This article outlines a consumer‐focused approach for the study of consumer behavior. I argue that much of the existing literature, by developing knowledge that focuses on the determinants of consumer purchasing, is implicitly biased toward a marketing perspective of consumer behavior. In contrast, I propose the need for a consumer‐focused approach that would advance knowledge aimed at helping consumers make wiser purchases. This approach should address the most important and challenging consumer decisions, describe consumer behavior in a manner that leads to prescriptions, consider the actions of other parties in the marketplace, and identify biases unique to or exacerbated by the consumer context. This article then illustrates what such a consumer‐focused approach would imply for consumer research in three areas: negotiations, financial services, and auctions.