Borrowing to Cope with Life: The Reality of Retail Therapy

Truth Behind Retail TherapyPeople, in bouts of depression, have different ways of coping. Some people turn to stress eating, working out, playing sports, ranting on social media, writing blogs or shopping. The last example is a manifestation of what people now know as retail therapy. If, for example, you are stressed out but have no money, how will you be able to cope, then?

Rapid Loans, an online alternative lender, cites a few examples for smart borrowing. This’ll help you choose the right loan for whatever purchase or activity you have in mind, given your current financial standing. This involves four aspects: knowing your credit rating, never borrowing more than you need, reading the fine print, and asking the important questions. For you to be able to borrow efficiently and cope with life through retail therapy, make sure you know the loan you are applying for.

The Truth behind Retail Therapy

The Journal of Consumer Research cites how consumers turn to shopping when trying to cope with the hardships of life. The only difference it has from their typical shopping habits involves being much more selective in what they buy.

Tammy Faye Bakker once said, ‘I always say shopping is cheaper than a psychiatrist’ and this is what retail therapy is about. The aforementioned research reveals that consumers buy products as a reaction to their self-imaging, and also, as a way to shield themselves from their fears.

Another research from the same journal confirms the efficacy of retail therapy by stating how it can really benefit your well-being. Rik Pieters, a professor at the School of Economics and Management at Tilburg University, studied the bidirectional relationship between materialism and social isolation. He explains how materialism offers the tendency for one to feel lonelier, but it does work against depression for other consumers.

People choose to shop when they feel depressed because it is the act of buying and owning something new wherein they feel like they have recovered from a loss.