A term used in economics and competition and consumer protection law to describe the benefits that an individual derives from the consumption of goods or services.

The term is ambiguous, as consumer welfare can be viewed, defined and measured in different ways depending on the context (see, for example, the OECD definition).

In an Australian context, the object of Competition and Consumer Act 2010 (Cth) (CCA) is to enhance the welfare of Australians through the promotion of competition and fair trading and provision for consumer protection (section 2, CCA). For further information, see Practice note, Construction of the Competition and Consumer Act 2010.