Spaving is amarketing strategy where consumers are encouraged to spend money to gain access to savings. Common spaving tactics include discounts, sales, and promotions such as free shipping at a certain threshold andbuy one, get one free.[1] The term is aportmanteau of the wordsspending andsaving.[2] The concept has been popularized byonline retailers andsocial media.[3]
Spaving has been criticized as a financial pitfall causing consumers to purchase more than needed and creating excessive buying habits.[4][5][1]
Consumers engage in spaving due tofear of missing out andloss aversion.[6] Consumers who excessively engage in spaving are referred to as spavers.[7]
