[Preface]
In the past year, after experiencing a retaliatory rebound in full swing and a cautious pursuit of cost performance, consumption gradually formed a more stable new normal and new order. In 2023, consumption contributed more than 80% to China’s GDP growth and became the biggest pillar of economic growth. In 2024, young consumers have become the mainstay of driving consumption by stimulating consumption potential and cultivating new consumption growth points.
For companies and enterprises, if they can understand the trend of youth consumption, they will have the opportunity to strive for a more favorable position in the new market environment.
In the first half of 2024, the phenomenon of youth consumption was very "contrast":
This year’s young people spent a lot of money on digging and searching, while trying to roll up and looking for a sense of relaxation.
They believe that "every penny should be spent on the cutting edge", "multi-channel price comparison" and "flat replacement" have gradually become the trend, and pursuing "emotional value" can spend a lot of money on the experience.
They not only pay attention to carpe diem, but also hope to establish a boundary between life and work.
They have become more savvy, and they are both important and important in consumption decisions. …..
They are not only "sober in the world", but also "partial generous" consumers with both quality and emotional value.
When they reach a certain age, there will be a three-piece set of Chinese blood awakening, and they will be special forces in reverse travel.
They steal time during the busy working day, get rid of the smell of class in the park for 20 minutes, recuperate themselves after work, and go straight to night school to find new nourishment.
Behind the fashion trend of consumption in 2024, there is a consumer’s pursuit of experience, trying to find a new balance in life through consumption. With the emergence of new demands, new models and new trends, it also brings brand-new opportunities and challenges to the consumer market.
In June 2024, the Beijing News Shell Finance launched the "2024 Young People’s Consumption Trend Survey", in which 1,016 respondents under the age of 35 from all provinces in China participated. Through the comparative analysis of data, what changes have been found in the consumption habits of young people? How does it quietly affect the market structure?
On July 5th, at the sub-forum "YOUNG People’s Consumption" of the 2024 Shell Finance Annual Meeting, the Beijing News Shell Finance released the "2024 China Youth Consumption Trend Report" and the top ten trends of youth consumption, revealing how the young people’s consumption can be more finely graded and the new consumption format brought by the youth’s consumption power.
We found that:
【Youth consumption trend 1】“IntelligenceBrain " Be keen on price comparisonAi mai ping tiSeeking innovation and change on the basis of pragmatism
【Trend 2 of youth consumption】Check the raiders before buying, pay attention to others’ evaluation and recommendation.
【Trend 3 of youth consumption】be in favour of“Fine health care" enjoy“Instant tonic"
【Trend 4 of youth consumption】opposite direction“fancytravel" Seeking natural and humanistic nourishment
【Youth consumption trend 5】petlife“Familialization" spendIntensive cultivation“mere/small child"
【Youth consumption trend 6】oldChinese brand“rise" Young people value the high quality of domestic products.andsense of trust
【Youth consumption trendSeven]Self-healing while decompressing, nearly 30% of respondents will spend for emotional value.
【Trend 8 of youth consumption】Green and recyclable lifeCheng "New fashion" Pay for sustainable brands and products
【Youth consumption trend 9】 Seeking "Relaxation" Smart Home Appliances to Help Young People Get rid of "Force"
【Ten trends of youth consumption】“Fancy financial management"Painless save money.Regain the sense of life control
A total of 1106 respondents participated in this survey, of which 1016 were aged between 18 and 35. Of the 1016 respondents, 47.83% were men and 52.17% were women, and the income distribution of the respondents was relatively balanced. 48.92% of the respondents live in first-and second-tier cities, 26.68% live in counties and towns, and 24.41% live in third-and fourth-tier cities.
Based on our daily insights and questionnaires, we summarized the following ten consumption trends of young people.
【Youth consumption trend 1】“IntelligenceBrain " Be keen on price comparisonAi mai ping tiSeeking innovation and change on the basis of pragmatism
This year is a year when big brands are scrambling to cut prices. Some clothing, catering and consumer brands have launched "sub-brands" with lower customer unit prices to attract consumers. The brands that ran out in the "low price war" shouted the slogans of "lower price" and "cheaper". In addition, the price of coffee rolled from 9.9 yuan to 6.6 yuan, and catering brands embraced low-priced group meals.
