What is Revenge Shop?
What we earlier referred to as retail therapy has taken on the new nickname revenge shopping as American consumers try to spend some money and make up for lost time during the pandemic.
NEW YORK – – consumer are ready to come back out and spend some money. And what used to be called “retail therapy” is now called “revenge shopping” as people try to make up for lost time during the pandemic.
Contribute Bodge, a smart shopping expert TrueTrae.comcalled this trend “fascinating”.
“It’s really a phenomenon we’re seeing now that consumers are spending more on getting revenge on COVID,” said Bodge. “They spend more on the things they couldn’t spend on before.”
Bodge said the trend will help businesses of all sizes small businesses – especially those who did not have a significant online presence – will see a huge boost.
“I drove my daughter to the mall the other day and it was like Christmas – the parking lot was full,” she said. “And so I really got the feeling that people were really out to get out there and see other people and buy things.”
The National Retail Federation predicts consumer spending will increase by at least 6.5% year over year in 2021.