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![AQPulse Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1933886283195240448.png) AQPulse [@AQPulse](/creator/twitter/AQPulse) on x XXX followers
Created: 2025-07-19 13:03:04 UTC

Consumer impact: It's not just property.
Chinese consumers are pulling back - hard.
While some luxury bags have reportedly sold at 70–90% off, those are edge cases.
But the underlying signal is clear: discretionary demand is collapsing.
📊 Here's the macro view:

Consumer Price Index (CPI): –0.1% YoY
Producer Price Index (PPI): –3.3% YoY
Both negative — and both stuck there
This is a deflationary feedback loop:
1.🔻 Households spend less
2.🔻 Companies cut prices
3.🔻 Margins fall
4.🔻 Jobs at risk
🔁 Back to step X

Even if headline retail data looks stable, the price behavior tells a different story:
Discounting is rampant in both domestic and global-facing brands
Price wars have broken out in online platforms
Consumer confidence remains fragile amid falling home values
This is compression, not expansion.

![](https://pbs.twimg.com/media/GwON-rpa8AAuIaq.jpg)

XX engagements

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**Related Topics**
[ppi](/topic/ppi)
[luxury](/topic/luxury)
[inflation](/topic/inflation)

[Post Link](https://x.com/AQPulse/status/1946556396465713354)