Young consumers become more prudent and smart, pay attention to cost performance and actual value, and ensure that every penny can get more valuable enjoyment. This trend is reflected in daily life, such as 9.9 yuan of coffee and 10 yuan to cook a meal, which shows that young people are in control of consumption autonomy, moving towards "sober life" and frugal life.
According to the survey, 41.04% of the young people interviewed often compare prices when shopping, and 19.29% of the young people interviewed will compare prices when buying any goods. They frequently "shuttle" between major e-commerce platforms and physical stores to choose the goods with the best cost performance. Only 5.81% of the respondents never compare prices and buy the goods they need directly.
We refer to these people who are willing to use more channels to understand commodity information and are keen on price comparison, second-hand and flat replacement as "intelligent consumers". It is worth noting that although young consumers pursue cost performance, they are not "low price first". For young people, the word "cost performance" does not mean that they will make do, but look for low-priced goods without lowering quality and pursuing style.
In the eyes of consumers, looking for second-hand and replacement is a rational way of consumption that still maintains a refined life. It can not only get high cost-effective products, but also get extra money-saving fun. The survey found that when shopping, young people don’t always choose the lowest price of a certain kind of goods. 38.88% of the respondents said that they sometimes choose goods with lower prices, but other factors such as quality and brand are equally important for consumption decisions. In other words, these consumers sometimes choose higher-priced goods because of other factors such as quality and brand.
In addition, 16.24% of the respondents said that they rarely choose goods with lower prices, and they pay more attention to the quality and brand of goods than the price factor when shopping. 6.4% of the respondents do not consider the price factor when shopping, and never choose a lower-priced product in a certain category, giving priority to other factors such as quality, brand and service. Among the respondents, only 12.11% are "low-price supremacists" and always choose the goods with the lowest price when shopping.
Under the concept that consumption is not degraded, young people will start from the demand itself. According to the survey, it is the most important whether the plain goods can meet the demand. 51.48% of the young people interviewed said that when the quality of plain goods is enough to meet the demand, they will choose to save money.
Discounts and discounts are the second biggest reason for young people to choose flat goods, and 45.37% of the respondents will choose flat goods because of discounts and discounts. In addition, 43.7% of the respondents will choose the substitute products because of others’ recommendation, while 34.35% and 27.26% of the respondents will choose the substitute products because of the rising price of the original brand and limited budget.
People gradually realize that the so-called "replacement" will not reduce the quality of life, but can meet their own needs in a more economical way.
Take coffee in daily consumption as an example. In the past few years, people have turned from a cup of commercial coffee with a price of more than 20 yuan to embrace brands with acceptable taste and higher cost performance. Among them, the brand represented by Kudi Coffee stands out, and the 9.9 promotion campaign launched by Kudi Coffee has been favored by more young consumers. Since the early summer of this year, the sales of pomelo and American single products have exceeded 7 million cups, and the sales of fruit and coffee have exceeded 12 million cups. Behind the hot sales, more and more consumers tend to consume rationally, pay more attention to the products themselves and pursue cost performance.
In order to attract young consumers who are looking for freshness and quality experience, in the past year, Kudi Coffee was launched once every two weeks on average, and co-branded with heavenly god blesses the people, Spongebob, the glory of the king, Zhenhuan Chuan and other well-known IPs, covering music, sports, fashion, trendy play, culture and other fields, which resonated with young people and provided customers with a fresh brand experience.
【Trend 2 of youth consumption】Check the raiders before buying.Pay attention to evaluation and recommendation
This generation of young consumers not only make rational decisions, but also pay more attention to the necessity and durability of goods. Before consumption, they will fully investigate and compare the quality and price of goods, search for relevant information through multiple platforms, shop around, and do their homework in advance just to find out the "optimal solution" of consumption.
According to the data of the Beijing News Shell Finance Questionnaire, in addition to price information, in the consumer market where information is constantly jumbled, others’ evaluation and recommendation has become a decision-making vane that can not be ignored, affecting young people’s consumption behavior. 28.05% of the respondents said that when purchasing goods, they always put a lot of energy into carefully reading the comments and recommendations of other consumers, and 38.48% said that they often refer to the comments and recommendations of other consumers. Only 5.12% never refer to it, completely according to personal judgment.
