Are you ‘revenge shopping’ to relieve pent-up pandemic stress? 7 On Your Side has tips – WABC-TV

NEW YORK (WABC) — As COVID-19 vaccines become more available, consumers are starting to feel more comfortable spending – but specifically on items they feel they were robbed of last year due to the pandemic.

It is called “revenge shopping,” a phenomenon in which consumers are driven to indulge in items many felt they were deprived of due to the pandemic.

We all need retail therapy, and a splurge may seem like just what the doctor ordered after a year of lockdown.

So revenge shopping is all the rage.

According to Rakuten, which gives shoppers cash back rewards for what they spend, overall AOV, or average order value, is up 30% compared to March of last year.

The biggest drivers include
*Travel: +80% year-over-year
*Tickets to concerts, sports, and other events: +50%
*Toys and games: Up as well

Travel bookings have been mostly car rentals and lodging. Air travel continues to be soft as many are still skittish about flying.

But those who are getting on a plane are going all-out.

We are talking about lavish, luxurious, big bucket list trips selling out.

Families who have not seen each other are looking for ways to be alone together and booking reunions like a Bush to Beach excursion in Kenya.

The luxury travel site Black Tomato offer for a cool $6,000 per person without airfare is a hot ticket.

Apparel and fashion are also coming back in a big way.

Prada, famous for high-end bags and clothes reported a boost in 2021 digital online sales.

That’s great news for the Milan-based company. That city was hit hard early in the pandemic.

And yes – we are also indulging the kids, spending double what we did on gaming and learning toys last year.

We are also continuing to invest in home fitness. Peloton, Mirror and home gym equipment sales surged during COVID and aren’t showing any signs of slowing down yet.

The big takeaway: before you start, set limits for yourself and resist the urge to shop all at once to prevent overspending. Make a budget and keep to it.

If you plan on splurging on a trip or vacation, book now to take advantage of free cancellations or fully refundable promotions.

As more people start to book travel, demand will increase prices, and you’ll see smaller deals.

Shop smarter by using browser extensions to save and automatically apply cash back deals and coupons when shopping online.

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