Do you know what the ‘Doom Spending’ trend is?

In recent years, a term has emerged to describe a growing trend among consumers: “Doom Spending”. This concept refers to the phenomenon where people, faced with situations of uncertainty or collective stress, such as pandemics, economic crises, or political instability, begin to spend impulsively, seeking to compensate for the emotional discomfort these circumstances generate.

What is Doom Spending?

“Doom Spending” refers to the act of making purchases, often unnecessary or luxury ones, driven by pessimism or the feeling that the future is uncertain or bleak. It is an emotional and psychological response to anxiety or stress, where consumers seek immediate gratification through the acquisition of goods or services.

Unlike other types of impulsive buying, “Doom Spending” is not necessarily motivated by a lack of control but by the idea of seizing the present, as the future seems uncertain or threatening. This consumer behavior is often related to the feeling that external events, such as pandemics or climate change, are beyond individual control.

Causes of Doom Spending

There are several reasons why people may engage in “Doom Spending”:

• Stress and uncertainty: Anxiety caused by global crises can lead people to seek emotional relief through purchases, seeing them as a way to escape their worries.
• Instant reward: Shopping provides momentary satisfaction. Buying something new can produce a brief spike in dopamine, resulting in a sense of pleasure and well-being.
• Fear of the future: The idea that the future is uncertain, or even apocalyptic, can lead people to think they should enjoy the present. This can result in excessive and impulsive consumption.
• Social and marketing influences: Companies and advertising campaigns often exacerbate these feelings of urgency, encouraging consumers to spend on experiences or products with “now or never” messages or promises of exclusivity.

Consequences of Doom Spending

While shopping can provide temporary relief, “Doom Spending” can have long-term consequences. Among the most common are:

• Financial problems: Spending more than necessary or more than one can afford in the long term can lead to financial problems, debt accumulation, or difficulties maintaining economic balance.
• Guilt and regret: Once the initial excitement fades, many people feel remorse for having spent on something they didn’t really need or couldn’t afford.
• Stress cycles: The relief obtained through shopping is temporary. This can lead to a cycle where the person, after feeling guilt or anxiety for their purchase, spends again to try to relieve those feelings.

How to Avoid Falling into Doom Spending

To avoid falling into “Doom Spending”, it is essential to develop greater awareness of our emotions and how they affect our purchasing decisions. Some helpful strategies include:

• Practicing gratitude: Appreciating what we already have, instead of constantly seeking new acquisitions, can reduce the need for impulsive shopping.
• Having a clear budget: Setting financial limits and sticking to them can help control impulsive spending.
• Analyzing purchases: Before making a purchase, ask yourself if the product or service is truly necessary or if it responds to a momentary emotional need.
• Seeking alternative emotional relief: Exercise, meditation, or talking to friends can be effective ways to reduce stress without resorting to shopping.

“Doom Spending” is a phenomenon that reflects how emotions and the environment affect our consumption decisions. In times of crisis and uncertainty, it is common for people to seek comfort through spending, but this can have negative consequences. Developing financial and emotional awareness is key to avoiding this behavior pattern and maintaining balance in our finances and mental well-being.