"Shopping around" is not only the exclusive behavior of elderly consumers, but young consumers usually go through more complicated comparisons before making a purchase decision-identifying needs, searching for information, evaluating cost performance, deciding to buy and sharing shopping experience after buying. In this process, consumers not only narrow the cognitive gap and information gap by collecting and comparing various information, but also actively share their own consumption experiences on social platforms.
Young consumers rely more and more on online information when shopping. Social media content, strategy platform and evaluation content have become important sources of information, and also help consumers identify valuable consumption auxiliary information from the massive information.
This trend reflects the increasing demand of consumers for information transparency and reliability, and they hope to get more useful information by looking at the raiders. In addition, from the perspective of marketing, in addition to traditional marketing methods, enterprises can also meet the information needs of consumers and enhance the trust and influence of brands by providing high-quality strategies and evaluation content.
In daily consumption, we will try our best to make consumption strategies and multi-channel price comparison, and the platform that provides services such as trying before buying and returning for 7 days without reason is more popular. This year, budget-conscious consumers began to get used to "decentralized consumption", and people would compare prices through multiple channels, such as buying digital products in JD.COM, stocking consumables in 1688, and buying clothes and shoes at Vipshop.
With the consumption concept of "quality and cost performance" deeply rooted in people’s hearts, young consumers pay great attention to price comparison when buying goods, focusing on "you can buy expensive ones, but you can’t buy expensive ones".
According to the data of Vipshop, in this year’s 618, consumers prefer big-name clothes with ultra-low discounts. In the limited explosion activities, Nike T-shirts as low as 100 yuan, Armani T-shirts with 277 yuan, and classic BURBERRY shirts with 40% discount were snapped up by consumers.
【Trend 3 of youth consumption】be in favour of“Fine health care" enjoy“Instant tonic"
After 95, there were 3 kinds of health products per capita, including eight pieces of brocade in the morning and foot bath bags in the evening.recover from fatigue
In 2024, young consumers paid more attention to health preservation, showing a consumption trend of "fine health preservation and instant nourishing", reflecting the enhancement of young people’s health awareness and the demand for instant health solutions.
Compared with the previous generation of consumers, post-90s and post-00s pay more attention to prevention and maintenance, rather than just relying on treatment and remedy. Some netizens teased that "keeping the blood in good health" seems to be an attribute that Chinese will automatically wake up when he is old. This change stems from higher income level and stronger health awareness.
According to Tmall health data, 30% of coenzyme Q10 and 45% of liver protection tablets were bought after 90 in 2023. After 1995, there were 3 kinds of health care products per capita, and 30% of the money was spent on improving immunity. With the increasing number of "component party" consumers, people pay more attention to product components and actual efficacy than brands. Contemporary young people have eight pieces of brocade to protect their bodies in the morning and foot-soaking bags to relieve fatigue in the evening. They mainly stay up all night while keeping in good health, and 15% of liver-protecting tablets are placed in the early hours of the morning.
Contemporary young consumers have diversified and convenient ways of keeping in good health, and their health awareness has been continuously enhanced, which has promoted the upward development of health care industry. From 2017 to 2020, the market scale of health care products in China maintained double-digit growth, and in 2023, the market scale exceeded 300 billion yuan for the first time. According to the forecast of Ai Media Consulting, the market scale of health food in China is expected to reach 355.4 billion yuan in 2024.
【Trend 4 of youth consumption】opposite direction“fancytravel" Seeking natural and humanistic nourishment
46.36% arrange multiple trips every year, and the annual travel budget is more than 5,000 yuan.
From last year’s commando tour to this year’s "small town fever" and "reverse tour", the pace of young people’s tourism has never stopped. According to the survey, more than 70% of the respondents travel at least once a year, of which 46.36% arrange multiple trips every year, 26.28% regularly arrange trips once or twice a year, 17.22% occasionally travel once, and only 10.14% of the respondents rarely arrange trips due to time, economy or other reasons.
Over 40% of the respondents will spend more than 5,000 yuan on travel every year, among which the most people are in the range of 5,000 yuan to 10,000 yuan, accounting for 39.12%. In addition, 24.9% of the respondents said that they would not set a travel budget, depending on the actual situation.
Although the travel fever continues to rise, people’s attitude towards travel has changed a lot. After the busyness of special forces travel last year, this year people hope that the journey can slow down and avoid crowds and crowds. Consumers attach importance to the experience of the journey, which makes transit travel, rural investigation travel and county town travel become new trends.
