It all starts with me browsing Instagram watching a woman baking chia seed muffins in her perfect kitchen. Now, somehow, I’m on a fashion retail site that targets midlife women, browsing jumpsuits. I notice one that’s reduced by 30 per cent, and quickly select my size and drag it into my cute little basket.
It takes three seconds. There’s also a pay in three parts option. Even better.
I get email confirmation. I feel good. Or do I? The moment I’m aware I feel good, the feeling rapidly ebbs away.
I don’t need another jumpsuit. I have several. I’m not even sure jumpsuits suit me.
It’s the middle of a heatwave! I feel a twist in my guts, anxiety at buying yet another item of clothing that I don’t need and can’t afford. A few days later I’m at it again – buying yet another big collar blouse. I already have 12 of them.
I’m a middle-aged doom spender. If you haven’t heard of the term, doom spending is basically spending money on short-term, instant enjoyment, rather than saving it for the future, to cope with economic stress and worries. It could be described as Gen Z’s version of retail therapy.
A recent study by Credit Karma found 43 per cent of millennials and 35 per cent of Gen Zs doom spend to make themselves feel better. It’s also more common because we have access to phones 24/7, and can often get flexible credit arrangements. Heaven for shopaholics and those with addictive personalities! I’m a Gen X woman and definitely a doom spender too.
As.