Meaning:

Literally this term means to “collect wool from the sheep.” Originating from a stand-up comedy staged at the Spring Festival gala in 1999, the term first appeared in its literal meaning where actress Song Dandan in the role of granny Baiyun recalled collecting wool from a sheep owned by the people’s commune to make a sweater for her husband. Therefore, the term began to mean “taking advantage of.” Nowadays, it’s most frequently used by online shoppers to refer to the scenarios where people take advantage of preferential policies or loopholes offered by retailers or other businesses.

Example:

A: 这件衣服标价错了吧，怎么才二十元？

Zhèjiàn yīfú biāojià cuò le ba，zěnme cái èrshí yuán？

They must have made a mistake. How is it possible that this outfit sells for just 20 yuan?

B: 你不打算薅羊毛吗？赶紧下单！

Nǐ bù dǎsuàn hāoyángmáo ma？Gǎnjǐn xiàdān！

Aren’t you going to take advantage of it? Place an order now!