How UAE shoppers deal with stress: spend more

When under stress UAE residents tend to overspend while shopping.

A survey carried out among UAE shoppers concluded that 70 per cent of the consumers polled admitted to spending more when they shopped feeling stress; 41 per cent saying to spend slightly more and 29 per cent saying to spend a lot more than they had planned.

The survey was carried out by souqalmal.com, a price comparison site monitoring the UAE market.

According the Ambareen Musa, CEO of souqalmal.com, overspending can lead to feelings of guilt or regret, as the spending went beyond means and was not as planned. “Unless you have all the money of the world, overspending has the potential for regret; it may lead to debt, which the consumer might not be able to repay, then there is interest over the debt, and so on.

“The UAE is a heaven for shopping and we probably have more the urge to spend, as it is all around us and we live a very busy lifestyle. But we have to be careful when we spend,” says Ambareen.

One of the potentials for overspending is present-shopping, thinks Ambareen. “There is the pressure to buy something nice for all your loved ones, and you have to do it before a certain time. When you do it last-minute, you might not find what you were looking for, the shops are more crowded and there is not much time left. You might end up buying something you did not want to buy.”

Crowded malls, no parking, time pressure and fewer items available can all lead to stressful shopping, and overspending consequently.

However, shopping may also be considered a de-stressing therapy by some. But also here overspending is on the lure, and not helpful at all.

“When people feel depressed or upset they sometimes do whatever makes them feel happy. Suggested is that spending money makes people feel better about themselves. This increase of self-confidence makes them feel better at that point.”

But, it does not bring sadness to an end, and it may lead to more problems as this kind of shopping usually lends itself to spending what the consumer was not planning to spend.

“Although many choose ‘retail therapy’ to de-stress, it would appear that this should be avoided and instead you should wait until you are calm and relaxed before heading to the mall,” advises souqalmal.com.

Also important is do your shopping homework, believes Ambareen. “You should do your research; find out where the best deals are and which shops have the best offers.

“When you go out shopping for your loved ones; make a list of all the people that you need to buy a gift for and have a budget for each person. 

Try to stick to it!

“In this way you may actually be able to save money,” thinks Ambareen. “There are many deals out there. Moreover, many banks have partnerships with certain retailers and you could be able to make extra savings. Going shopping without doing your research might make that you miss out on all these deals.”

Furthermore, souqalmal.com advises people to avoid the malls at their busiest times and to plan ahead.  The deadline element is a very stressful factor and can easily lead to overspending, Ambareen thinks.
 

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