Why are people reluctant to consume now?

Mondo Social Updated on 2024-01-29

Why are people reluctant to consume now?

First of all, the current economic situation is not optimistic. Factors such as slowing economic growth, increasing employment pressure, and sluggish wage growth have led to unstable or even reduced incomes for many people.

Faced with an uncertain economic future, many people choose to manage their finances conservatively and prudently, or even austere their spending. They prefer to spend their limited financial resources on daily necessities, while being cautious about luxury goods or consumer pleasures.

Yes, now I don't buy other unnecessary things except for groceries and cooking, buying some necessary nuts and fruits every day, as long as I have enough clothes to wear, and there is no need to spend in advance.

Especially after three years of the epidemic, everyone's thinking has changed, a healthy body is the most important, and everything else is floating clouds.

Secondly, there are certain differences in the distribution of income in society, which leads to a change in the mentality of society. The gap between the rich and the poor widened, with the rich getting richer and the poor getting poorer, triggering uneasiness.

Many people feel the pressure of work and life, lose confidence and hope for the future, and many people choose to live a Buddhist life. As a result, they often cut back on consumption in response to possible uncertainties and dilemmas.

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