According to a study done by University of Michigan researchers, shopping to relieve stress was up to 40 times more effective at giving people a sense of control and that shoppers were three times less sad compared to those that only browsed1
More than half of the 1,000 consumers polled by Credit Karma said they have impulsively2
shopped to deal with feelings of stress, anxiety or depression. Twenty-three percent of respondents said they've maxed out a credit card in the past year.
Millennials, 68 percent, responded by saying they have stress spent in the past, compared to 53 percent of Gen Xers and only 26 percent of baby boomers.
In regards to genders3
, 48 percent of men and 31 percent of women who have stress spent said they had purchased alcohol when stressed. Eighty-two percent of women stress spent on clothing compared to 52 percent of men. Women also lead stress spending for jewellery, 42 percent, compared to 22 percent for men with men stress spending more for electronics 44 percent versus4
30 percent for women.
In fact, shopping to reduce stress can actually help you live a healthier life by making sure that your blood pressure is lowered. Shopping to relieve stress is also called retail5
therapy as a form of regulating stress.
The survey found that that 82 percent had only positive feelings about their purchases and that the positive mood boost that followed those purchases was long-lasting.
However, the side effect of retail therapy, for many, can start out as a relatively6
harmless mood booster but could possibly grow into a compulsion that drains finances, causes conflict, and thereby7
adding a significant amount of stress to a person's life.