This year’s "May Day" holiday, in addition to the traditional popular tourist cities, small towns have become the "new darling" of the tourism market. According to Ctrip data, the year-on-year growth rate of tourism orders in first-and second-tier cities on May 1st this year is less than that in third-and fourth-tier cities, which are smaller than the county market, and the average growth rate of tourism orders in popular county tourist destinations is 36%. According to the data released by Tongcheng Travel, during the Dragon Boat Festival holiday, the popularity of travel booking in popular third-and fourth-tier cities has more than doubled year-on-year.
Both the upsurge of "reverse tourism" and the rise of "small town fever" show that young people seek the nourishment of nature and humanity during their travels. According to the survey, nature and outdoor adventure have become the favorite travel experiences of the young people interviewed, and 43.5% of the respondents pursue such experiences more in their travel planning.
The exploration of historical sites has become the second largest choice for young people’s travel experience, and 42.32% of the respondents have added such projects to their travel itinerary. 22.05% of the respondents will include "relaxing in the resort" in their itinerary, which means that for young people, a trip is no longer a simple rest, but also an opportunity to embrace nature and know the world.
On the issue of travel accommodation, young people have their own unique choice "standards".
When young people choose hotels or homestays, 44.49% will pay attention to whether the environment and decoration style are in line with their preferences, 42.03% will pay attention to whether the dining choices are diverse and in line with their tastes, and the safety of accommodation and the comfort of rooms have become the third major factors for young people to consider.
Young people’s concentration on price-related factors ranks third from the bottom and second from the bottom. This also shows that young people are more inclined to pursue personalized experience in the decision-making process of travel and accommodation, and are willing to pay a reasonable premium for unique experience, personalized choice and quality enjoyment.
The younger generation of travelers have a higher degree of awareness of the rights and interests of members, and are good at gaining rights and interests by studying the gameplay of the membership system and fully using it to enhance the travel experience.
The traditional hotel membership system only focuses on accommodation consumption scenes, while the ways for members of first-time travelers like LIFE Club to accumulate "wish beans" include hotels and other high-frequency consumption, and participating in online and offline social activities. "Wish Bean" can not only be used for breakfast, room promotion and other courtesy, but also be exchanged for more than 230 kinds of cross-border life rights, so it is favored by young people.
At the same time, exploring and linking local life has become one of the travel motivations of young consumers.
For example, LIFE Club introduces talk shows, coffee classes, reading clubs, electric competitions and other local life activities in the hotel space, which also provides incremental value for young tourists who are willing to explore.
【Youth consumption trend 5】petlife“Familialization" spendIntensive cultivation“mere/small child"
In recent years, under the influence of social phenomena such as aging population and young people living alone, pets have gradually become people’s spiritual sustenance to soothe their emotions and resist loneliness. Young consumers are eager for simple, accurate and lightly burdened companionship, and pets are undoubtedly the best companionship, and the trend of "family-oriented" pets is becoming more and more obvious.
According to the consulting data of Ai Media, since 2018, the industrial scale of China’s pet economy has entered a stage of rapid development, with a growth rate of 32.8% in this year, and has maintained double-digit growth since then. In 2023, the industrial scale reached 592.8 billion yuan, with a growth rate of 20.1%.
The current consumption situation and new trends of sub-categories in the pet market are also constantly changing, among which food and supplies support hundreds of billions of markets. According to Ai Media’s consulting data, in 2023, the market size of pet food industry was 190 billion yuan, and the market size of pet products reached 40.7 billion yuan.
According to the survey data, 85.24% of the respondents have spent money on pets, and the number of people who buy toys and entertainment facilities for pets is the largest, accounting for 46.85%. Pet medical care has become the second largest expenditure, and 44.29% of the respondents have paid for it. In the eyes of young people, keeping pets is no longer "living with food", they are family members and friends. Young people are willing to invest more money and energy to improve the quality of life of pets.
In addition, refined pet health management has become a new consumption trend, which has promoted the upgrading of pet food, pet products and other industries to intelligence, specialization and diversification.
【Youth consumption trend 6】The rise of old Chinese brandsYoung people value domestic products with high quality, strong trust and creativity.
