After reading the economic model in this article, and the part that said that consumers were not impulsive, it made me think of the Youtube "haul" community and how I believe that almost all of that shopping is impulsive. There is a whole community that makes videos of "hauls," basically a bunch of clothes/makeup/anything they buy, and then shows it all in a video for people to watch. I think this huge phenomenon is just another example of how consumer obsessed many of us are, and how a younger generation is starting out this way. Shopping is extremely social for them, they buy what they think will look "cool" to show to others. Making the "haul" videos seems like a way of fitting in to a lifestyle, even if the person isn't wealthy like others who make videos. I think many people watch to live vicariously through them, which is what reality shows like the Real Housewives also do.
I also have to agree with Ashley in that I don't understand how many people think that credit cards are free money. I'll be the first one to say that I am horrible at saving money and I blow through my paycheck every week. I don't have a credit card, but my friend who does has tons of school loans and 3 different credit cards with very high balances. I just wonder what is going to happen to her, and other people with insane balances? When will people learn?
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