Marketing managers use anticipation as a marketing tool, particularly for new or improved products, services or experiences. Academic interest in consumer anticipation has focused on its outcomes, especially effects on the forthcoming substantive consumption. However, inadequate attention has been given to consumer anticipation as a complex process per se. A systematic review of the literature arrives at a conceptual definition which sees consumer anticipation as a mental process by which consumers consider the physical, experiential, social, emotional or behavioural consumption outcomes that are expected to accrue to the self from a yet to be realised consumption decision or experience. Antecedents of consumer anticipation, its underlying mental processes and consequences are identified and discussed. Frameworks for operationalising consumer anticipation in practical contexts are discussed.