Based on phenomenological interviews with consumers who voluntarily engaged in the process of dispossession, the study develops an emerging processual theory of identity, which emphasizes four main stages: sensitization, separation, socialization, and striving. Each phase corresponds to evolving consumers' perceptions of the world and positioning of the self, and characterizes distinct meanings and experiences of consumption. Furthermore, our analysis shows that, although there is no possible self-making outside of consumer culture, its normative background is not fixed, but rather fluid, and can be deconstructed when it no longer operates within the realm of consumers' world-view.