Study Highlights Increased Shopping Addiction Among Youths Amid Pandemic
PANDEMIC SHOPPING ADDICTION – According to a study, the youth have an increased risk of shopping addiction due to the pandemic.
Nowadays, especially amid the pandemic, people tend to have a You Only Live Once (YOLO) mindset. This leads to many people with a living in the now attitude, so why not just check out that thing you wanted online? With fears striking the heart of millions, a large percentage of the population stay at home to avoid contracting the dreaded COVID-19 virus.
But, among the most affected are youths who many were in the highlights of their academic years. Now, instead of going to school, students stay at home and utilize the internet in their spare time.
Eventually, this led to a decline of brick and mortar shops and the rise of e-commerce. With “MEGA EVENT SALES” and more accessible platforms, the youth are bombarded with affordable items online.
Naturally, seeing such discounts become enticing even to sensible adults. However, Global consulting firm Bain & Company revealed that compulsive buying among youths has risen to large percentages.
According to the firm, Indonesia’s digital consumer population is expected to balloon to 15% from 144 million last year to 165 million in 2021.
Meanwhile, in countries such as the Philippines, online shopping platforms such as Shoppee revealed how online payments have surged by 400% due to the pandemic.
Shoppee PH Director Martin Yu said that even if brick-and-mortar establishments progressively reopen, Filipinos are likely to continue visiting online sale events since e-commerce platforms provide special bargains and tempting discounts, he said.
COVID-19, according to the Bangko Sentral ng Pilipinas, has advanced digital payments such as PesoNet and InstaPay. By 2023, the BSP wants at least half of all transactions to be completed online.
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