Core Insights - The article highlights a significant shift in consumer behavior among the younger generation, particularly those born after 1995, who prioritize practicality and cost-effectiveness over brand prestige and luxury items [1][3][19] Group 1: Changing Consumer Preferences - The younger generation is increasingly adopting a mindset of "reverse consumption," focusing on essential spending and avoiding unnecessary expenses, which is reflected in their "six abstentions" lifestyle [3][7] - There is a notable decline in the sales of luxury brands, with Gucci's sales dropping by 51% and LV's overall revenue decreasing by 2% [5] - Domestic brands like Hongxing Erke and Anta are gaining popularity due to their affordability and practicality, surpassing international brands in sales and viewership [5][17] Group 2: Economic Context - The economic conditions faced by the current generation differ significantly from those experienced by previous generations, with many young people earning around 5,000 yuan monthly, leading to a focus on reducing non-essential spending [9][12] - The article references the Kondratiev wave theory, indicating that the current economic climate is in a downturn phase, impacting young people's financial stability and spending habits [10][12] Group 3: Societal Implications - The trend of reduced spending is contributing to lower marriage and birth rates, with marriage registrations dropping by 20.5% year-on-year, indicating a shift in societal norms and priorities [15] - The emphasis on sustainability and practicality is leading to a rise in interest in shared, rental, and second-hand markets, as well as eco-friendly products [17][19] - While the immediate economic impact of this shift may appear negative, it is seen as a step towards a more sustainable and responsible consumption model, promoting environmental awareness [19]

Core Points - The independent investigation team in South Korea has seized luxury items provided to Kim Keon-hee, the wife of former President Yoon Suk-yeol, as part of a corruption probe [1][3] - The seized items include a Graff necklace valued at 62.2 million KRW (approximately 310,000 RMB), a pair of Chanel shoes, and three Chanel bags [3] Group 1 - The independent investigation team confirmed the seizure of high-priced items from the Unification Church intended to gain improper benefits for Kim Keon-hee [1][3] - The investigation team has verified the serial numbers of the seized items, ensuring they match relevant leads, and plans to clarify the delivery, return, and custody of these items in future court proceedings [3] - Previously, the investigation team had difficulty obtaining conclusive evidence that Kim Keon-hee had actually received the items, despite tracking their whereabouts since the early stages of the investigation [3] Group 2 - The lawyer for the key figure in the case, Jeon Seung-bae, recently provided new evidence during court proceedings, contradicting earlier claims that the items were lost [3] - In a submitted opinion to the court, Jeon Seung-bae explicitly stated that the ultimate owner of the high-priced items from the Unification Church is Kim Keon-hee [3]

Core Viewpoint - The concept of "new consumption" is not merely defined by rapid growth but involves deeper underlying logic, including industry penetration rates and brand influence [1][3][4] Group 1: Indicators of New Consumption - New consumption has three objective indicators: industry penetration rate, Baidu search index, and a growth rate of at least 25% [3] - Subjective factors include tradability, which refers to the ability of stocks to be traded or second-hand products to be exchanged, and the ease of creating memes that facilitate brand spread [3][10] Group 2: Causes of New Consumption - The formation of new consumption habits and the breaking of new brands are the main causes of new consumption [4] - Examples of new consumption habits include collectible toys, pet food, and new tea drinks, while brands like Pop Mart and Xiaomi exemplify the breaking of new brands [4] Group 3: Characteristics of New Consumption - A key characteristic of new consumption is "word of mouth," where users become brand advocates rather than relying on traditional advertising [6][9] - The pet industry serves as a prime example of new consumption, showcasing strong user-driven brand recommendations [8] Group 4: Brand Development Stages - Brand development consists of four stages: initial recognition, preference, category association, and identity representation [15] - The emergence of a secondary market for products indicates a brand's ability to maintain or increase value over time, signifying strong market presence [17]