Both Uses

materialistic
in
Winesburg, Ohio - by Sherwood Anderson
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Anderson soon adopted the posture of a free, liberated spirit, and like many writers of the time, he presented himself as a sardonic critic of American provincialism and materialism.†
Chpt Intr. *
The beginning of the most materialistic age in the history of the world, when wars would be fought without patriotism, when men would forget God and only pay attention to moral standards, when the will to power would replace the will to serve and beauty would be well-nigh forgotten in the terrible headlong rush of mankind toward the acquiring of possessions, was telling its story to Jesse the man of God as it was to the men about him.†
Chpt 7

materialistic = too concerned with wealth and possessions

Definitions:

(1) (materialistic)
overly concerned with wealth and possessions at the expense of other interests
(2) (meaning too rare to warrant focus)
Less commonly, in philosophy, materialistic can refer to the belief that everything, including our thoughts, are caused by physical effects over which we have no control.