The researchers discovered that feeling down triggers self-centered thinking. This egocentrism augments the likelihood that some one spend more money than usual for an item, in order to make them feel better.
Depression Leads To Egocentrism Which Augments Money Spending
Related post: The consumer paradox
1 reply on “Retail therapy”
From my own experience in the past and numerous observations, some people get in a state of long term underlying depression/dissatisfaction which may be curable but not necessarily temporary. This unease does not surface on their face but such people become chronic spenders until the root cause is itself eliminated/treated.
Though, it may not always be in terms of money. You might as well be spending the “time” currency. Did you find yourself spending a lot of time on blogs or YouTube, which you would not otherwise be doing?
So next time you realise that you have started spending on non-essentials regularly, ask yourself what is it that is bothering you.