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Study shows New York residents are spending $1.6 billion on retail therapy

  • / Updated:
  • Staff Report 

A study has revealed New York residents are spending around $1.6 billion dollars on retail therapy.

The survey, completed by CouponBirds, questioned 3000 customers. They asked about online shopping habits, which showed 49% said they buy things just to make themselves feel better. This is known as “retail therapy,” or going shopping just to make yourself feel better and for no other reason.

By using this data, it appears that more than an estimated 7.6 million people buy things just to feel better. One out of every ten people looks forward to Black Friday more than Thanksgiving shopping. One in three people start saving for Black Friday three months in advance. As mental health struggles continue, retail therapy has become a more permanent fix, according to My Twin Tiers.

Finger Lakes Partners (Billboard)

Data also showed that 45% of respondents would rather buy things than exercise in order to feel better. 15% have said they’ll still go shopping even if they can’t afford it. Many Americans feel that the country is facing a mental health crisis, so this data isn’t surprising.

With Black Friday approaching, the danger of Americans overspending when they can’t afford it is there. The average cost of one of these shopping sprees is about $212.95.

Categories: New York StateNews