So what does revenge spending mean?

And why did it start trending?

In Chinese, using "revenge" before a verb is quite common.

For example, revenge dating means going on a Tinder spree after you've been dumped.

Revenge eating is what happens after you come off a diet and you end up binge eating everything in front of you.

So you might be able to guess what revenge spending is.

In this context, the revenge is not literal.

You're not necessarily getting back at someone or something per se.

Rather, it's irrational overcompensation for something.

So back to revenge spending.

The phrase actually dates back to the 1980s, when there was a surge in spending after China's economy opened up.

It was a reaction to years of abject poverty and economic paralysis.

Finally, people had money to spend and demand for luxury goods spiked.

This year, revenge spending is resurfacing in another context:

The coronavirus.

It's specifically referring to post-quarantine shopping sprees.

After a lockdown, China started reopening its economy in March.

The belief was that shoppers would come out of quarantine and overcompensate for months of boredom by making more purchases than normal, with or without rationality.

Like these guys.

"Revenge spending" already started trending in February, when China was in the middle of its coronavirus battle, and peaked on March 5th, when the economy started reopening.

When lockdown restrictions in China were eased in early April, long lines could be seen at popular tourist destinations.

Government started giving away vouchers to encourage spending, and this Hermes shop in Guangzhou made 2.7 million in sales when it reopened on April 11th.

Tatler reported this to be the highest revenue made in a single day for a boutique in China.

So are most people revenge spending?

We went to the streets of Shanghai to find out.

So while revenge spending might be trending online, in real life, the response is mixed.

According to one survey conducted by a Chinese consulting company, most people would rather make and save money than spend.

Most people simply can't afford to spend.

These households said that their income would shrink in 2020.

So while "revenge spending" is a buzzword on the Chinese Internet, it seems like it's just a trend for the people who can afford it.