Young Consumers Cut Big-Ticket Spending, Pressuring Auto Sales

Recently, the "lipstick effect" has drawn public attention. Data shows that while some consumers are cutting back on major expenditures, they continue to purchase relatively inexpensive non-essential items, such as lipsticks priced at several hundred yuan or milk tea costing dozens of yuan. Meanwhile, demand for big-ticket consumer goods—items requiring years of income to afford—has declined significantly, with automobile purchases showing a particularly sharp drop.