In recent years, the trend of domestic products has risen from various consumer fields, from beauty and skin care, sportswear to snacks and smart home appliances … Domestic brands have become the choice of more and more young people. According to the survey conducted by iResearch in 2023, nearly 90% of China consumers have a positive or even quite positive attitude towards the quality of domestic products, and the status of domestic products in the minds of young consumers is still improving this year.
Why do young people fall in love with domestic products?
The survey found that good quality and low price are the biggest reasons for young people to choose domestic products, and 54.92% of the respondents said that they chose the old domestic brands with a long history because of their product quality. Trust in traditional culture and national brands has become the second biggest reason for young people interviewed to choose domestic brands. Under the blessing of quality labels, domestic brands not only carry the functional value of the goods themselves, but also become a bridge to convey cultural self-confidence and stimulate national pride.
At the same time, the old domestic brands constantly explore the balance between inheritance and innovation, and continue to innovate and develop under the premise of maintaining traditional characteristics. 42.42% of the respondents said that they chose domestic products because domestic brands pay attention to innovation and research and development, while 37.4% chose domestic products because they maintain traditional characteristics.
In addition to the continuous recognition of product quality by consumers, domestic brands combine past accumulation with young elements, and are telling China stories about quality, culture and innovation with a youthful attitude.
Behind the popularity of domestic brands is the two-way rush of young consumers and brands. The rise of China brand also benefits from its continuous improvement in quality, technology, value and creativity. At the same time, young consumers have changed from blindly pursuing brands to more rational and strategic consumption behaviors, and their recognition of domestic products has continued to increase, which has gradually expanded the brand market share.
In the catering industry, national tide marketing has also become an important strategy. Catering brands create a unique brand image and consumption experience by integrating China traditional cultural elements and modern design.
For example, Kuafu, a chain restaurant brand that has gradually become a "online celebrity" brand recently, is named after the characters in the traditional myth "Shan Hai Jing" in China, and "Kuafu Day by Day" is a popular fairy tale in China. The trademark with China cultural connotation endows the brand with the spirit of national tide, which is in line with the trend of increasing cultural confidence in China at present. Brands also take advantage of this opportunity to constantly create the highlights of traditional cultural marketing. Recently, it co-signed with the new drama "Fox Demon Little Matchmaker" of Guofeng, playing the brand mentality of "watching Guofeng drama and eating China fried chicken", which led a wave of consumption upsurge of catering industry.
In recent years, the wind of domestic products has swept through various consumer fields, which not only reshaped the shopping choices of domestic consumers, but also made the world know "Made in China" again. Not only in the field of daily consumption, but also in the manufacturing industry, domestic brands are becoming the choice of more consumer groups.
In recent years, the market share of self-owned brands has been continuously improved. In 2023, the market share of self-owned brands in China exceeded 50% for the first time, and the field of new energy vehicles continued to lead. This year, the domestic new energy market will add another member, Xiaomi SU7 "intelligent driving+intelligent cabin+ecology" will become the core of its technical competition, and realize the intelligent connection between people, vehicles and homes. In June 2024, the delivery volume of Xiaomi SU7 exceeded 10,000 units, making it a new choice for more young consumers.
【Youth consumption trend 7】Self-healing while decompressing, nearly 30% of respondents will spend for emotional value.
In 2024, emotions become the consumption demand of young people. In addition to material gain, young people also hope to get psychological satisfaction. According to the survey, nearly 30% of the young people interviewed will spend because emotional value heals their body and mind.
Busy in life and work, young people are facing more and more pressures and troubles. This year, creative green plants such as "burnt green bananas", "dynamic light pines" and "flying pine trees" have become young people’s "partners at work". The popularity of these green plants on desks is another way for young people to vent their emotions in their fast-paced workplace life. "Going to work" resonates with the inner pressure and anxiety of young people and helps them pursue inner peace.
While finding an outlet for emotional venting, young people are also looking for a "placebo". The relaxed and funny emotional value provided by movies, TV series and variety shows has become a daily "emotional regulator" for young people. With people’s emotional needs becoming more subdivided, many brands have launched diversified and personalized consumption scenes and products to meet the diverse needs of consumers.
The emotional value and immersive experience provided by videos and film and television dramas have become important leisure and entertainment contents for modern urbanites. Young consumers are more willing to pay for the emotional value provided by good content, and this trend has also been confirmed in the consumption of video platforms.
