Study: ‘Retail therapy’ costing Virginians $490 million this holiday season

A session of “retail therapy” after a challenging day or a difficult week can lift our spirits, although temporarily.

But a new study reveals that Americans are purchasing products online as more of a permanent fix for mental health struggles.

CouponBirds polled 3,000 consumers about their online shopping habits, and more than 2.3 million Virginians are shopping to make themselves feel better to the tune of $490 million. One in 10 polled said they look forward to Black Friday more than Thanksgiving Day. Each retail session can cost a Virginian shopper an average of $212.95.

While not the cause, the COVID-19 pandemic exacerbated mental health for many Americans. In Kansas, the study revealed, 83 percent admit to retail therapy, or 1.8 million Americans. The least dependent on stuff are West Virginians where only 11 percent, or 159,000 Americans are likely to turn to retail therapy for comfort.

CouponBirds’ survey also revealed that retail therapy is coming at the expense of other ways of improving mental health. Given the choice, 45 percent said they are more likely to shop online than exercise to lift their mood. Fifteen percent said they go on spending sprees even when they cannot afford it.