Spaving is a marketing strategy where consumers are encouraged to spend money to gain access to savings. Common spaving tactics include discounts, sales, and promotions such as free shipping at a certain threshold and buy one, get one free. The term is a portmanteau of the words spending and saving. The concept has been popularized by online retailers and social media.
Spaving has been criticized as a financial pitfall causing consumers to purchase more than needed and creating excessive buying habits.
Consumers engage in spaving due to fear of missing out and loss aversion. Consumers who excessively engage in spaving are referred to as spavers.
References
- ^ Dickler, Jessica (6 May 2024). "Americans can't stop 'spaving' — here's how to avoid this financial trap". CNBC. Retrieved 19 May 2024.
- Nair, Deepthi (22 December 2023). "What is spaving and how can you avoid this financial trap?". The National. Retrieved 19 May 2024.
- "Americans can't stop 'spaving' — here's how to avoid this financial trap". TODAY.com. 8 May 2024. Retrieved 19 May 2024.
- Coggins, Madeline (14 May 2024). "Finance expert sounds alarm over 'spaving' trend: An old 'trap' with a new name hitting your wallet". FOXBusiness. Retrieved 19 May 2024.
- "Breaking down 'spaving,' does saving money by spending it work?". Yahoo Finance. 17 May 2024. Retrieved 19 May 2024.
- Cerullo, Megan (13 May 2024). "Think "spaving" — or spending to save — can save you money? Think again. - CBS News". www.cbsnews.com. Retrieved 19 May 2024.
- Bologna, Caroline (9 November 2023). "Are You Guilty Of 'Spaving'? Here's How To Spot The Toxic Spending Habit". HuffPost. Retrieved 19 May 2024.
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