Consumer financial behavior, digital payments, and financial debt during ritualized consumption

Ritualized consumption combines emotional engagement, digital purchasing, and financial debt, yet these dynamics remain underexplored in crisis-affected economies. This study examines how Christmas shopping routines, gift-selection practices, and online payment methods are associated with Christmas spirit and Christmas debt among Lebanese consumers. The framework integrates Ritual Theory, Gift-Giving and Social Exchange theories, Normative Social Influence Theory, Hedonic Consumption Theory, and Self-Control Theory. Online survey data from a sample of 284 Lebanese consumers were analyzed using Partial Least Squares Structural Equation Modeling. Christmas shopping routines showed the strongest association with Christmas spirit (β = 0.472, p < 0.001), while shopping routines and Christmas spirit showed the strongest associations with Christmas debt (both β = 0.380, p < 0.001). Christmas spirit significantly mediated the associations between all three antecedents and Christmas debt, supporting partial mediation. The findings indicate that ritualized, relational, and technologically enabled consumption practices are associated with both positive festive engagement and greater Christmas-related financial obligations. The study contributes to consumer behavior, consumer finance, and digital consumption research by integrating cultural, emotional, technological, and financial perspectives. It offers implications for retailers, policymakers, and digital payment providers seeking to promote responsible spending and financial transparency during high-consumption periods.