Many people will have hit the shops or gone online to bag a bargain in the January sales and may have felt the pinch until their next payday. It is an annual tradition for some. For others, though, shopping is not something that can be easily controlled — and is used as a coping mechanism for anxiety and low self-esteem.
These compulsive shoppers are unable to resist strong inner urges to make repeated purchases and to spend excessively — even when they can't afford to do so, or have no use for the product they buy.
Recent research indicates that compulsive buying behaviour affects almost 5 per cent of the adult population in developed countries — particularly young women in low-income groups. And the condition is on the rise, with latest estimates indicating that about 14 per cent of people have a mild form of the condition.
While we're all familiar with impulse buying — from picking up a chocolate bar at the checkout to having a blowout on pay day — compulsive buying behaviour is very different.
When most people buy things they're generally motivated by value and usefulness. Whereas compulsive buyers do so to ease stress, gain social approval, and boost self image.