In the context of promoting stable growth of consumption and fostering new types of consumption, the consumption demand, consumption characteristics and consumption concepts of the “Generation Z” population born from 1995 to 2009 deserve attention. How to better tap the consumption potential and grasp the future consumption trend from the change of consumption demand of “Generation Z”? Through interviews with consumers and experts, the reporter of Economic Daily observed the diversified consumption concept and more rational consumption orientation of “Generation Z”, discussed the existing problems, promoted the formation of a youth friendly consumption environment, and better released the consumption potential.
Focus on individualization and fun
How good is the blind box for young people? At the weekend, at the Heshenghui Paopao Mart store in Chaoyang District, Beijing, many light consumers almost carry a bag, with two or three bags in the store and a whole set of bags in the store. Many popular products have been out of stock.
Near the blind box vending machines that can be seen everywhere in shopping malls, many young people gathered to discuss the new series. Xu Xin, who was born in 1998, said: “I probably bought hundreds of blind boxes. As long as it is co branded with my favorite IP, I will buy the blind boxes. If a series of blind boxes are cute, I will buy the whole set.”
The “Generation Z” group has strong consumption power and strong purchase intention, and the randomness and unknowability of the blind box just meet their psychological needs for novelty and stimulation; They are happy to share their blind box achievements and unique taste through social media, and blind box consumption has become a “social currency” among young people.
According to the survey, it is not only self collection, but also the routine operation of many fans to collect and sell blind boxes on the Internet second-hand trading platform. Many hidden, exclusive or out of print styles that are hard to find at ordinary times can be found on second-hand platforms.
Different age groups have different consumption habits, consumption patterns and consumption concepts. ”Generation Z” has its own network gene, so it is also called “Cyber Generation” and “Internet Generation”. According to the data of the National Bureau of Statistics in 2018, the total number of people born in mainland China from 1995 to 2009 was about 260 million. According to big data forecasts, “Generation Z” accounts for less than 20% of the total population, but its contribution to consumption has reached 40%. In the next 10 years, 73% of the “Generation Z” population will become new workers; By 2035, the overall consumption scale of “Generation Z” will increase four times to 16 trillion yuan, which can be said to be the core element of future consumption market growth.
“‘Generation Z’ consumers focus more on social and self-esteem needs, and pay more attention to personalized consumption and experiential consumption.” Ding Ying, associate professor and doctoral supervisor of Renmin University of China Business School, believes that “Generation Z” is more accepting and inclusive of culture, and advocates diversified cultural attributes. ”Generation Z” is keen to rely on various small circle layers of the network to seek identity through circle layer consumption, such as duality, games, blind boxes, etc.
“What I wear most in my daily life is a modified Chinese shirt with a horse face skirt, which is not only beautiful, but also convenient for daily commuting.” Liu Ling, a “post-95″ consumer who works in Datong, Shanxi, also bought a new Chinese hairpin online, which is cheap and easy to match.
According to the survey data released in the relevant report, 53.4% of the respondents are optimistic about the national fashion, and believe that in recent years, many product designs have been integrated into the Chinese style, which is helpful to promote traditional culture. However, 43.8% of the respondents have no feelings for the national tide, and think it mainly depends on the product itself. Among the people who like national fashion culture, 84.9% like Chinese style and national fashion style clothing, and 75.1% of the users said that the reason for indulging in national fashion clothing is the improvement of their sense of identity and pride in traditional culture.
Wearing new Chinese clothes, drinking new Chinese tea, taking new Chinese portraits… In recent years, Guochao Guofeng products have become increasingly attractive to young consumers and become a new consumption trend. According to the Report on Young Consumption Insight of Guochao Brand released by Xinhuanet and Digivo App, compared with 10 years ago, the popularity of Guochao search has increased more than five times, and the post-90s and post-00s have contributed 74% of Guochao consumption.
Today, the “Generation Z” group has strong cultural self-confidence. They are keen on pursuing national fashion brands and have a special preference for products that incorporate Chinese traditional cultural elements. Whether wearing hanfu, tasting Guochao cuisine, or using Guochao electronic products, young consumers show their love and recognition for Guochao culture. According to statistics, among the national fashion consumption projects, products that incorporate elements such as the Forbidden City, Dunhuang, Sanxingdui, the classics of mountains and seas, and the twelve zodiac signs are favored by young people.
The innovative development of “trendy products” of Chinese products is constantly meeting the diversified, personalized and layered consumption needs of the “Generation Z” group. Compared with the pursuit of brand, many light consumer groups gradually realize that the so-called “Pingdi” can meet their needs in a more economical way, so they are more willing to pay for high-quality and distinctive national “trendy products”.
Different from traditional tourism products and services, various niche tourism methods, such as City Walk, “going to a city for a play”, and “reverse travel”, have attracted the attention of many “Generation Z” groups, who prefer to choose tourism destinations that can provide unique experiences.
