This is how China’s Gen Z masters radical “revenge saving”

A new trend has established itself on social media: with so-called “revenge saving,” young Chinese save as much money as possible and share it on the Internet.

It is often said that the young Generation Z (born between 1996 and 2010) are very materialistic and extremely keen to consume. Nevertheless, at least the money management report from the payment service provider resulted Klarna, that young people in Germany would save or invest the most: “While among baby boomers (66 percent) and Gen

Trendy savings tips from TikTok, Instagram and Co.

The Internet and especially social media regularly reveal new trends. However, these are not limited exclusively to light lifestyle topics such as clothes, hairstyles and recipe variations, but also regularly cover more useful content such as health tips or dealing with finances.

So let up TikTok, Instagram and Co. have recently observed the “Girl Math” phenomenon, in which young women in particular calculate their expenses. However, the current trend is not about romanticizing increased consumer behavior, but rather about radical savings.

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From “revenge spending” to “revenge saving”

“Revenge spending,” also known as “revenge purchasing,” describes the urge consumers feel to spend money to “make up for” lost time in which little to no money was spent. This phenomenon became very clear, among other things, after the pandemic. But in China, young adults are embracing the opposite trend – saving for revenge. This may be done as revenge against the stagnating economy, which is now being further weakened by the population’s declining consumer behavior.

Savings trend from China: Now “Revenge Saving” is taking over social media

The so-called “revenge saving” describes the current trend from China as a reaction to the current economic situation. This is a new, extremely strong mentality among young people towards their own expenses. The reason for the fundamental rethink is the weak or stagnating local economic situation. In addition, the People’s Republic has loud N-tv.de struggling with a real estate crisis and exceptionally high youth unemployment.

“They can’t find a job and can’t increase their income.” “They have no choice but to spend less,” confirmed Jia Miao from New York University in Shanghai in an interview with CNBC. Extraordinary methods and extreme savings goals would be shared on social media.