Economy The truth about shopping -- here is the twist in the tale Updated : June 26, 2019 08:19 PM IST Increased consumer spending is hailed as good news for the economy as it fuels business activity, job and wealth creation. Research across cultures suggests that highly materialistic people tend to have lower self-esteem and life satisfaction. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.