You should disambiguate Capitalism, on the one hand, and "An Ideology of Mass Consumption" on the other.
Consuming goods does not make one rich. Indeed, one can end up broke -- and many people do go broke buying stuff. What consumption does for the individual is allow him or her to display
"signs of affluence" which may or may not be empty symbols. Capitalism benefits from mass consumption (its a necessary part of many economies, certainly), but the wealth of capitalists is gained by exploiting the labor of workers. Capitalism is older than any "ideology of mass consumption".
There have always been a small club of wealthy and powerful people who were able to spend money on ostentatious consumption (the Bourbons, Hapsburgs, and Romanovs, for example). Later on industrialists (capitalists) accumulated great wealth (Carnegie, Vanderbilt, Krupp, et al). These very rich entrepreneurs could afford to build huge mansions and large yachts, and fill them with luxury goods. None of this is what I take to mean an "ideology of
mass consumption".
Mass consumption began after the industrial revolution, of course, and slowly developed among the classes well removed from the uber-rich. Henry Ford began a project of planned consumption when he raised the pay of at least many of his workers to a level high enough that they could (eventually) afford to buy one of the cars they were making. Ford engineers researched the survivability of Ford parts, and when they found a part that was barely worn after other parts were shot, it was cheapened. Ford's idea was that consumers should not buy 1 car per lifetime, but many cars per lifetime. That was great for his capitalist enterprise, and cheap cars appealed to the consumer. Later on car sales would be driven by mostly superfluous annual style changes--great style, in many cases, but transient style none the less.
The merchandizers developed the means for consumers to see and buy far more goods than Ford cars. Sears, Wards, Macy's, Daytons, Hudsons, I. Magnin, etc. built a huge retail infrastructure where the ideology of mass consumption could be instantiated. Everything from ladies underwear to air compressors could be had conveniently.
Urban areas facilitated another means to instantiate consumer ideology: the housing project. After WWII a huge number of houses were built, financed, and sold under the auspices of the Housing and Urban Development Administration.
The ideology of mass consumption, based on cars, houses, and furnishings--facilitated further by extensive infrastructure, road and mass transit building--grew like kudzu (a noxious vine) across the land scape between say, 1920 and 1980, tempered by the Great Depression and WWII.
HAVING became BEING. Having an attractively furnished house & late model car represented both good things (transportation and shelter) but also of having "arrived". Status required a minimum of money (earned in the capitalist work place), and on top of that a successful deployment of symbols.
Mere clothes, cars, and houses were not enough. The clothes, cars and houses had to display the right values. A house worth x dollars in an integrated neighborhood didn't count for very much. Much better that the house was located in a neighborhood which displayed the values to which leaders aspired. Tasteul, affluent, white, safe. Nothing wrong with that, in my opinion. (What was wrong was that there was no separate but equal; there was no tasteful, affluent, black, safe. For the blacks it was the shithole, basically. And not much else.
Buying one's clothes from Sears or Wards was perfectly acceptable for the immobile working class. Quality was good, prices were affordable (cheap), and you could get it delivered to your house (just like Amazon). But if one wanted to climb the hierarchy, one had better buy better than Wards. Eventually you would need very good tailored suits, nicely fitted shirts, Florsheim Shoes (this is for the 1950s, you understand), black socks please; regulation tie. Not too wide, not too narrow, nothing even remotely loud or garish, for God's sake. You'd better drink the right liquor in decent glassware, smoke the right cigarettes or cigars, etc.
That's the ideology of consumption: Being by buying.
Of course the ideology moved down the demographic. The right Jordan running shoe was worth killing the wearer to get, which happened every now and then down in the ghetto. TV brand, hair do, which church you went to, etc. were as much a part of the ideology of consumption, being by buying, as the fine, very expensive wardrobe was that was made in Italy.