Part 3/8:
As a netizen explored the eerily vacant streets of Shanghai, their friend pointed out the drastic change in consumer behavior. The vibrant scene filled with late-night snack shops and lively eateries has dimmed, with many establishments closing for good. High-end dining venues, once symbols of prosperity, have also shuttered. According to the China Hotel Association, the closures of high-end restaurants reached a staggering 28% in 2024—twice that of the previous year. As the economy falters, even luxury items, like imported beers, can’t find buyers.