Rising Trend of Thrift Store Shopping in America

The trend of 'doom spending' has surged among young Americans post-election, as they turn to shopping sprees to cope with emotional turmoil, often leading to increased credit card debt, with over half of cardholders reportedly in debt. Financial advisor Tamar Hermes warns that while shopping can provide a sense of control, it is crucial to maintain a budget to avoid long-term financial stress, as interest rates on credit debt are soaring. Concurrently, thrifting has gained popularity, especially among younger consumers, with 20% of Americans now shopping at thrift stores, driven by the desire to save money and find unique items. Retailers such as Target are responding to this trend by offering more affordable gifts, particularly under $10, to attract budget-conscious shoppers during the holiday season. This shift in consumer behavior highlights a broader economic challenge as inflation continues to strain household budgets, prompting a reconsideration of spending habits. Overall, both doom spending and thrift shopping reflect a complex interplay between emotional well-being and financial realities.