Social media is rapidly transforming the public’s consumption culture. Numerous posts on various social media platforms like YouTube, Instagram and TikTok are inundated with advertisements. The glamorous lifestyles and constant introduction of new products by influencers encourage excessive consumption and waste. However, a new movement that challenges this trend is emerging. That is “Underconsumption Core.” The underconsumption core is a trend focused on reducing consumption by purchasing only the items consumers need and maximizing the use of what they already have. Consumers who are fatigued by influencers, corporations and countless advertisements are driving the underconsumption trend, which goes beyond simple saving and actively opposes the culture of overspending.

  Underconsumption is being expressed in various ways. Passing down cups and plates, creating new fashion from existing clothes, fully using up beauty products and repurposing old boxes for storage are representative trends. Additionally, various campaigns and programs are being manifested. For example, “Worn Wear” program of Patagonia is a representative drive. Instead of buying new items, this program encourages consumers to use, repair or sell what consumers already own. This program includes various services and activities that make consumers use each product for a long time. Readers can explore some stories that preciously regard old clothes on the Patagonia webpage.

  Similarly, another new trend named Deinfluencing is appearing. Deinfluencing refers to actions that sincerely evaluate products to ensure that consumers purchase only what they truly need, in line with the underconsumption core. Also, this motivates consumers to reflect on their consumption habits. As a result, deinfluencing is getting attention for encouraging consumers to think carefully before purchasing and to critically assess rash promotions.

  Professor Goo Young-wan of the Dept. of Economics of CBNU explained the reasons of the emergence of underconsumption. “Inflation and living costs have led people to reduce spending on non-essential items and the rising popularity of budget-friendly products and services. The young generation, facing financial strain from high student loans, an unstable job market and high housing costs, is increasingly prioritizing savings over spending. Additionally, heightened awareness of environmental issues and ethical consumption are encouraging people to buy only what they need.”

  Prof. Goo pointed out that reduced consumption due to underconsumption can depress economic growth. Reduced consumer spending leads to a decline in sales, potentially increasing unemployment and causing overall economic depression. On the other hand, the 2008 financial crisis made many consumers increase their saving rates, leading to greater investments in stocks and bonds and it helped stabilize financial markets despite a decrease in overall economic activity. He added that focusing on savings rather than spending can lead to higher household saving rates and increased investments in financial markets. He said “While the short-term effects of reduced spending may outweigh the positives, the long-term benefits related to sustainability and savings could provide significant economic advantages.”

  Meanwhile, underconsumption puts emphasis on ethical values like environmental considerations, and aims for public interest over private interest. Noting this, Prof. Goo said that companies need to strategize towards more affordable and eco-friendly products, like how brands such as ZARA introduced more sustainable lines to attract cost-conscious consumers. He emphasized that if the underconsumption core leads to an increase in consumers’ preference about brands which pursue sustainable products like Patagonia and Stella McCartney, this trend can push other companies to follow suit and adopt more sustainable practices.

  However, Prof. Goo predicted that the current trend may not last long for several reasons. First, when the economy is improved or grown, especially during an economic boom, people often tend to spend more on luxury items and high-end brands. Second, new technologies or fashion trends often lure consumers into new trends. Third, new social movements or cultural changes might weaken or replace today’s underconsumption core. Because these trends are influenced by various external factors, he predicted that this underconsumption core may not last in the long run.

  In fact, while no one knows how long the underconsumption core will last, it is clear that the trend’s pursuit of sustainable consumption is a practice of ethical consumption that regards the environment as important. Opening some drawers before purchasing a new item can make a great change.