Revenge buying

[3] The revenge buying mechanism is thought to have evolved as a reaction to the frustration and psychological discomfort caused by restrictions in the freedom of movement and commerce.

[4][5][3] The industries revolving around the production of these objects, a major source of revenue for the retail sector, saw huge losses during the lockdowns induced by the COVID-19 pandemic.

The United States and Europe followed the same kind of enthusiasm in consumers, and luxury brands posted remarkable growth compared to during COVID lockdowns.

[10] According to a March 2020 article in Business Insider, retail sales dropped 20.5 percent after the pandemic hit China—a percentage not seen since the 2007–2008 financial crisis.

According to researchers for the International Journal of Social Psychiatry, the purchase of luxury goods acts as a means for consumers to repress unpleasant emotions.

According to the UK Office for National Statistics , the volume of total retail sales recovered to similar levels as before the COVID-19 pandemic. [ 14 ]