Shopper’s Guilt Plagues Half of Americans: Survey
If you’ve ever felt a pinch of regret when making an impulsive purchase, you’re in good company. Approximately half—51%—of U.S. consumers say they feel guilty at times about spending money, according to a new survey. However, the results also showed that a good discount can go a long way in easing the burden.
Online shopping platform Slickdeals commissioned opinion research firm OnePoll to survey 2,000 shoppers to gain some insight into their buying habits.
They found that consumers tended to grapple with guilt over purchases roughly 20% of the time, making an average of $89 worth of “guilty” purchases per week, or $277,680 over the course of their adult lifetimes.
The top reason for shopper’s guilt, reported by 57% of the respondents, was later finding the item at a lower price. In fact, only 5% said they didn’t feel regret when they buy something at full price.
The No. 2 reason for feelings of guilt was believing the money could have been spent more wisely.
The good news for those who want to lose the guilt is that taking the time to identify deals and discounts could go a long way toward making you feel better about your spending. The survey found that 85% of respondents saw their guilt disappear if they managed to get a discount — so long as that discount was equal to or above the “magic number” of 23%.
The survey identified other potential ways to spend money without being racked with guilt:
56% of those who felt guilty spending money reported feeling better if they bought an “experience” rather than an object
70% felt less guilty when they spent money on others rather than buying for themselves
Likewise, some purchases sparked more guilt than others:
47% felt guilty when going out to eat
46% felt guilty when buying clothes
38% felt guilty when buying electronics
34% felt guilty when spending money on alcoholic beverages
30% felt guilty when buying snacks
Feelings of guilt can also lead consumers to delay purchases. According to the survey, 39% of respondents said they put off replacing a necessary home appliance for an average of 14 weeks because they felt bad about spending the money.
If you feel guilty about shopping, ask yourself if you regret the purchase itself or your spending habits in general. If you create a budget that provides money for indulgences, you might feel better when you treat yourself to a night out or a new smartphone.
Smart shopping strategies can also make you feel better. Use online shopping tools and apps to compare prices and find the best deals.
