In the contemporary urban landscape of cities, an economic and social phenomenon emerges that raises profound questions:
Massive shopping complexes, innovative projects like padel courts, specialty cafes, and food trucks that were once vibrant and bustling have suddenly and mysteriously turned into abandoned spaces.

This sudden transformation is not due to traditional reasons such as poor geographic location or financial crises, but rather embodies a modern economic pattern driven by radical shifts in consumer behavior.
Through this article, we will dissect this phenomenon in a manner that combines depth, rigor, and analytical precision, aiming to understand the behavioral and operational mechanisms that drive retail markets today.

From Solid Consumption to "Liquid Consumption"

To understand why this "silent mass migration" from projects is occurring, one must first grasp the concept coined by researchers Bardhi and Eckhardt:
Liquid Consumption.

In recent decades, the economy relied on "solid consumption" based on stability, extended brand loyalty, and attachment to the material values of products. Today, however, the modern consumer shies away from long-term commitments, viewing them as burdens that limit their options.

Definition of Liquid Consumption:
It is a consumption pattern characterized by flexibility and rapid mobility, where the consumer seeks temporary and discrete experiences, leaving the project as soon as the element of "first surprise" fades.

Product Life Cycle in the "Dopamine Economy"

Liquid consumption is closely linked to the neural mechanisms of consumer behavior, specifically the hormone dopamine responsible for feelings of reward and stimulation.

Modern projects are characterized by their market value being entirely concentrated in the "first discovery moment".
Once the mind becomes accustomed to the place and the experience is repeated, dopamine secretion sharply declines, causing the project to lose its appeal in the eyes of the consumer, who then begins to search for the next "high."

The "Wanghong" Model and Instagram Requirements

This behavior extends to what is known in China as the Wanghong economy, where projects are specifically designed to be Instagrammable. In this model:

  • The product (like a cup of coffee) loses its utility value as soon as the picture is taken and shared on social media.
  • The consumer shifts from being a "buyer of the product" to a "content creator" seeking to document their presence in the place as a symbol of social status.

Investment Perspective

In light of this changing psychology, a new generation of entrepreneurs and economic advisors (the operational policy makers behind the screens) has emerged, changing the rules of the investment game.

The goal is no longer to build a brand that lasts for decades; instead, investment is based on a strategy of pre-designed liquidation.
These investors recognize that the lifespan of a project will not exceed one year (due to the temporary collective dopamine rush), so they rely on the following:

  1. Reducing Capital Expenditures (CapEx):
    Designing with inexpensive materials that still look appealing on camera.
  2. Rapid Capital Recovery:
    Intensifying marketing in the initial months to achieve the highest possible returns.
  3. Flexible Closure:
    Once the innovative and commercial curve begins to decline, the Final Cut decision is activated; the project is completely closed, and capital is reallocated to a new idea that aligns with the next "high."

Economic Implications on the Macro Market

Although this pattern may seem profitable for some savvy investors in the short term, it has concerning structural implications for the macro economy:

Structural Consequences of Liquid Consumption on the Market

Economic Axis Nature of Impact and Challenges
Fate of Small Investors New entrepreneurs fall into the trap of "riding the wave" at its peak, entering the market with high costs and financing loans, only to be surprised by the withdrawal of liquidity and consumer migration immediately after opening, leading to significant financial losses.
Stability of the Labor Market This model relies on short and seasonal employment cycles, creating a state of job instability (High Employee Turnover) and continuous layoffs, negatively affecting the growth of the services and retail sector.
Sustainability of Real Estate Assets This pattern leads to operational volatility in commercial properties and complexes; shopping centers face the risk of sudden tenant exits, turning billion-dollar real estate assets into abandoned spaces that do not generate sustainable returns.

Understanding economic cognitive tools allows us to read beyond simple daily phenomena. What we see as a "trend" or "wave" in our streets and complexes is, in fact, a complex economic equation where human psychology intertwines with the dynamics of capital flow.

As leaders, investors, and professionals of the future, the real challenge lies in how to innovate outside the realm of the "temporary dopamine economy."
Building a sustainable and robust economy requires directing ideas and investments towards projects that create real added value and meet actual and ongoing community needs, rather than relying on short life cycles that end quickly.