China’s ‘Lie-Flat’ Youth Start a New Trend Underground
Fresh off refusing to work as hard as their parents, Gen-Z rejects their European-luxury shopping aspirations, too, and fuels a B1B2 economy.
The real action is in the basement.
Photographer: Qilai Shen/BloombergYoung people in China have become trendsetters. First, they rejected society’s overwork and over-achieving culture with a “lie-flat” movement that has resonated in the US. Second, faced with a dismal labor market — more than one in five are jobless, according to official statistics — tens of millions choose to take a gap year or two, and proudly label themselves “professional children.”
The latest trend? They’ve been embracing the so-called “B1B2 economy,” (think elevator buttons), dining and shopping on the more budget-oriented basement floors of China’s many swanky malls. It’s a seismic cultural change that commercial real estate developers and global luxury brands in higher-level shops must confront.