A review of fifty-six years of consumer economics research

Consumer economics (CE), consumer psychology, and consumer culture may seem synonymous but distinctly capture different facets of consumer behavior. To the best of the researcher’s knowledge, no structured systematic literature review has been conducted in the specific domain of CE until now. Therefore, this study aims to explore the theories, models, contexts, themes, and methodologies prevalent in CE research; identify current gaps in CE literature; and outline potential future research pathways. The review covers 71 articles published between 1967 and 2023, retrieved from Scopus, and organized using the SPAR-4‐SLR protocol and the theory–context–characteristics–methodology framework. This analysis identifies key theories and models, varied contexts, significant themes, pivotal journals, and central methodological approaches in CE literature. The study advances theoretical understanding by proposing a new organizing framework to guide the synthesis of identified themes. The findings also carry significant implications for policy and practice, particularly in broadening perspectives on financial management decisions made by both businesses and consumers.