Retail Therapy is a Blessing and a Curse
Submitted by Will Chen
Retail therapy refers to the practice of shopping to improve one’s mood or a way to relieve stress. This term is quite common among college students as they use it as a source to combat the stress in their daily lives. Without a doubt, I have indulged in retail therapy before as well. This can be in the form of food, clothes, video games, pretty much anything you can think of. However, there are consequences to retail therapy, specifically financial stress.
According to the Journal of Consumer Research, consumers who engage in retail therapy can experience an increase in happiness. After shopping, people will become elated at the fact they have picked up some brand new items, excited to put them to use. Going shopping allows people to express themselves and gives them a sense of control when making purchases on specific items. However, once the shopping high eventually fades away, people may not feel that happy anymore.
If individuals continue to spend money as a way to relieve stress, they can find themselves overspending their way into guilt and regret. Nearly 36% of Americans admit to using shopping as a coping mechanism for stress. People must be careful before they find themselves stuck in a cycle of continual spending whenever they may feel down. In the end, money does not buy happiness and individuals should be aware of being caught on the hedonic treadmill. So, the next time you think about going out to shop, be mindful of how much you spend.
