Smart, perhaps, consuming volume after volume (5)
I believe the answer is:
savvy
'smart' is the definition.
(I've seen this before)
'perhaps consuming volume after volume' is the wordplay.
'perhaps' becomes 'say' (both can mean 'for example').
'consuming' is an insertion indicator.
'volume' becomes 'v' (abbreviation for volume in book titles).
'after' means one lot of letters go next to another.
'volume' becomes 'v' (abbreviation for volume in book titles).
'v'+'v'='vv'
'say' going around 'vv' is 'SAVVY'.
(Other definitions for savvy that I've seen before include "Possessing the required knowledge" , "Shrewd, knowledgeable" , "Astute" , "Knowing" , "smart" .)