It has been suggested that consumerism is negatively related to well-being in children and adolescents, as well as adults. Few studies have explored whether certain aspects of consumerism have stronger associations with well-being than others, or between-group differences in associations. This article uses data from a sample of early adolescents to examine: levels of consumerism; relationships between different aspects of consumerism and well-being; and differences according to gender, school year group and family affluence. Data were obtained in 2010 via secondary school pupil surveys (N 02934). Consumerism measures comprised number of 'standard' and 'premium' possessions and four dimensions of consumer involvement; well-being measures comprised self-esteem, psychological distress and anger. There was evidence of high penetration of consumerist values. There were positive associations between number of possessions and anger, and between 'dissatisfaction' and poorer well-being, regardless of how measured. 'Brand awareness' was associated with positive male well-being, but negative female well-being. Many relationships between consumerism and wellbeing were stronger than those between family affluence and well-being. These results suggest only certain aspects of consumerism are associated with poorer adolescent well-being. Although, for some sub-groups, other aspects might be associated with better well-being, there was no evidence that modern consumer goods promote happiness.