China’s economic troubles give rise to the Gen Z ‘Stingy Economy’ ...Middle East

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China’s economic troubles give rise to the Gen Z ‘Stingy Economy’
Amid a backdrop of soaring living costs and stagnant wages, China’s youth are embracing thrift in a manner that’s reshaping the nation’s consumer landscape. This year has seen the arrival of China’s “Stingy Economy”  (抠门经济). The term is fast becoming synonymous with Gen Z spending behavior. Driven primarily by economic necessity, this thrift-centric economy is giving birth to a myriad of novel consumption patterns. This behavioral shift by young people has sparked a wave of new ventures in food, clothing, housing, and transportation and even “resurrected” many businesses that were previously unpopular. Community canteens On Weibo, Chinese netizens on Weibo have noted the reverse consumption

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