Americans are making regretted impulse buys on social media — why it’s a challenging time with surging inflation

Social media is enticing users to make impulse purchases — and the price is often regret.

Nearly half (49%) of social media users in a Bankrate survey from July said they’ve made an impulse purchase of a product they saw on a platform they use. Even worse, nearly 2 in 3 (64%) said they wished they hadn’t made at least one of those buys.

“Some days it seems like everyone but you just bought a new car, is on a European vacation or is eating out at the fanciest new restaurant,” says Lisa Fischer, chief lending and growth officer at Mission Lane. “Seeing images and advertisements like this can make someone feel insecure about their own financial situation and subsequently cause them to spend more just to feel like they belong.”