CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 51)

22 Jan 2024

The concept of consumer downgrading – In recent years, a new consumer concept, known as “consumer downgrading,” has gradually become a focal point of attention. It involves reducing efficiency, experiences, individuality, taste, and attitude to achieve the highest degree of cost-effectiveness. We believe there are several main reasons for this: population aging, declining economic growth, shrinking wealth particularly due to deteriorating property environment, and the difficult employment situation for the most willing consumers, the younger generation.