The Urge to Splurge in Time of COVID-19: Emotional Spending, Revenge Buying and Compulsive Shopping.
(2023) Psychiatria Danubina — Vol. 35, n° Suppl 2, p. 249-255 (2023)
Files
2023_Naviaux_Psychiatr_Danub.pdf
Open Access - Adobe PDF
- 270.32 KB
Details
- Authors
- Abstract
- Shopping is a reality for all of us; it can also be a pleasure or a source of problem, depending on the psychology behind it and our decision making. Furthermore, our spending patterns were seriously shaken and impacted by the COVID pandemic; restrictions, safety measures and lockdown generated changes in the way we buy. So, what has changed and why? Between January 2023 and May 2023, a literature search based on electronic bibliographic databases as well as other sources of information (grey literature) was conducted in order to investigate the most recent data on shopping habits and especially how they were impacted by the COVID-19 pandemic. Various shopping behaviors observed post COVID, such as the urge to splurge, emotional spending, revenge buying and problematic shopping behavior, can be read and explained via psychology. Customers's socio-demographic characteristics play considerable roles in new buying patterns, but some general changes show that online shopping and contactless payment have certainly increased, consumers are more aware of their spending habits, looking for value first and not remaining loyal to brand, homebody economy has risen and money is rather spent on domestic tourism instead of foreign holidays. A lot of buying habits have changed during COVID-19 and many of these modifications will remain in a post pandemic world. If many consumers gained some insight in their spending behaviors and are looking for durability and sustainability as preferred choices, luxury products will always attract clients. Shopping being emotionally driven, money should rather been spent on experiences (rather than things) and on others (rather than ourselves) in order to make happy.
- Affiliations
Citations
Naviaux, A.-F., & Janne, P. (2023). The Urge to Splurge in Time of COVID-19: Emotional Spending, Revenge Buying and Compulsive Shopping. Psychiatria Danubina, 35(Suppl 2), 249-255. https://hdl.handle.net/2078.5/218159 (Original work published 2023)