Have you ever had a stressful day that left you feeling frazzled and needing a pick-me-up? Chances are you've turned to retail therapy to improve your mood. Buying yourself something after a tough day or week can be a powerful way to boost your spirits and help with the release of dopamine — the hormone responsible for good feelings. 

The experience brings joy, pleasure, and a sense of control over your environment. But what is retail therapy really? In this article, we'll unpack the power of shopping and how Accrue Savings can help you save up for your retail therapy purchases, giving you even more bang for your buck.

“Retail therapy” is a term used to describe shopping as a coping mechanism. It’s an act of self-care and can involve buying something for yourself or browsing for potential purchases.

Going out and buying something for yourself can be incredibly therapeutic and empowering. It can be a way to reward yourself or to distract from negative thoughts and emotions. 

An example of retail therapy could be going to the mall or your favorite online store to browse for new clothes or adding something to your online shopping cart. You might take your time and try on a few items you think you would like or even try something you wouldn't normally wear. 

Alternatively, you could purchase a small item you have been eyeing for a while, such as a new book or piece of jewelry. 

This could be a way to treat yourself and recognize your achievements. It can also involve window shopping or simply looking at items that interest you and enjoying yourself without making any purchases. The idea of retail therapy is not to overspend or go into debt, but rather to spend what you can afford.

Signs of retail therapy

When engaging in retail therapy, you often follow a pattern of behavior which includes:

• Shopping more than usual or feeling like you have to shop to feel better, particularly when in a bad mood, feeling down, or having emotional distress
• Focusing heavily on material items, such as clothes and accessories
• Buying something impulsively without considering whether or not it's something you need
• Using shopping as a temporary escape from daily life

Retail therapy vs. compulsive buying disorder

Retail therapy is a term used to describe the psychological pleasure that you can experience when shopping. This feeling of happiness or relief from stress that comes with the act of shopping is referred to as "retail therapy." 

People who use retail therapy find that it helps with their mental health and relieves stress. Retail therapy does not mean going out and purchasing a lot of items; it just means that shopping helps improve your mental state. The items you buy during retail therapy are known as comfort buys.

On the other hand, compulsive buying disorder (shopping addiction) is a serious mental health issue affecting many people with compulsive shopping behavior. People with compulsive buying disorders feel an intense urge to shop and purchase new items, often for no rational purpose. 

They cannot control their buying habits, and it causes them significant distress. Shopping addiction can devastate relationships, finances, and mental health and should be addressed by a mental health professional. You may often splurge beyond your means to satisfy the urge.

You may turn to retail therapy when you feel down, anxious, or stressed. Shopping for something new can provide an immediate boost of endorphins and a sense of accomplishment in purchasing. 

Retail therapy can be used as an antidote to boredom and provide a temporary distraction from everyday life. It can also help you achieve control and make you feel like you are taking action. Shopping can also be an opportunity to treat yourself, which can be especially helpful when life throws a curveball.

Retail therapy can be a great way to lift your spirits, reward yourself for a job well done or simply distract from the stresses of life. But you should also be aware of the potential pitfalls, as it can become an addictive habit if not kept in check.

Benefits

• An immediate boost of endorphins: Shopping can provoke a rush of neurotransmitters such as dopamine and endorphins, giving you an immediate feeling of pleasure.
• Stress relief: The act of shopping and the anticipation of making a purchase can provide an escape from worries, anxieties, and stressors. 
• Improved self-confidence: Purchasing something new that makes you look and feel good can be a great way to boost your self-esteem and confidence.
• Sense of accomplishment: Making purchases can provide a sense of accomplishment and be used as a reward for achieving goals.
• Self-care: A little retail therapy can be a great way to show appreciation for yourself by buying something special you would not normally purchase.

Pitfalls

• Overspending: Shopping can become addictive if you are not careful, resulting in overspending and money problems.
• Impulsive purchases: It's easy to get caught up in the moment and make impulsive purchases you regret later or have buyer's remorse.
• Shopping addiction: Retail therapy can become unhealthy if used to cope with difficult emotions or stress. You should be aware of the signs of compulsive buying disorder to ensure it's not negatively impacting your life. 
• Social isolation: Shopping too much can lead to social isolation, as you spend more time online shopping and less time connecting with others.
• Unsustainable lifestyle: Spending too much money on items that are not necessary can lead to an unsustainable lifestyle. You may find yourself going into debt to maintain your shopping habits.

Although retail therapy can be a powerful form of self-care, avoid overspending and taking on debt. The key to successful retail therapy is to engage in mindful spending and be aware of the potential pitfalls. Here are some tips for managing retail therapy without breaking the bank:

1. Make purchases with a savings platform like Accrue Savings

You can easily make purchases with Accrue Savings by setting up a savings account, where you save up for big purchases without interest or fees. This helps ensure you can afford what you are buying and prevents impulsive shopping. 

Our platform has also partnered with some of your favorite brands that contribute up to 20% toward your saving goal. The money can be used to purchase the item you have been saving for. Making purchases with Accrue Savings helps you control your spending and make informed decisions about how you spend your money. 

2. Consider second-hand shopping

Shopping second-hand allows you to get great deals on gently used items that are still in excellent condition. This can be a great way to update your wardrobe or home decor without spending a fortune. Plus, you can often find unique items that you wouldn't be able to buy in stores. Consider vintage stores, thrift shops, or online second-hand marketplaces.

3. Hold out for promotional deals and markdowns

The best way to ensure you don't overspend on retail therapy is to wait for the right promotional deals or discounts. Even if you see something you love, waiting for a sale or discount code is probably better. 

Many stores offer sales and discounts at certain times of the year, like Black Friday, December holiday sales, and Cyber Monday, so it's worth checking when your favorite stores have sales and promotions. You can often get huge deals on clothing, accessories, and home decor.

4. Set and maintain a budget

You should always set and maintain a budget when engaging in retail therapy. A budget helps you stay conscious of your spending and ensures you don't overspend. 

Decide how much you can realistically spend each month on shopping, and never exceed that limit. Remember to also factor in taxes and shipping costs when budgeting for retail therapy.

5. Track and limit your spending 

It's easy to get caught up in the moment and spend more than you intended. To help manage your spending, track and limit it. You could use a budgeting app or spreadsheet to log your purchases so that you can keep a close eye on how much you're spending. 

Limit your spending by avoiding impulse purchases and impulse shopping. Stick to the items you planned for and look out for discounts or deals that can help keep your purchases within budget.

6. Explore healthy therapeutic alternatives 

There are healthy alternatives to retail therapy that can help you destress and feel better without spending too much money. Try yoga, meditation, exercise/sports, or even a new hobby to feel better. 

These activities can be just as effective at reducing stress and improving well-being without the added cost of shopping.

• Yoga is a great way to find relaxation and balance.
• Meditation can help reduce stress, improve your outlook, and help you stay more focused.
• Physical activity is a great way to release endorphins and combat stress.
• Taking up a new hobby can be an excellent way to enjoy yourself without spending money.

Save on your purchases with Accrue Savings

Compulsive shopping can lead to overspending, debt, and even addiction. However, with mindful spending and careful budgeting, retail therapy can be a powerful form of self-care. To ensure you don't break the bank, consider purchasing with a savings platform like Accrue Savings. 

With our platform, you don’t have to worry about credit card debt or financial distress because you’re not spending money you don’t have. Get started with Accrue Savings today and shop from our growing list of partners to reach your savings goals faster than ever.