Whenever I had the slightest chance, I used to engage feverishly in online shopping– during work breaks, while commuting, on study holidays, weekdays, weekends – you name it. It became a habit I simply wouldn’t let go of, until I came to the stark realisation that my savings were dwindling rapidly. Surprisingly, I still have clothes and accessories purchased as far back as 2015, which I've barely used.
Over the past year, I've made a determined effort to curb my expenses, particularly reigning in my online shopping habits, which had become predominant.
The convenience of the ’add to cart‘ button brings instant gratification, flooding our brains with dopamine as we envision how every new purchase will enrich our lives. However, the reality often falls short of these expectations. As a reformed shopaholic myself, I've squandered thousands on items that barely saw the light of day—leaving me with nothing but debt, embarassment, and remorse.
Even if you don't consider yourself a shopaholic, chances are you've experienced buyer's remorse at some point. We're prone to purchasing things we don't truly need with money we could allocate more wisely elsewhere.
Wondering how to put an end to your online shopping habit?
Shopping is often driven by psychological factors; understanding this is key. Many of our purchases stem from a desire for instant gratification rather than genuine necessity. Over the past 25 years, online shopping has surged in popularity, fuelled by a $4.2 trillion global industry in 2020. This rampant consumerism can lead us to believe excessive shopping is normal when, in reality, it actually serves as a coping mechanism for managing emotions such as sadness, anger, or boredom.
It's easy to get hooked on the convenience of online shopping, especially with the proliferation of quick internet access and umpteen shopping apps. Retailers have made it incredibly effortless for consumers to indulge in constant buying, which might benefit them, but can wreak havoc on your financial situation and relationships.
A survey conducted by CBRE India found that over 70 per cent of Indian shoppers admitted to increasing their online shopping since the onset of the COVID-19 pandemic, with the intention to continue this trend in the future.
Advertisements bombard us relentlessly and so do persistent reminders about incomplete purchases, making it exceedingly challenging to resist the allure of online shopping. While there's nothing inherently wrong with shopping online, succumbing to addiction can lead to adverse consequences.
Identifying signs of online shopping addiction
Recognising whether you're addicted to online shopping is the first step towards addressing the issue.
Distinguishing between impulsive shopping and addiction is crucial. Impulse shopping involves spontaneous purchases prompted by ads or accessibility, such as grabbing extra items at the checkout. On the other hand, addictive shopping entails premeditated or compulsive spending behaviours.
Signs indicating potential online shopping addiction include:
· Visiting shopping websites daily, with shopping becoming an integral part of your routine.
· Losing track of purchases due to frequent shopping sprees or stress-induced spending.
· Diverting money from essential expenses to fund excessive shopping.
· Concealing spending habits from your partner or spouse.
· Accumulating credit card debt as a result of unchecked spending.
· Rationalising purchases by citing sales or discounts.
If these signs resonate with you, it's essential to take steps to break free from the grip of online shopping addiction.
Strategies to curb online shopping addiction
· Block shopping websites using browser extensions to eliminate temptation.
· Remove credit cards to limit access to funds and prevent impulsive spending.
· Delete stored payment information from browsers to create hurdles for online transactions.
· Avoid digital wallets like Apple Pay and PayPal to disrupt easy purchasing.
· Unsubscribe from marketing emails to reduce exposure to tempting promotions.
· Opt out of text message marketing by sending 'STOP' to unsubscribe from promotional messages.
· Unfollow and block brands on social media to minimise exposure to shopping triggers.
· Consider taking a break from social media to focus on more fulfilling activities and reduce shopping temptations.
· Delete shopping apps from your phone to eliminate easy access to online stores.
· Utilise prepaid gift cards with limited funds for online purchases to control spending.
· Seek professional assistance if self-help methods prove ineffective, as addiction is a serious issue requiring support and intervention.
By implementing these strategies and seeking help when needed, you can regain control over your online shopping habits and prevent financial and relational turmoil.