In the turbulent economic environment, money is losing its value. Consumers are reevaluating their spending across sectors. With a looming crisis of trust in financial institutions, how are people managing their budgets? And how can brands navigate the complex relationship between value and cost?

Nursing homes all over China have been transformed into low-cost hostels, attracting the nation’s young and burnt-out working class. More Gen Zers and Yers are shifting their life goalposts to align with their values, driving them to find respite in the pastoral away from the urban grind.

Luxury consumption is slowing down in China as middle-class shoppers curb their spending and wealthier consumers turn away from flaunting their purchases. In this context, many brands are divided between maintaining exclusivity and broadening their appeal to attract new demographics.

Luxury spending in China is on a post-pandemic rebound, but shoppers may not be where you think. Instead of travelling overseas, citizens are choosing to fly domestically. What does this mean for the future of luxury shopping in the country, and what can brands learn from this post-pandemic shift?