In the past, ordinary VIP members could meet the needs of most consumers. With the higher demand for experience at home and the deep pursuit of drama, the video platform has appeared the phenomenon of hierarchical consumption in recent years. Meet diverse needs with different membership levels and a variety of value-added service products.
Take Youku platform as an example. During the finale, the recently-hit Mo Yu Yun Jian released an off-site MV after the marriage of "Fei Chang Xiao Zhang" CP. During the broadcast of Mo Yu Yun Jian, Youku captured the audience’s voice, linked the filmmakers and quickly completed the filming of the off-site MV. This move is regarded as a new exploration of diversified services by the long video platform.
It is worth noting that in addition to finding emotional substitutes, young people are also starting self-healing actions. In 2024 # Restart Life # Related topics were hotly discussed, and many young people shouted "Raise yourself again", such as taking an interest class that they didn’t have a chance to learn when they were young, giving themselves a gift that they didn’t get when they were young, or experiencing medical beauty …
Behind the young people’s choice to "raise themselves again" is to make up for their unsatisfied interests and hobbies in childhood. According to the survey data, 37.4% of the respondents consume for personal hobbies, among which the younger people are more inclined to consume because of personal hobbies, 42% of the respondents in the 18-25 age group said they would consume because of personal hobbies, while the proportion between 30 and 35 years old is 35.04%.
This year, providing emotional value has become the consensus of almost all industries, even the fresh e-commerce platform.
Ding-dong found that in addition to satisfying consumers’ just need to eat, more and more young consumers are willing to pay for hobbies and good things to improve their quality of life. In the past few years, Ding Dong has been selling goods with similar emotional value, such as ornamental goldfish, seeds of various vegetables, hydroponic vegetables, mushroom sticks, grass dolls and so on.
According to the data of Ding Dong’s grocery shopping, every weekend, the sales of flowers in Ding Dong’s grocery shopping country exceed one million, and almost all consumers are female users, satisfying their own needs.
In June this year, Ding Dong bought food platform to sell online celebrity Shoushou crab, white jade snail, fresh wedding fish and other single products, and unexpectedly became popular on social media. Taking Shoushou crab as an example, its highest daily sales in June exceeded 10,000 copies, making it a "fishing partner" in the office of "migrant workers" and receiving enthusiastic response from pet owners.
【Trend 8 of youth consumption】Green and recyclable lifeCheng "New fashion"
Pay for sustainable brands and products. More than half of consumers are willing to buy second-hand new energy vehicles.
Young people in China are becoming the main participants in the global sustainable trend. According to the data of Credit Suisse Research Institute, the participation of young consumers in China ranks third in the world in sustainable development, which shows that they attach great importance to environmental protection and sustainable development on a global scale. For this young consumer, green environmental protection has become a new trend of life-green travel, paper and plastic reduction, recycling … has become a green and low-carbon lifestyle for many people, and young consumers support green and sustainable development with their own practical actions.
According to the data of the Beijing News Shell Finance Questionnaire, young consumers show a strong willingness to pursue the concept of fashion, health and environmental protection, and they are more willing to pay for sustainable brands and products.
This trend is not only reflected in the brand preference, but also reflected in the consumption decision. According to the survey, more than half of the respondents indicated that they would spend money on second-hand platforms, among which 32.28% thought that second-hand platforms were more cost-effective, 24.11% thought that second-hand recycling was more environmentally friendly and low-carbon, and 17.13% of the respondents would decide according to the attributes and conditions of the goods.
From different age groups, the reasons for buying second-hand products are slightly different, and the younger consumers are more willing to pay for environmental protection. According to the survey, among the people aged 18-25, 26% of the respondents choose second-hand goods because they are more environmentally friendly, accounting for the highest proportion. This is mainly because young consumers are growing up, and the concept and actions of environmental protection in the whole society are constantly strengthened, which also makes this a priority factor in their consumption decisions. With the increase of age, the proportion of consumers who choose second-hand goods because of higher cost performance is gradually increasing.
Regardless of online scene or offline life, sustainable consumption is being paid attention by more consumers, and the concept of low-carbon life has gradually taken root in people’s hearts. In life, young consumers have their own ways to practice green and low carbon. For example, ANT FOREST records energy saving by planting trees.
