Purpose: Because steadily growing consumption is not beneficial for nature and climate and is not the same as increasing well-being, an anti-consumerism movement has formed worldwide. The renouncement of dispensable consumption will, however, only establish itself as a significant lifestyle if consumers do not perceive reduced consumption as a personal sacrifice. Since prior research has not yielded a consistent understanding of the relationship between anti-consumption and personal well-being, this paper aims to examine three factors about which theory implies that they may moderate this relationship: decision-control empowerment, market-control empowerment and the value of materialism. Design/methodology/approach: The analysis is based on data from a large-scale, representative online survey (N = 1,398). Structural equation modelling with latent interaction effects is used to test how three moderators (decision-control empowerment, market-control empowerment and materialism) affect the relationship amongst four types of anti-consumption (e.g. voluntary simplicity) and three different well-being states (e.g. subjective well-being). Findings: While both dimensions of empowerment almost always directly promote consumer well-being, significant moderation effects are present in only a few but meaningful cases. Although the materialism value tends to reduce consumers' well-being, it improves the well-being effect of two anti-consumption styles. Research limitations/implications: Using only one sample from a wealthy country is a limitation of the study. Researchers should replicate the findings in different nations and cultures. Practical implications: Consumer affairs practitioners and commercial marketing for sustainably produced, high-quality and long-lasting goods can benefit greatly from these findings. Social implications: This paper shows that sustainable marketing campaigns can more easily motivate consumers to voluntarily reduce their consumption for the benefit of society and the environment if a high level of market-control empowerment can be communicated to them. Originality/value: This study provides differentiated new insights into the roles of consumer empowerment, i.e. both decision-control empowerment and market-control empowerment, and the value of materialism to frame specific relationships between different anti-consumption types and various well-being states. [ABSTRACT FROM AUTHOR]