Revenge Shopping

3 Nov 2021

There's a bit of a phenomena post-COVID that we thought we'd chat about today - the concept of Revenge Shopping.

What is revenge shopping, why do we do it and can it be a problem?

Show Notes:

Revenge shopping is when you splurge on stuff in high quantities as an effort to be compensated (or to make up for) a period of being deprived.

Bloomberg article (linked below): “Revenge spending was seen as early as last April in China after the government began easing back to normalcy after the nation was the epicenter of the coronavirus pandemic in its early days. The impact on companies was clear: U.S. jeweler Tiffany & Co.’s China sales surged 90% in May from the year prior, while Hermes, the French luxury label known for its $10,000 handbags, raked in $2.7 million in one day from a store reopening in Guangzhou”

Why might revenge shopping be problematic:
- Buying more than you need
- Not being thoughtful or intentional with purchases might lead to buyers remorse or regret
- Wasted money/ time/ resources
- Fuels the fast fashion and fast decor machines (bad for the environment)

How we might avoid the pitfalls:
- Setting up our rules and not changing them because of a pandemic (or any situation in which we’ve been deprived. Like a lost job or change in situation)
- Remember our rules
- Shopping from a list
- Deferring purchases a little while
- Setting budgets
- Making sure things have homes to go in before you buy them
- Work your tolerance muscle - try to avoid the lure of instant gratification
- Putting aside half of your money to save instead

Bec's 60-day Christmas Countdown Challenge - link below

Reference links