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Retail Therapy: Why You May Get Broke Easily.

When some people are sad, they go shopping to improve their moods. Sounds like a Dangote move, right? Not really because a number of people actually do this. At this moment, you just feel this rush to buy something or go for shopping to calm your nerves. It’s called retail therapy. You haven’t heard about it before? Let’s ride…

What is Retail Therapy?

Retail therapy is shopping with the primary purpose of improving the buyer’s mood or disposition. Often seen in people during periods of depression or stress, it is normally a short-lived habit. Items purchased during periods of retail therapy are sometimes referred to as “comfort buys”. (Wikipedia)

Examples of Comfort Buys

Comfort buys include but not limited to

  • Entertainment: for example subscribing to Netflix or YouTube premium
  • Alcohol
  • Clothing
  • Beauty Products
  • Toys
  • Electronic/Tech Gadgets

Simply, the process of going shopping to improve your mood is known as retail therapy. And it works according to a study in 2011.

Does Retail Therapy Make People Happy?

Research has shown that making shopping decisions can help reinforce a sense of personal control over our environment. It can also ease the feelings of sadness.

A 2014 study from the Journal of Consumer Psychology found that retail therapy not only makes people happier immediately, but it can also fight lingering sadness.

Why do People opt-in for Retail Therapy?

There are various reasons why people do this. Some say it makes them feel in control, makes them happy
and others say it serves as a tool of self-nurture.

READ ALSO: Your Money or Your Life: 4 Reasons Why You Need to Build Wealth

Effects and Management of Retail Therapy

Despite the perceived good, when done excessively it comes with dire consequences–like getting broke because you tend to spend what is not in your budget. Here are some tips to manage these excesses:

  • Always set aside cash for random purchases (emergency funds) and keep what you don’t need locked away.
  • Go for items with a return policy.
  • Identify your triggers and set up less-expensive responses.

For more tips on how to spend money wisely, tap “Read More”.


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Oluwamighty

Oluwamighty is a Nursing Student of OAU, a Blogger and Content Writer. I enjoy feeding people with information as a way of keeping their vibes alive. Information save lives too, you know? || also works at https://aabadmus.com.ng

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