Why the underconsumption trend won't have much shelf life in Singapore

The internet buzzword is up against an ingrained shopping culture, not to mention kiasu-ism and the buy-buy-buy in our DNA.

- Larissa Santhana Nair

Among the hottest buzzwords across social media platforms is "underconsumption core." This is where people have started to accept it is okay to stop overbuying and, instead, make the most of what they already have and buy only what they need.

Young people across the globe are starting to understand that the consumption level of celebrities and influencers is out of touch with the reality of most people on an average wage.

In Singapore, we have seen young Singaporeans embrace this lifestyle. It also reflects their need to cut back on expenses amid the rising cost of living.

However, this awakening is up against deeply ingrained cultural forces. Singapore's consumer landscape is designed to fuel overconsumption, and the only way to change this is to fundamentally change our attitudes towards consumption and the idea of consumerism.

Which begs the question: Will underconsumption be a lasting practice in Singapore, or just a fleeting behavioral micro-trend?

PART OF THE SINGAPOREAN IDENTITY How many of us have done this: Joined a queue snaking around the mall to get a new edition of a really popular bag? Or rushed to get the latest shoe drop? How about buying figurine blind boxes - which are sealed so you don't know the specific design from a series you are getting - every week, including the plushies in the recent "Labubu" craze made popular by K-pop girl group

Blackpink's Lisa?

This behavior is inherently an expansion of Singapore's much-vaunted kiasu culture - the fear of missing out.

In a way, while it plays a role in our identity, this kiasu-ness encourages us to keep up with others, by consuming. Our mindless consumption arises because the anxiety of not being subscribed to the next big thing reduces our perceived social attractiveness. By this, I mean we are not joining the popular group, which in Asian society can mark us as outsiders.