Shopping for shopping’s sake has become a “national pastime” for many Asian countries, a global online survey done by AC Nielsen suggests.
Of the top ten markets where people shop regularly for recreation, seven are in Asian countries: people in Singapore, Hong Kong, and Thailand rank the highest in the world. On average, they shop twice a week for recreation. In the booming Chinese market, 33% of responders said shopping for clothes is their favorite activity. In India, another emerging powerhouse, 20% said the same thing. According to this survey of 22,000 Internet users in forty-two markets, three-quarters of the world’s consumers admit to shopping as entertainment when they do not need anything. Is it any wonder compulsive buying is on the rise?
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.