Emotionally Loaded Consumption in Modern Russia. Part One: Theoretical Basis for Research

Abstract

The article introduces a category of emotionally loaded consumption, in which the emotions play a dominant role persuading the consumers to buy excessive in relation to their current needs and financial capacities goods and services. The author conducts a comparative analysis of panic, impulsive, and compulsive buying. Panic buying is defined a spontaneous hoarding of excessive goods and making stocks due to actual or expected scarcity or price increase. Impulsive buying includes unplanned acquisition of goods and services without second thought and consideration of consequences. Compulsive buying is categorized as a repetitive and non-controlled buying of goods and services to cope with negative emotional conditions. Basing upon the previous studies, the author shows that all three types of emotionally loaded consumption include various combinations of emotional, cognitive, and social elements. They also remarkably differ from conventional patterns of the rational behavior pursuing one’s own economic interests in a coherent way. In the second part of the study, which is to be published in the following journal issue, the author will investigate the main antecedents and some financial consequences of the emotionally loaded consumption. Empirical part is based upon on data from a nationwide representative survey of the Russian population in June-July 2023.

Acknowledgements. The study was conducted in the Laboratory for Studies in Economic Sociology at the HSE University in the project ‘Economic Behaviour of the Households’ and supported by the Program for Basic Research of the HSE University. The author thanks Timofey Nestik, Olga Simonova, and Zoya Kotelnikova for their valuable comments on the manuscript of this paper.