"This Is the Global Trend Now"...My Friend Who Boasted About Ragged Shoes Was Strange [Youth Report]

Increase in 'Low-Consumption Core' Posts on TikTok
'Yono' Trend Rapidly Rising in Korea
Consumers Stop Unnecessary Spending

Amid ongoing concerns about a recession in the United States, a 'low consumption' trend is emerging, centered around the Gen Z (born mid-1990s to early 2010s) generation. While the so-called 'flex' culture, characterized by excessive spending to flaunt one's wealth, was once popular, an increasing number of young people now find style in practicing restraint in consumption. As a result, the trend called 'Underconsumption Core' is rapidly gaining traction on social networking services (SNS).

Showing Off Shoes Worn for 10 Years... Surge in 'Underconsumption Core' Posts

If you search for 'Underconsumption Core' on TikTok, you will find various posts. [Image source=TikTok]

Recently, on the video-sharing platform TikTok, posts related to the 'Underconsumption Core' have been appearing one after another. These users advocate frugality and minimalism, posting images of old furniture, vintage clothing, and more. In particular, some have uploaded videos showing themselves using broken plates, worn-out clothes, shoes with worn soles, and cracked eyeshadow as they are.

Regarding this phenomenon, the New York Post stated, "'Underconsumption Core' is a trend where people take pride in their low spending," adding that it can be seen as a product of inflation. The media also analyzed that consumers, tired of influencers and companies constantly advertising new products and encouraging overspending, have begun to stop unnecessary consumption.

TikToker Alice Chae posted a video on the theme of 'Underconsumption Core,' showing shoes she has worn for 10 years since high school, a bag used for four years, and a used plastic container repurposed as a water bottle. The video surpassed 1.4 million views and received over 1,250 comments. When one netizen said, "You can buy a new water bottle and shoes," Alice Chae replied, "I don't think that's necessary."

More Than Half of Americans Say "US Economy Is Already in Recession"

TikToker Alice Chae's sneakers worn for 10 years.
[Image source=TikTok]

The low consumption trend appears to be closely related to the US economic recession. In fact, three out of five Americans believe that the US economy is already in a recession.

On the 12th (local time), US CNBC cited a survey by electronic payment company Affirm, reporting that 59% of respondents judged the US economy to be currently in a recession. The main reasons cited for this belief were inflation and rising living costs (68%). They believed the recession began in March last year and would continue until July next year.

However, considering that the US growth rate (annualized quarter-on-quarter) was 1.4% in Q1 and 2.8% (preliminary) in Q2, the economic situation up to Q2 is far from entering a technical recession. Nevertheless, many ordinary Americans seem to feel that the US economy has already entered a recession due to high prices and living cost burdens. Consequently, the number of young people trying to save money has increased.

Rise of 'YONO Tribe' Pursuing Rational Consumption in Korea

Citizens are shopping at the market.

This phenomenon is not limited to the United States. In South Korea as well, as consumption patterns of the 20s and 30s generation change, the 'YONO (You Only Need One) tribe' is increasing. 'YONO' refers to consumers who do not indulge in luxury but pursue practical consumption suited to their economic situation. In the past, the 'YOLO (You Only Live Once) tribe,' which sought happiness in the present rather than investing in an uncertain future, was dominant, but consumption trends have shifted.

The YONO tribe tends to prefer the lowest-priced products over premium ones and makes efforts for rational consumption by purchasing bulk products like large cuts of meat or items nearing their expiration date. As inflation prolongs and employment rates decline, with financial situations not improving, they have started to reduce consumption. This influence also led to the popularity of extreme saving behaviors among young people last year, such as 'geojibang' (beggar room), cash challenges, and no-spending challenges.

Foreign media have reported that the practical consumption of the YONO tribe to overcome the recession has become a global trend. CNN, in an article titled "YOLO is dying. This could be bad news for the economy" published in June, stated, "The lavish consumption party after COVID-19 is over." The media noted, "Consumer spending is decreasing, and even high-income Americans are turning to discount stores like Walmart," adding, "Some stores are lowering prices to attract hesitant shoppers."