Almost half of the women aged 18 to 30 who were surveyed displayed signs linked with compulsive buying disorder. Silvia Razgova / The National
Almost half of the women aged 18 to 30 who were surveyed displayed signs linked with compulsive buying disorder. Silvia Razgova / The National



ABU DHABI // With mega malls, 24-hour shop openings during public holidays and month-long shopping festivals, the UAE is world renowned as a destination for consumers.

Researchers, however, say the lure of shopping and the effect it has on us needs more study after nearly half of a sample of female students at Zayed University showed signs of a condition characterised as compulsive buying disorder, or CBD.

The study, carried out by psychology graduate Salwa Al Menhali, found that 44 per cent of the 88 women aged 18 to 30 who were studied displayed signs linked with the condition.

“Research has suggested that this disorder is most prevalent among young adults,” said Ms Al Menhali, a 22-year-old Emirati. “Most agreed that when they have money, they feel a need to spend it.”

Dr Justin Thomas, a psychology lecturer at the university, said studies had shown non-essential items such as make-up, shoes and clothes were the top purchases for women who suffer from the disorder, which he said is much underestimated and poorly studied.

“For a lot of psychologists, you don’t see it a lot,” he said. “It’s not had the status as a disorder, but shopping addiction is seen as an ‘almost disorder’ and hasn’t been taken seriously.”

Dr Thomas said the fact the UAE has more per capita shopping spaces than anywhere in the world could make the condition more prevalent.

“There are relatively high levels of disposable income, a young population and, if there is such a thing as CBD, which I believe there is, you’re highly likely to see it here.”

Maryam, a study participant, said that she feels addicted to buying make-up and has even developed strategies to prevent her from being tempted, such as going to cinemas in malls only after 10pm, when the shops are closed, and taking longer routes to her destinations to avoid stores.

However, she said online shopping was always a temptation and she can spend up to Dh2,000 a month.

The 21-year-old also said she did not just buy one item, instead shelling out on batches of three at a time.

Ms Al Menhali said CBD could be linked to people’s attitudes towards money. “People have easy access to credit cards, there is high income in the UAE and a lot of media influence. Many people get into debt and have loans,” she said.

Maryam, whose spending is financed by her parents, said: “I always feel guilty but I just keep doing it. Maybe because I don’t have anything to pay for so I just waste my money on make-up.”

Dr Thomas said that living with CBD can be a daily struggle. “The behaviour Maryam displays, the change of mood, the avoidance strategies, the tension, is similar to what you’d see in a drug addict who’s clean and doesn’t want to fall off the wagon.”

Ms Al Menhali said most of the women surveyed also showed signs of depression. “Depression has been linked with this disorder in research and most of the women showed signs of depression,” she said. “But it needs more research.”

Maryam said her compulsion was boosted by the sense of happiness it gave her. “I know that what I’m doing is wrong. Make-up makes me happy though,” she said. “I feel happy when I’m wearing make-up.”

mswan@thenational.ae

Sri Lanka-India Test series schedule

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How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

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