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Many Americans “Doom Spend” to Deal with Stress

Worried shoppers seek comfort by making buys

Published

3 years ago

November 29, 2023

Shop! Association

Drazen Zigic/iStock.com

More than one in four American shoppers are engaging in “doom spending,” a recent survey conducted by Qualtrics for Intuit Credit Karma found. The study defines “doom spending” as spending money to cope with stress related to concerns about the economy and foreign affairs to cope with stress.

“Much like [online] doom scrolling, we’re seeing people mindlessly shop to soothe concerns about the economy and foreign affairs, which could take a toll on their financial well being,” said Courtney Alev, Consumer Financial Advocate at Credit Karma.

Other findings within the survey include:

More than a quarter of Americans (27 percent) “doom spend” to cope with stress.
96 percent of Americans are concerned about the current state of the economy.
Nearly one third (32 percent) of Americans have taken on more debt in the last six months amid increased spending (27 percent).

The survey was conducted online within the United States by Qualtrics between Nov. 3-Nov. 9 with responses from among 1004 adults ages 18 and up.

Click here for more from the survey.

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Shop! Association

The Shop! Association is a global trade association dedicated to advancing the retail environment and experience industry. Its purpose is to empower members to innovate at retail by connecting them with education, insights, and events that support collaboration and forward-thinking solutions. From ideation through implementation, Shop! engages its diverse membership to co-create innovations that help shape the future of retail worldwide. Central to its mission is fostering an inclusive culture that embraces diverse voices and upholds high standards of ethics and transparency. Since 1956, Shop! has empowered its members to innovate at retail through education, insights and events. Learn more by visiting shopassociation.org. Interested in joining the Shop! Association? Reach out to Dina Meindl, Membership Services, for more information today! dina@shopassociation.org.