名詞: n.
style and elegance on a tight budget
For recession chic to become a trend, however, the stigma of profligacy associated with shopping for clothing in an uncertain economy would have to be played down.
commodity chic; conspicuous austerity; growth recession
A related (although not as popular) term is frugal chic, which dates to 1991:
The economic downturn is inspiring a new frugality among consumers — a sort of frugal chic.—Denise Kalette, "Thrift-store shoppers find chic for cheap", USA Today, September 26, 1991