Does wanting more lead to losing control? Examining the psychological drivers of compulsive buying

Abstract

Purpose The purpose of this research is to shed light on the chain of psychological and behavioral effects that precipitates from a materialistic state of mind. Specifically, this study examines the psychological impact of materialism on younger consumers and in turn, their compulsive buying (CB) habits. This study also proposes possible interventions that may enhance consumer resistance to materialism and buying impulses and, ultimately, protect consumers’ mental and financial well-being. Design/methodology/approach An online survey was assembled in Qualtrics using reputable scales from extant marketing and psychology literature. The survey was completed by 193 young adults. Structural equation modeling was used to evaluate the proposed model of psychological drivers of CB. Findings The results suggest that young, materialistic consumers are at high risk of developing depression. Moreover, obsessive-compulsive (OC) tendencies and impaired self-esteem (SE) resulting from this depression may facilitate and fuel CB addiction. Despite no evidence for a direct link between depression and CB, the results indicate that this particular relationship is fully mediated by OC behavior and low SE. Social implications The discussion provides a detailed list of various behavioral modifications to help reduce consumer susceptibility to materialistic values and CB addiction. Originality/value This study contributes to consumer research by proposing an alternative conceptualization of the traditionally direct relationship assumed between materialism and CB in the literature. The facilitating roles of depression and its psychological byproducts (i.e. impaired SE and OC disorder) are examined as precursors of CB. Implications and suggestions for consumers battling CB addiction are provided.