The “Generation Z” group pays more attention to differentiation and personalized needs, and will enjoy life, pay attention to personality and interest. They are no longer satisfied with traditional group tours and standardized tourism products, but prefer to choose a unique and personalized way of travel. New types of accommodation such as home stay and script hotel are welcomed by young people, who enjoy the pleasure of integrating local culture and experiencing different lifestyles in their travel.
“I often brush a short video and find a beautiful place, so I want to go there very much. Now the travel strategies on social media are also very comprehensive, so I can have a go anywhere trip.” Qin Jing, who is studying in Beijing, said after “00″.
As Internet aborigines, many “Generation Z” groups highly rely on social media platforms to obtain travel information and share travel experiences. During their travel, they are keen on taking beautiful photos and videos and sharing them with friends and fans through WeChat friend circle, Tiao Yin, Xiaohongshu and other social platforms, which not only meet social needs, but also promote the reputation of tourism products.
Pay more attention to the quality price ratio
Cai Hanyu, a Beijing resident, and her husband have two pet cats. The married and childless couple have the time, energy and consumption ability to pet, and spend about 5000 yuan on pets every year. In addition to basic expenses such as cat food and litter, we also regularly take pets for physical examination, bathing, and purchase pet nutrition, snacks, toys, etc.
“Compared with other friends who keep cats, our expenses are not high, and ‘eating’ accounts for most of them. But if a cat gets sick, it will cost thousands or even tens of thousands of yuan at a time, and we are considering whether to buy pet insurance,” Cai Hanyu said.
Cai Hanyu’s friend Cao Rong has a pet dog, and the daily expenses are higher. Cao Rong said, “I also like to take my dog on trips, and I am willing to bear the premium of pet friendly restaurants and home stays. If we travel alone, we will trust the dog in a boarding store, and the price is 100 or 200 yuan a day.”. In order to solve the problems such as hair loss and odor of pets, Cai Hanyu and Cao Rong bought air purifiers and dryers with hair removal function.
The scale and category of pet consumption is growing rapidly. In addition to traditional pet food supplies, the consumption of pet photography, pet education, pet massage, pet funeral and other services has also attracted young people’s attention. There are also some young people engaged in new careers such as pet detectives and pet communicators.
Statistics show that people aged 19 to 30 account for more than 50% of the pet snack consumption groups on Taobao and Tmall. “Generation Z” has become the main driving force for the rise of the pet industry. When purchasing pet products, especially food, many consumers think that quality and safety are the first consideration, followed by price and brand.
“I will carefully study the composition, proportion and manufacturer of cat food, and select the best products for pets within my ability.” Cai Hanyu generally stores goods during the “618″, “Double 11″ and other promotional periods. In her opinion, “rationality” should be the principle of pet consumption – “don’t follow the trend, don’t be fooled; the province, the flower”.
When talking about the importance of pets, Cai Hanyu and Cao Rong both described pets as “family members” who are willing to provide better life experience for pets. ”Spending money on pets is more satisfying than spending money on yourself.” Cai Hanyu said that the process of pet rearing is very rewarding and fulfilling, which is a direct pleasant experience and emotional feedback. In her opinion, the purchase of pet is also an emotional consumption.
In the field of face value consumption, domestic brands are increasingly favored by consumers.
Beijing white-collar Wu Yi invests more than 50000 yuan in “beauty” every year, including buying skin care products, cosmetics, nursing, medical beauty, hair and nail care. ”Efficacy is the first, followed by price and brand. We must choose the one that suits us, not blindly follow the low price.” When it comes to cosmetics selection, Wu Yi said that her principle is “choose the right one, not the expensive one”.
Wu Yi is a part-time purchasing agent. According to her observation, the post-00s have higher trust in domestic brands than the post-90s. ”When the ‘post-00s’ have the ability to consume, the market of domestic cosmetics has been relatively standardized. The’ post-00s’ rely heavily on social media, and domestic brands are more skilled in marketing. They have a good impression of domestic products on the whole.”
Some consumers admitted that they would consider domestic brands in cosmetics, facial masks and other products, but “expensive” products such as face cream and essence still preferred imported products. Wu Yi said: “It is not blindly chasing foreign products, but some products do have patents for foreign brands, and the production technology is leading. There is no substitute in China for the time being.”
The output of domestic cosmetics in terms of efficacy has made rapid progress. In recent years, many domestic manufacturers are doing R&D innovation and technical improvement, and are good at obtaining consumer attention through e-commerce, live broadcast, and social media. Product level and brand image are improving.
