The current world situation is proving difficult to live with. Fragile economies, global warming, financial crises, and near-constant political and social unrest is challenging the minds of many. Most of us have found ways to deal with the stress and anxiety this bombardment of bad news brings. Others, however, and especially millennials and Gen Z, are having difficulty coming to terms with what they see as a hopeless situation. And that's when they turn to coping mechanisms such as doom spending.
This relatively new phenomenon mimics retail therapy but with potentially far more worrying consequences. And it's a trend that's found a broad platform on social media. But how concerned should we be about doom spending, and can it be curbed?
Click through and spend time learning more about this alarming consumer trend.