Your Labubu is ruining your self identity
Overconsumption is not cool
It’s a confusing time when the company of a plushie doll straddling between demonic and adorable find its valuation at US$40 billion. Labubus can be seen adorned on most women’s bags as a not so coy bag-charm or tucked neatly away in a cupboard boasting its rarity as a collectible. It’s not just a doll, but a strong indicator on how overconsumption, societal influences and cognitive biases can define a commercial phenomenon. It’s a brilliant case study on how cultural obsession can grow, and how quickly we can easily lose ourselves within consumer culture without even realising.
’s TikTok discusses the concept of self identity and how we’re mistaking consumption for a personality. There is a rapid turnover of trends and aesthetic signifiers that we are constantly exposed to. And we allow ourselves to become exposed to these trends through channels like TikTok and other forms of social media. The role of technology has become a pivotal key player in the success of most businesses and social media is often found in every marketers playbook. It’s a low stake method of reaching consumers and feeds into emotional triggers which can influence our buying behaviours.
So many factors can feed into our buying behaviours, but i’d like to hone down on just three: Societal influences, emotional triggers and cognitive biases. These to me, make up the perfect cocktail that underpins the desire to consume something in excess.
Societal influences and identity tokens
Social norms are constantly in flux and we find ourselves on the daily deciding what’s cool or not based on the content we consume. The concept of Social proof is commonly used in digital marketing as a way to dictate what is socially acceptable and when used in the context of social media, it often sets the standard of how we should live and behave. Take the ‘clean girl’ aesthetic, for example: characterised by slicked-back ponytails, minimalist wardrobes, and often paired with an iced matcha latte. This curated identity took over social media in 2022 and, arguably, played a role in matcha’s surge in popularity. It became a status signal and has permeated into businesses like blank street who capitalise on the aesthetic’s appeal by offering Instagrammable beverages that align perfectly with the lifestyle image consumers want to project. Japan is now facing a matcha shortage due to demand superseding harvesting capacity of matcha farms. Matcha was never meant to be gatekept but it was also not meant to be consumed this way.
Almost anything can become a status signal if we allow it to be. Josh Kaufman, author and educator, points out we subconsciously have thoughts of how we measure up against others. It’s human nature that we find ourselves seeking ways to elevate our status. A Rolex doesn’t tell time better than a Casio, but we’ve been conditioned to know this is a signal of wealth and influence. We tell ourselves that this person obviously has their sh*t together and has lot’s of money. It’s more than watch, it’s an identity token.
Retail therapy is a type of Hedonic compensation
We’ve all been guilty of purchasing something because we believed it would fulfil us (I’ve purchased a few Smiski blindboxes although no regrets thus far). We fall victim into buying things impulsively because it makes us feel good in the moment. But what we’re often left with is a transient dopamine hit, and in a financially worst off position than we started off with.
Retail therapy is a modern day problem where we overcompensate with material gains whenever we don’t feel so good. It doesn’t exactly resolve whatever problem we’re going through, but serves as instant gratification and reinforces compulsive buying behaviours. It’s distraction more than anything. In one study, researchers found that hedonic consumption — like watching entertaining videos — can act as a form of distraction from negative experiences, helping to regulate mood. (Moffitt et al., 2021) I find this is true when it comes to retail therapy. In my eyes, it’s also a form of hedonic compensation. I’m not here to advocate that it is entirely bad, in fact studies show it can actually reset your brain and improve self control afterwards. But we should be mindful on where it leaves us long term. Do we feel happier? Do we feel fulfilled with our new purchases?
Economics and Cognitive biases
Just as consumer psychology heavily influences our buying habits, economics plays a key role in driving overconsumption. People love scarcity and when something is limited, it feels more valuable. Think about that dress you wanted that suddenly sold out online. Doesn’t it feel even more desirable now that you can’t have it?
Scarcity also fuels the reseller market. This goes for things like Labubus and Matcha. When demand exceeds supply, we’re faced with sky high prices of what limited stock is available. Companies know this and will strategically control release timings to create a hype engine. The product stops being just a collectible, it starts operating like an asset. Things no longer become special, it’s just a commodity we’re all trading now.
Do you really want it?
What is it about something that makes you desire it? We often buy things because we believe it has some sort of transformative power on who we might become. FOMO isn’t a good enough reason to want something. In this hyperconnected world, its easy to forge an identity and create a false perception of who we truly are. So what kind of stories do our purchases tell us about ourselves? What purpose do they serve? Those are the questions worth asking before we open our wallet.
Everything we do and own shapes our identity. What we show to the world tells the viewer what kind of box we fit into. The process of figuring out who you are and what makes us happy is a personal journey but too often, we buy into things that don’t reflect our true selves, only a projection of the people around us.
Think back to your younger self without a phone, without the social media and without the relentless marketing. When was the last time you truly wanted something? Not because everyone around you had it but it actually meant something.
I often find myself moving flats every year and left with so many meaningless things that I curse myself on why I bought it in the first place. But I’m also someone who places sentiment on a ton of stuff, so i’m constantly walking the tight rope of chucking something away or keeping it. But I now try to remove that burden by being more intentional with my purchases and asking the tougher questions mentioned earlier.
Spend your money on experiences, not consumption
I can’t speak for everyone else but I personally don’t feel too fulfilled by my daily coffee or buying something that was trending on TikTok a few weeks ago. What makes me fulfilled are the experiences that gift me with stories that I can’t wait to tell my friends and family about or investing in things that hold great value and sentiment, things that will stand the test of time. Mothers pass down their engagement rings for a reason: that kind of significance can never be replaced. I believe these things hold far more weight than a fleeting trend.
Of course, I know that taste is something individuals can only discern by themselves and consumption is a pleasure seeking activity that we all do. But I’m learning there will be always be a new trend on the horizon that will incite consumption. We should gamble our money on things that matter, and not contribute to the stock price of items that add no value to our lives.
The heart wants what it wants, but I promise you don’t need another identity token or status signal to prove anything, or to feel cool.
Super interesting to think about how our consumption habits link to the idea of escapism… will be more mindful of that idea next time I am on a shopping spree!