This paper attempts to show that sustainable consumption depends on individual’s pursuit of subjective well-being or happiness. Under the influence of global consumer culture, people believe that the more they consume the happier they will be. Therefore, they keep spending more for greater expected pleasure. Paradoxically, with more and more consumption, people are achieving same or less happiness. This is neither desirable nor sustainable. Therefore, there is an urgent need to examine and modify the current hedonic happiness model, which is based on always more consumption, in order to achieve more happiness while reducing consumption to sustainable levels. This paper is an attempt to examine the relationship between current conspicuous consumption and the hedonic happiness model promoted by the global consumer culture. The paper offers an alternative happiness path compatible with human nature resulting in less and sustainable consumption that will increase both psychological and ecological well-being.