August 29, 2024
WJAR recently interviewed Greg Stoller, Master Lecturer of Strategy and Innovation, to discuss the “underconsumption core” trend taking over social media.
The viral TikTok trend showcases how Gen Z is navigating financial challenges such as renting and home ownership by scaling back their spending to save money. Additionally, the concept of underconsumption emphasizes environmental benefits by buying fewer products, which helps reduce waste.
“Listen, the economy is tough, interest rates are high – if you look at the data, rent has soared between 1999 and 2022 by 135% but incomes have only increased approximately half of that,” Stoller adds.
If done correctly, this approach could help younger generations manage their finances better in the long run.
