Is ‘No Buy 2025’ catching on among Gen Z in China?

China’s luxury fashion market faces a new challenge as Gen Z consumers embrace anti-consumerist sentiments that originated on Western social media platforms. Dubbed “No Buy 2025” (不买2025), the anti-consumerist, money-saving pledge sees participants curb non-essential purchases, swearing off new clothes, shoes, accessories, home décor, and most notably fast-fashion hauls. While the movement has racked up over 26 million posts globally on TikTok under the “No Buy challenge” hashtag, with the earliest posts posted in 2023, in China, the trend has taken a slower, subtler hold. On Xiaohongshu, hashtags like “rational consumption” (#理性消费) has garnered 1.8 billion reads and “anti-consumerism” (#反消费主义) has 159.1 million, signaling a clear interest in frugality and slower fashion on the platform popular among Gen Z. The trend has the potential to resonate in a country where movements spurred by economic uncertainty, like “lying flat” (躺平) and “revenge saving,” have proliferated. But how established is the trend, and will it last? Jing Daily sits down with consumers in China to find out. Xinyao Qiu, fashion and beauty marketer (Shanghai) How big is ‘No buy 2025’? “This shift isn’t unique to China — globally, consumers across segments, including UHNWIs, are recalibrating spending. Rather than outright ‘no buy,’ I observe two key trends. First, one in, one out: The rise of resale, vintage, and auction markets (e.g., Chanel’s investments in this space) reflects this mindset. Secondly, a focus on true value and collectability. Brands must adapt to these economically driven shifts to stay relevant.” Are Chinese consumers spending less on luxury fashion? “While fashion category spending has softened, UHNWIs are redirecting budgets toward exclusive experiences (e.g., high-end travel, wellness, spiritual-related) and brands with deep emotional resonance, or long-term value narratives.” Greg Grigorian, Editor in Chief of Pop Mart Playground Magazine (Beijing) Have you seen young Chinese luxury consumers cut back? “There’s definitely been a surge in more conscious consumption in China within the past year or so, but I’m not sure if it’s related to ‘No Buy,’ or even capitalism. The biggest reason would be the slowing of the economy and the lack of confidence that local young people have in the future, which is definitely driving a lot of young Chinese to be more careful with their cash. ‘No Buy’ could be part of it, but it’s still a very minor trend in China. A more relevant local trend that a lot of young people on Xiaohongshu partake in would be the “long-term style mindset” (长期主义穿搭). It’s all about dressing in timeless styles that won’t go out of style in one season.” How is spending behavior changing? “More and more young people are interested in spending their money on travel, for example, rather than on a pricey bag. At the same time you also see more people willing to buy vintage and invest in pieces that will hold value. There’s a massive 3,000 sqm second-hand luxury store that opened in Beijing several months ago called Zhuanzhuan. They have a massive collection of luxury bags and what not. And it’s always very busy. You see all sorts of people there, even the types that would normally look down on second-hand items. There’s also more interest in local brands that offer cool designs at affordable prices.” Julie Sun, micro-influencer and marketing strategist (Shanghai) Do you see the anti-consumerist trend spreading in China? “Not really. This trend seems to only exist on TikTok and hasn’t really caught on that much on China’s social media. I haven’t seen anyone around me doing a formal ‘No Buy’ challenge. That said, I do notice that people have become more cautious with spending compared to a few years ago. Consumerism is definitely less dominant now, especially among young people.” Are Chinese consumers spending less on luxury fashion? “I’d say people are spending less, especially on luxury. Among my friends and from what I observe on the streets, it’s rare to see anyone shopping luxury the way they used to. Taobao designer brands are much more common now. Buying luxury feels a bit outdated, not that cool.” Michelle Zeqing Song, fashion content-creator (Beijing/London) Is anti-consumerism popular in China? “Many young Chinese consumers, especially those influenced by minimalist aesthetic and Buddhist mentality, are losing interest in luxury spending and becoming more conscious of overconsumption. However, there are still a lot of young consumers who prioritize brand purchases as a social status. I believe there is a small but growing segment of young Chinese luxury consumers engaging in this trend, though this is more out of necessity than trend-following. Many previous luxury consumers have turned their back to luxury goods to focus more on value-for-money purchases.” Are consumers reining in spending? “Most people are still purchasing, but from a more long-term mindset. For those of us who work in the fashion industry, some spending is necessary. But economic uncertainty has definitely pushed some toward reduced spending in order to maintain cash flow.” Adrian Wang, editor and creative agency founder (Shanghai) Are young luxury consumers doing ‘No Buy 2025’? “Yes, because of the economic crisis, some young consumers had already changed their consumption habits, especially when shopping online.” Have you or your friends changed how they shop for luxury fashion? “Me and my friends still buy some luxury clothes or bags, because in some specific social circumstances, it’s still needed. And for some luxury brands, with great brand power and strong style, such as Balenciaga, I’ll still shop when a new collection drops. But we do spend less on fashion than before, even though I get tired of dressing up for some social events, and would prefer to just choose comfortable and basic styling.”

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Is ‘No Buy 2025’ catching on among Gen Z in China?