective well‐being), the experience (hedonic and eudaimonic well‐being), and the causal forces (retail/shopping, brand, digital/internet, physical, social, emotional, financial, and environmental well‐being). Moreover, there are multiple factors like product attributes, store, and marketer communication that affect consumers' perceived values, which drive CWB. This study enriches the theoretical understanding by first providing a structure to the extant scholarly work in the CWB domain through the TCCM approach, second, developing a marketing framework, third, organizing a typology for CWB, and fourth, suggesting a future research agenda based on these aspects for CWB. Existing literature either focuses on specific aspects, like financial well‐being, or takes a broad stakeholder approach. It is important to address this gap, as both managers and researchers face challenges in applying CWB, given its multiple perspectives. This study narrows this gap by providing a unified framework to enhance the understanding and strategic use of CWB. It has several practical implications, such as helping businesses understand how to improve consumers' quality of life and enhance their well‐being at both individual and societal levels. Ultimately, the study serves as a playbook for embedding well‐being into marketing strategies.