Why do we use retail therapy as our coping mechanism?

Ever noticed how your Instagram feed seems to read your mind, showing you exactly what you "need" when you’re feeling down? A tailored collection of clothes, gadgets, and home decor pops up, promising to fill a void you hadn’t even recognized until just moments ago.In 2023, a Deloitte survey of over 114,000 adults across 23 countries found that nearly 80% made at least one splurge purchase in the past month to boost their mood—even though only 42% felt they could afford it.In this episode, we dive into the world of retail therapy, discussing:Why we turn to shopping as a coping mechanism?How brands leverage our emotions to drive spending?The role of technology in encouraging impulsive purchasesPractical steps to curb impulse buying and better manage financesWatch full conversation with Chandralekha: https://youtu.be/Dh59C7-PJE8?si=wVSqWqMy9uJ2QQkV*Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.Registration granted by SEBI, membership of BASL and certification from National Institute of Securities Markets (NISM) in no way guarantee performance of the intermediary or provide any assurance of returns to investors.Quotes or authorisations in this podcast are provided solely for educational purposes and relate to third-party products.