To find out more about what’s going through our minds when we feel an urge to buy things we don’t need or don’t have money for, Bored Panda reached out to professor Michael R. Solomon who happily shared some insights into consumerism and our behavior in relation to it. Michael is a professor of marketing in the Haub School of Business at Saint Joseph's University, as well as renowned international speaker and multiple book author. Check out his recent book “The New Chameleons: How to Connect with Consumers Who Defy Categorization” which gets into some of these issues discussed in the article.

Michael argues that in a typical day, consumers are exposed to thousands of commercial messages. “We don't pay attention to the vast majority of these, and we don't immediately act on most of them, either. However, some of this information still gets stored in memory, and it can be activated later if we encounter some kind of 'trigger event'—that could be the appearance of a new need or want, a conversation with a friend, or perhaps exposure to a similar message on another day,” he explained.

Moreover, we don't buy until a need is activated, the consumerism expert said. “But today a lot of that activation is vicarious, as we watch online posts by others whose opinions we respect (rightly or wrongly) as they advocate use of a product or service. This activation may reflect a genuine need or want that we weren't aware of—or it could just be FOMO."

Interestingly, the particular things we consume may reveal a lot about us. “There's a lot of research support for the notion that our purchases reflect our personalities and inner needs—an extravert may choose a flashier car or color than an introvert, for example,” Michael said.

He explained that indeed, “in many cases these products are part of 'the extended self'; important personal possessions and linkages to social groups like political parties or music subcultures are part of our self-concept. We have expressions like, 'you are what you wear, eat, drive, etc.' and there is a lot more truth to these than most people think! Our consumption choices—food, apparel, music, etc.—often are an expression of our values, priorities, and personalities.”

But our urge to spend on particular things also depends on more profound things than just exterior influences, like the ads we see. This has to do with a person’s self-concept which, according to Michael, is a work in progress.

“It constantly gets fine-tuned, as we measure our worth or proficiency on different dimensions such as intellectual ability, athletic performance, body shape, etc. But these judgments can only occur if we compare ourselves to some standard—for example, my self-assessment of my skill as a tennis player depends a lot on whether I play a novice or a professional athlete.”

“That's why the process of social comparison is so important, Michael told us, “as is our choice of whom we compare ourselves to.”

However, he argues that the problem is that the media often provides a comparison point that is unattainable and so we're on a constant quest to get closer to a standard that may not even exist in real life. “For example, research shows that when young girls spend just a short time looking through pictures of women in fashion magazines, their assessments of their own appearance go down markedly. But typically the women they compare themselves to literally don't exist—they are digitally altered to be flawless so that the models don't even look like their photos!”

Michael added that “again, social media exacerbates this process because a lot of it is about sharing a plethora of idealized images of attractive people doing glamorous things. Then that good old FOMO kicks in and we may invest in new items (cosmetics, clothing, travel, etc.) that we believe will bring us closer to this (impossible) ideal,” he concluded and added, “so the cycle continues…”