In China, young people are increasingly willing to spend money on seemingly “useless” and expensive items that bring them happiness or improve their mood, contrasting sharply with the overall retail industry downturn. This kind of “self-indulgent consumption” reflects their despair over the current political and economic prospects in China, suggesting that the Communist Party’s control of society will backfire.
A trend of downgrading consumption has emerged on the mainland, especially among young people. Discussions on social media about “why are the current young people so thrifty” have sparked widespread attention.
According to the “2023 Young People’s Savings Report,” data shows that over 40% of young people have a habit of keeping accounts, with more and more young people saving money through group purchases, discounts, and various forms of promotions.
On social platforms, many young people can be seen engaging in “retaliatory” saving, developing a new understanding of money: one shared meal equals a month of groceries; one cup of coffee equals a carton of milk; one movie ticket equals a box of eggs; ordering takeout equals a chicken; taking a taxi equals a month of public transportation.
Young people have not completely given up shopping, but now they “window-shop without buying,” only looking at “high-flying” clothes; they prefer to stroll through the basements of upscale malls where there are more affordable stores.
Affordable alternatives have become the new normal, with consumers becoming more cautious and selective, spending more time researching and comparing to find real bargains. This behavior is very common among young people and the middle to high-income groups.
Demand for luxury goods, jewelry, home electronics, and cars has noticeably decreased; swapping phone cases without changing phones is one example. In terms of dining habits, young people save money through tactics such as eating leftovers, dining at elderly-friendly restaurants, and using supermarket cafeterias.
A researcher at the Taiwan Cross-Strait Policy Association told Epoch Times that the consumption habits of young people also reflect the overall social development in China. With the current economic downturn in China, people are unable to see the future, resulting in a more conservative approach to consumption.
Despite young people becoming more frugal with everyday essentials and not giving in to brand premiums, they are still willing to spend generously on hobbies and emotional experiences such as travel and entertainment.
Recently, Beijing-based “Bubble Mart” announced in its business update that its third-quarter revenue is expected to increase by 120% to 125%, far exceeding market expectations. This leading Chinese blind box toy retailer is driven by the Z generation, born between 1996 and 2012, who are driving a trend of “emotional consumption” in contrast to the overall economic slowdown in mainland China.
They stated that buying blind box toys is a way of “paying for love” as the products inside are “adorable” and provide a “spiritual satisfaction.”
Items related to the subculture and “e-emotional balms” such as Lingna Belle, Sanrio, Butter Bear, Linear Puppy, Loopy, and Geyi Kawaii serve as emotional remedies for young people, all falling under the category of “self-indulgent consumption.”
Reflecting on this consumption trend among Chinese youth, a freelance writer expressed concerns, noting the dire situation wherein people are living purely in the moment due to lack of hope.
As China has lost its high-growth momentum economically, facing challenges such as high housing prices, low incomes, intense competition, a culture of overwork, and job insecurities, more young people feel that no matter how hard they work or study, their efforts are futile.
On social media, stories about overcrowded libraries where some spend time not studying but aimlessly passing the time due to unemployment have become common. Some individuals pretend to be working from home to save face for their families while actually overspending on credit cards for household expenses.
These individuals, possibly white-collar workers turned unemployed, show signs of feeling trapped in despair. The writer shared a personal story of a relative who has been jobless for nearly a year, struggling with financial support and constantly seeking comfort through video games, highlighting the frightening repercussions of such situations.
The “2022 China National Mental Health Development Report” revealed that young adults aged 18 to 34 experience higher levels of anxiety and depression compared to other age groups, mainly stemming from pressures related to work, family, finances, and health.
A study by Fudan University in 2022 indicated that over half of the 14 to 35-year-old respondents had issues with anxiety, nearly a third had risks of depression, and around one in ten faced high depression risks.
With people in mainland China deprived of political participation rights by the Communist Party, the economic outlook has become their sole focus, amid continuous encroachment and deprivation of private enterprises. Moreover, universal values of Western governance and human empathy are now considered means of capitalist infiltration and hence banned from discussion, leaving the society inundated with Marxist-Leninist ideology and patriotism, robbing people of a sense of purpose and direction, particularly the youth seeking meaning and value in life.
According to the “2023-2024 Psychological Health and Industry Insights Report,” the top three psychological issues the public wants to address are “anxiety,” “sense of meaninglessness,” and “depression,” marking the first time a sense of meaninglessness has ranked top three, reflecting the prevailing sense of disorientation in the Chinese society regarding life goals and values.
The researcher emphasized that youth represent a new form of productivity with dreams and expectations for the future before fully entering society. In more mature democratic countries, though young people may lack wealth, they have more room for creativity and often demonstrate care for public affairs or engage in politics. However, in China, political participation opportunities are scarce, leading to a lack of hope and political suppression, limiting their political aspirations.
The pressure from society affects consumption behavior, and if young people see no hope and society becomes more insular, focusing solely on political manipulation and ideology, they will seek short-term relief from mental burdens rather than pondering on improving their future lifestyle or quality of life.
The situations under Xi Jinping’s policies have exacerbated the current condition, and amidst low wages and high housing prices, young people, lacking hope, opt for momentary comfort through self-indulgent spending. The question arises whether this denotes an apocalyptic scenario, given the chaos in the world.
Under the Communist reign that promotes atheism, people dare to harm others since they have been wronged, leading to a vicious cycle of harm. Corruption thriving under officials has drained the nation, destroying the moral foundation inherited from past eras, especially during the Republican period, resulting in a fearful downfall under communist rule.
The researcher pointed out that self-indulgent consumption by Chinese youth may provide temporary mental satisfaction, but as time progresses, this satisfaction detracts, leading to greater dissatisfaction with societal conditions, which, if unchecked, may ultimately backlash against the ruling model.
He analyzed that when people lose faith in the market and economy, facing escalating social pressures and tightened political controls, the youth’s discontent towards the current political landscape will escalate. In China, where citizens are aware of the political red lines, unexpected events may still occur, such as attacks on foreigners, protests by medical and firefighting personnel over wage issues, etc.
He concluded that as the marginal utility of self-indulgent consumption diminishes over time, infuriation towards the ruling model intensifies, reflecting a societal backlash against the Communist regime.