2025年，普通人最直观的感受不是科技飞跃，而是钱包越来越瘪。央行M2突破304.8万亿的数字背后，是工资涨不动、开销飙升的生存现实。缺钱，正在从 个别困境演变为全民状态。以下5个变化，或许你已深有体会。 二手手机、家电、家具、奢侈品甚至临期商品，正在成为新宠。半价体验同款功能、平台交易透明安全、买卖双方选择增多，二手从"过渡品"升级为生活方 式。95后群体中，60%曾购买二手商品，30%定期出售闲置物品。二手市场的火爆，本质是消费者对"性价比"的极致追求：花最少的钱，满足最多需求。 这些变化看似是消费降级，实则是生活逻辑的重构。我们越来越像父母那一代：能省则省、能修则修、不盲目追新。但这不是倒退，而是在高成本环境中重 新定义"钱"的价值——不依赖消费获得幸福感，而是追求实用与安心。 真正危险的不是缺钱，而是活在消费主义的幻觉里：用贵价商品包装自己，用透支未来满足当下。缺钱时代，是提醒我们放下虚荣，回归理性。 线下商场沦为"拍照打卡地"，真正下单的主战场转移到电商平台、直播间和社区团购。一件外套线上比线下便宜200元，理发、修车甚至买菜都能通过APP 找到低价选项。消费者不再为"便捷"买单，而是为"省钱"精打 ...

Core Viewpoint - The article highlights a paradox in China as of October 2025, where despite a significant increase in the money supply (M2) by 8.2% year-on-year, there is a widespread perception of a "money shortage era" affecting consumers, businesses, and the government [2]. Group 1: Changes in Consumer Behavior - Change 1: High-end cigarette brands are experiencing poor sales, while low-cost cigarettes are gaining popularity due to reduced disposable income and fewer social occasions [4][5]. - Change 2: Shopping malls are seeing decreased foot traffic as consumers prefer online shopping for its affordability and convenience, with significant price differences noted between physical and online stores [7]. - Change 3: Consumers are becoming more price-sensitive when purchasing groceries, favoring low-cost vegetables and buying only what they need for immediate consumption [10]. - Change 4: There is a shift towards maintaining existing electronics and vehicles, with consumers opting to repair rather than replace items unless they are broken [12]. - Change 5: The second-hand market is thriving as consumers are increasingly willing to purchase used goods, attracted by significantly lower prices compared to new items [15]. Group 2: Economic Implications - The observed changes indicate a growing rationality among consumers, reflecting a slowdown in income growth and a cautious outlook on future earnings [15]. - The urgent need for increasing household income and creating more job opportunities is emphasized as a way to restore consumer confidence and improve economic conditions [15].

Core Insights - A pervasive sense of "money tightness" is emerging across various sectors of society, indicating a potential entry into an era characterized as the "money shortage era" by 2025 [1] Group 1: Consumption Trends - The consumption market is exhibiting a pronounced "K-shaped" structure, with one end seeing growth in budget-friendly options and the other maintaining stability in luxury goods and high-end experiences [3][5] - The middle tier of consumption, including affordable luxury brands and mid-range dining, is rapidly collapsing as consumers prioritize either essential goods or premium experiences [5] Group 2: Savings Behavior - A shift towards "defensive finance" is evident, with rising household savings rates despite lower interest rates, driven by uncertainty about future income [7] - The trend of "revenge spending" has transitioned to "revenge saving," reflecting a collective mindset focused on building financial security [7] Group 3: Cash Flow and Financial Security - Many individuals are becoming "invisible poor," where fixed expenses consume most of their income, leaving little for discretionary spending [8] - The importance of cash flow is heightened, with individuals becoming more cautious about non-essential expenditures due to the risk of unexpected financial burdens [8] Group 4: Asset Valuation and Investment - Traditional wealth creation avenues, such as real estate and stock markets, are losing effectiveness, with the real estate market facing long-term adjustments and liquidity issues [9][11] - The volatility in capital markets is making it increasingly difficult for ordinary individuals to achieve rapid wealth growth through investments, leading to a more conservative investment approach [11] Group 5: Employment and Income Diversification - The perception that having a single income source is risky is becoming widespread, prompting many to seek additional income streams through side jobs or freelance work [12] - The need for a "second income curve" is now a necessity for many, as job security diminishes across various sectors [12] Conclusion - The onset of the "money shortage era" is a result of global economic cycles, domestic structural adjustments, and individual financial choices, signaling a departure from previous wealth accumulation strategies [15] - Companies and individuals are encouraged to adapt by reshaping consumption habits, building financial cushions, managing debt prudently, and investing in personal skills to enhance competitiveness [13][14][15]

Core Insights - The article discusses the emergence of a "money shortage era" in China, characterized by a significant increase in money supply alongside a lack of liquidity among businesses, government, and consumers [1][3]. Economic Indicators - As of July 2025, China's broad money supply (M2) reached 329.94 trillion yuan, reflecting an 8.8% year-on-year growth, which is double the GDP [1]. - Despite the increase in M2, there is a prevailing sentiment of insufficient funds across various sectors, indicating a disconnect between money supply and actual economic activity [3]. Consumer Behavior Changes - There is a notable shift in consumer preferences towards cheaper cigarettes, with low-priced options becoming popular while high-end brands see declining sales due to reduced disposable income [5]. - Foot traffic in shopping malls has decreased significantly, leading to many physical stores struggling to survive, while online shopping is preferred for its cost-effectiveness and convenience [7]. - Consumers are increasingly opting for low-priced vegetables, with high-priced options seeing reduced demand as income growth stagnates [9]. - The trend of replacing household appliances has slowed, with consumers choosing to keep appliances until they break, prompting retailers to engage in price wars to stimulate demand [11]. - The second-hand market is gaining traction, with consumers purchasing used goods across various categories, including electronics and vehicles, as a cost-saving measure [13].

Core Insights - The article highlights a significant shift in consumer behavior due to economic pressures, leading to a focus on practicality and value rather than luxury and brand prestige [1][4][6] Group 1: Changes in Consumer Behavior - The cigarette market has experienced a major shift, with consumers moving from premium brands to more affordable options like Hongta Mountain and Baisha, reflecting a change in social and economic conditions [1][4] - There is a noticeable decline in foot traffic in physical stores, as consumers prefer online shopping for its lower prices and convenience, indicating a shift in shopping habits [4][6] - The demand for basic, affordable food items has surged, with consumers prioritizing quantity and value over premium organic products, showcasing a shift towards practicality in food choices [6] Group 2: Attitudes Towards Spending - Consumers are now more focused on the longevity and value of products, leading to extended replacement cycles for durable goods such as electronics and appliances, as they opt to use items until they are no longer functional [6][9] - The second-hand market has gained popularity, with consumers actively seeking out used goods across various categories, including luxury items, indicating a shift towards frugality and resourcefulness [9] - The overall consumer mindset has transitioned from impulsive buying to a more calculated approach, where the value of each purchase is critically assessed, reflecting a broader economic reality [9]