How COVID-19 has increased the risk of compulsive buying behavior and online shopping addiction among young consumers

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Those who spend more than they can afford to satisfy unmet needs are prone to this behavior.

to provide adequate financial protection against ‘rainy days’, even high-income Indonesian households tend to save below this threshold .

With their ‘live-in-the-present’ attitude, millennials can expend considerable efforts to keep up with the latest trends, showcasing them on social media to gain approval from others and potentially boost self-esteem. By enabling young people to follow the lives of celebrities and well-known figures in various fields, social media provides an avenue that raises aspirational standards for the development of an idealized identity.

 

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