According to the American Psychological Association, 15 million Americans are shopping addicts. According to Dr. April Benson, a psychologist and author of To Buy or Not to Buy, “Research suggests the internet is a really fertile ground for the development and maintenance of compulsive buying disorder.” Flash sales, which often last 24 to 72 hours, are especially enticing because the adrenaline rush of getting a good deal is much like gambling. Another draw of these sites is their exclusivity which makes users feel like they are keeping up with the rich and famous. If you find yourself deep in debt because you are hooked on these sites, you may be one of the 15 million.
Read the entire article here: Anatomy of an Online Flash Sale Addict
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.