I think since formation of society we have always had more consumers than producers. It isn't new to have a select few who go through great lengths producing for the larger community to consume. Yet the same history largely restricted the scope of mass production to things that were relevant to our survival.
That has very much changed with the modern day version of what consumerism entails. Survival has been replaced with stimulation and sophisticated tools are used everyday to figure out how best to capture attention in the increasingly distracted consumer markets.
Am sure everyone of us can relate to multiple personal experiences where we end up purchasing things that we either do not need, or add limited value to us after consumption. Yet we thread down this path in a bizarre attempt to continually experience those bouts of stimulation.
Some people have had their lives turned into an absolute wreck simply because they cannot control their consumptive appetites. It is a strange place to be as uncontrolled consumption neither excites nor does it satisfy.
It isn't all doom and gloom though. These days there seem to be incentives and rewards geared towards consumption than we have ever seen. People are actually stumbling into wealth by their heavy consumptive habits that have gained the attention of others.
It is all very interesting to see as it unfolds. I myself have embraced the consumer lifestyle though not fully. Anyone who generally can beat this lifestyle is truly liberated from the judgement of society and on their way to true relevance.