AbstractWherever consumers envision faraway locations, remember the past, predict the future, consider the perspective of others, or entertain remote possibilities, their minds extrapolate beyond what lies in front of them to something psychologically distant. Conjuring and considering that which is psychologically distant thus lies at the heart of how most people spend a substantial portion of their lives. As integrated here, seeing something as psychologically distant causes people to think about and act on it in systematically different ways than the same thing seen as psychologically close. Recent advances in these consequences suggest that the effects of psychological distance on consumer decision‐making continue to grow increasingly nuanced. Consumer outcomes thus at times benefit from seeing things as near and, at other times, benefit from seeing things as far. Accordingly, this review thereafter summarizes the antecedents that lead people to see things as psychologically distant or psychologically close. It closes in considering how future considerations might expand the conceptualization and application of psychological distance.