China's "boom-era vibe" amid a deflationary reality
What macro data doesn't tell about China's consumer confidence
It's easy to read the headlines and assume a bleak mood in China. Youth unemployment remains stubbornly high. Consumer prices are flat or falling. The "lying flat" (躺平) mindset—where young people opt out of ambition—has moved from fringe to mainstream. In economic discourse, comparisons between China's post-00s and 2010s generation and Japan's "lost decade" are becoming increasingly common.
It naturally raises the question: what kind of subcultures and social values will take root among today's young Chinese in an economy that feels eerily similar to Japan's stagnation?
Since COVID, time seems to have passed almost without notice. Now in its third year post-lockdown, China often feels caught in the same repeating narrative. So the question is: are young Chinese really giving up?
The answer, surprisingly, may lie in something as simple as what they're wearing.
The "boom-era vibe"
A term has recently gone viral on Chinese social media: 经济上行风, or "boom-era vibe."
On the surface, it's a fashion trend. To Chinese netizens, the so-called "boom-era vibe" is a nostalgic revival of the early-2000s optimism, when dressing up boldly, not modestly, was a declaration of self-worth and ambition.
On Chinese social media, typical looks of a booming economy often feature high-saturation colors, bold makeup, heels to the office—these once-faded aesthetics are being reinterpreted by a new generation of young professionals.
On Douyin and Xiaohongshu, discussions about the “boom era”—mostly nostalgic reflections on the energetic vibe and fashion of China’s economic heyday—have surged since April this year.
In fact, this style has less to do with actual financial prosperity and more to do with projecting energy and upward momentum. It's about dressing not for the job you have, but for the life you want—even if your bank account isn't there yet.
Different from the more affluent consumers who are adopting the "quiet luxury" trend to stay low key, young professionals are embracing an aesthetic that says: I still believe in striving—even if it's hard.
As one post puts it: "Even if you're only making a few thousand yuan a month, dressing like it's a boom year helps remind yourself that you're still moving forward."
For many young Chinese in their 20s and 30s, the so-called "booming economy" style is more than just a look—it's a quiet psychological shift, a subtle pushback against the gloom of the "lying flat" era.
Many young people first heard the term "booming economy vibe" during casual conversations with older colleagues, who would mention how generous the benefits and how positive the work environment used to be when the company was at its peak. Even when the business underwent changes, there were no layoffs—employees were simply reassigned to different roles.
Xiao Ni, a 22-year-old newcomer to Shanghai, couldn't help but feel a sense of envy and longing when she first heard these stories. But she soon came to a realization: the essence of the "booming economy vibe" isn't material wealth, but a belief in upward momentum. "In any era, there are people who thrive and people who struggle. But those who succeed usually share one thing in common—they believe they'll eventually break through." [三联生活实验室; Life Weekly]
That belief—optimism in the face of uncertainty—has become a quiet form of resilience. For many, it shows up in small things: decorating a dining table with care, putting on a bright outfit, or simply treating daily life with more intention. It's not just nostalgia for a better economy, but a choice to live as if things can still get better.
The death of the It-Bag?
The shift is also changing what people carry—literally.
On the ground, luxury spending is cooling. Our in-store payment data from May shows that most luxury brands continued their downward trend—except for Hermès, which, although long seen as the more resilient one, grew by just 4%.
The pattern reflects a broader consumer mindset: a shift away from conspicuous consumption, and toward more intentional—or less performative—forms of self-expression.
From logos to canvas totes
One of the most unexpected winners of this shift? The humble canvas tote bag.