The essence of beauty consumption is to delight oneself. Affected by her income, Wu Yi’s total amount of face value consumption declined. ”According to the descending order of” self pleasing “, Wu Yi’s strategy is to reduce the frequency of hair salons, and change the consumption of nail salons from shopping to wearing nails; No longer “hoard” skin care products, but try to ensure the expenditure on care and makeup. After purchasing related products, Wuyi will also share her experience on social platforms. She said, “It’s also a happy thing to get attention and recognition from others”.
Better release consumption potential
Nowadays, the consumption of young people is no longer to meet the basic material needs, but to enjoy a better experience and pursue a more quality life. Whether it is “pleasing oneself” or “emotional value”, it does not mean impulsive consumption or blind consumption. Only by maintaining a balance between rationality and emotion can consumption be sustainable.
According to the Report on Contemporary Youth Consumption jointly released by DT Research Institute and Meituan Takeout, 65.4% of the respondents agree that “consumption should be within the limits of one’s income”, and 47.8% of the respondents believe that “no waste, buy as much as you need”. In order to get “value for money” for every penny spent, about 63.6% of the respondents will focus on strategies, 51.0% will take the initiative to look for coupons for goods, and 49.0% of the “Gen Z” respondents will choose to buy goods with others.
The survey found that while “Generation Z” is more rational in consumption, there are also some phenomena worthy of attention.
First, addictive consumption, values deviation and other issues should not be underestimated.
“For some non-standard live rewards, passionate rewards and irrational rewards, the regulatory authorities have paid attention to and introduced governance measures, such as requiring the platform to give tips on large rewards, or set a cooling off period and remind rational consumption.” Liu Xiaochun, director of the Internet Rule of Law Research Center of the University of the Chinese Academy of Social Sciences, said that for minors in “Generation Z”, They spend parents’ money on live broadcast rewards and other consumption. If it is obviously inconsistent with minors’ consumption ability and cognitive ability, it may involve invalid contracts, and parents can ask for a refund.
In consumption, how “Houlang” people inherit traditional values such as hard work has aroused concern. In view of such phenomena as “lying flat”, “Buddhism” and “gnawing on the elderly”, the interviewed experts call on “Generation Z” to establish a correct consumption view. Liu Junhai, professor of Renmin University of China Law School, said that young people should be encouraged to live up to their ability and consume moderately, expand the space for development oriented consumption, expand the coverage of enjoyment oriented consumption, and reasonably guide luxury consumption.
Second, the problem of product false label is more prominent, and the authenticity is difficult to verify.
Take cat food consumption as an example. In recent years, with the pet market becoming more and more “rolling”, the quality of domestic cat food has been continuously improved. Some interviewees said that the problem of false label of cat food is quite prominent now. The authenticity of the ingredient list of some cat food needs to be verified. Fake cat food and toxic cat food are emerging in the market one after another, which has affected consumer willingness. They hope that the relevant departments will strengthen supervision, introduce more specific standards, and large brands will take the lead in demonstrating and standardizing themselves to truly improve the quality and safety level of pet products.
Third, the cost of consumer rights protection is high and it is difficult to protect rights.
Some interviewees mentioned that they hope that various regulatory measures can be effectively implemented, special complaint handling channels can be opened, and consumers can never let the behavior of cheating consumers go. Only by truly improving the technical level, product quality and service professionalism can consumers have confidence in consumption.
Take medical beauty consumption as an example. Although medical beauty is becoming more and more popular, many young people will “light medical beauty” during their lunch break on weekdays, the market is mixed in general, some products have not been approved for injection, some medical beauty institutions are not fully qualified, and medical beauty instruments are even more difficult to distinguish. Respondents reported that some projects may have immediate effects, but the side effects slowly emerged after several years. When they wanted to claim compensation, the store had already run away.
Liu Junhai believes that the youth friendly consumption concept should be implanted into the spiritual life, material life, cultural life and other fields. The government, enterprises and platforms should pay attention to it so that consumers can consume without worry and rationally. At the same time, it is also necessary to create opportunities for young people to excel, so as to promote consumption.
“The youth friendly consumption environment should, on the one hand, fit their consumption habits and preferences, on the other hand, provide them with positive consumption guidance and help them form a positive consumption outlook.” Ding Ying analyzed that because “Generation Z” focuses on pleasing their own consumption and experiencing consumption, and is more personalized in product selection, the government and enterprises can provide original, distinctive Products with rich sensory experience can meet the diversified and personalized needs of “Generation Z”, highlight the design elements of youth, liveliness, health and fashion, and better stimulate consumption vitality.
Source: Global Textile Network
Dongguan Liansheng Non woven Technology Co., Ltd. was established in May 2020. It is a large-scale non-woven fabric production enterprise integrating research and development, production, and sales. It can produce various colors of PP spunbond non-woven fabrics with a width of less than 3.2 meters from 9 grams to 300 grams.
Post time: Aug-21-2024