Making Money Moves

Money can’t buy happiness, but it sure does help to alleviate stress and uplift moods, even if it may be deemed temporary. But is retail therapy just a fancy excuse to shop, or does it actually work?

- Asri Jasman

“When I shop, the world gets better, and the world is better. But then it’s not, and I need to do it again,” admits Confessions of a Shopaholic’s Rebecca Bloomwood, right after she was shamed during a live in-studio interview for her multiple attempts at dodging a debt collector.

The 2009 film overdramatises the act of shopping—or rather, over-shopping—to some incredulous degree. Bloom, for one, owns multiple credit cards and even has one frozen in a block of ice in case of emergencies. Then there’s the happenstance of her landing a job as a columnist for a finance magazine, dishing out advice as she battles her own financial issues.

But as Bloom details her penchant for spending way above her means to her fellow Shopaholics Anonymous members, there’s a relatable sense of déjà vu that almost any person who finds some semblance of pleasure in shopping can relate to—“The joy you feel when you’ve bought something, and it’s just you and the shopping.” Idyllic, perhaps, but it sure does sound therapeutic.

Retail therapy is a concept that was first referenced in the ’80s. The Chicago Tribune is said to be among the first published uses of the term, in an article referencing research which suggested that time spent on shopping per week (in 1986) “remained stable for decades” at 113 minutes for the average adult. The statistic solely refers to what the article calls general shopping and is separate from shopping for groceries or services. In essence, it’s a suggestion that retail therapy is non-essential and is brought about by the increased purchasing power of an individual, beyond the most basic necessities.