ANT FOREST uses virtual "green energy" to inspire everyone, so that every little bit of low-carbon behavior in daily life makes a mickle. These "green energies" creatively turn serious public welfare activities into "games" that users can participate in anytime and anywhere by applying on mobile phones and donating money by enterprises to plant real trees, restore ecology or protect biodiversity. This innovative interactive mechanism has greatly lowered the threshold of public participation, making more and more young people willing to participate in environmental protection actions by practicing low-carbon life in various ways.
Alipay ANT FOREST has more than 600 million cumulative users, among which young people are the mainstream. ANT FOREST has attracted a large number of young users to participate continuously through interesting online ways such as saving energy, harvesting energy, watering and patrolling protected areas, and participated in green public welfare actions such as afforestation and desertification control with the support of "green energy".
Young consumers began to pay attention to the energy consumption of commodities in the production process and its impact on the environment. As an energy-saving and environmentally-friendly product, new energy vehicles are among the choices of many consumers. In 2023, the penetration rate of new energy vehicles in China reached 31.6%. At the same time, new energy used cars with lower cost have also become a new choice for young people to buy cars. According to the survey data, 56.3% of the young people surveyed are considering buying new energy used cars, and 25.98% said they would struggle to buy new energy used cars.
Cars are the second largest consumption besides houses in life, and young people are more willing to choose "doing big things with small money" when buying used cars. How to buy new energy used cars without stepping on the "pit" has become the most concerned issue for young people to buy used cars.
According to the survey, 49.31% of the respondents said that they were most concerned about whether the price was in line with the budget, and over 40% of the respondents said that they would be concerned about whether the age and mileage of the vehicle were moderate and whether the overall condition of the vehicle was good.
The in-depth test drive service provided by the melon seed second-hand car platform conforms to the consumption habit of young consumers "try first and then buy", which further promotes the enthusiasm for buying new energy second-hand cars.
【Youth consumption trend 9】Seeking "Relaxation" Smart Home Appliances to Help Young People Get rid of "Force"
Faced with the rising uncertainty of the living environment, young people gradually get rid of the "sense of exertion" and turn to a sense of relaxation. Relaxation doesn’t mean laziness and inaction, but a state between involution and lying flat. In the face of pressure, we maintain a state of mind of being fast, slow and relaxed. In dressing, it is most important to give up the sense of exquisiteness and keep up with the trend at all times, and to be comfortable and casual. In the aspect of traveling, I no longer pursue online celebrity’s punch card, but prefer to get close to nature and get rid of my "class flavor".
Judging from the overall consumption trend, the sense of relaxation is also a part of young consumers’ pursuit of high-quality life. With the increasing attention of young people to health, self and family happiness, they no longer blindly pursue brands and luxury goods, but pay more attention to the practicality and durability of products, hoping that goods can bring them a sense of relaxation or separate themselves from cumbersome affairs.
Young people spend for relaxation and constantly promote the development of related industries.
In the field of clothing consumption, the mention of wearing styles such as "lazy style" and "old money style" has gradually increased. A huge amount of arithmetic data shows that in the first half of this year, the "Lazy Wind" search index rose by 400.98% year-on-year.
In the field of smart home appliances, the turnover of over 700 home appliance brands in JD.COM this year increased by over 100% year-on-year, and the turnover of energy-saving flat-panel TVs, smart wall-mounted toilets and smart leather art beds increased by over 100% year-on-year; The total turnover of multi-core categories grew at a high speed, among which household ornaments and lighting categories increased by 17.5 times and 9.7 times year-on-year, and the sales of new explosive products such as smart toilets performed brilliantly.
At the same time, the plush toy industry has become a billion-dollar new track. The White Paper on the Development of Toys and Baby Products Industry in China in 2024 shows that the adult-oriented market segments such as plush toys, cards and hand-made products have achieved double-digit growth for several months in a row.
Young consumers want to liberate themselves from some complicated affairs, their bodies and spirits, and take time out in the high-speed pace of life to get rid of the "sense of exertion" and let themselves devote themselves to hobbies or leisure activities. Smart home appliances are an important helper for young people to get rid of the "sense of exertion". They help modern people realize the "sense of relaxation" in their lives by reducing the burden of housework, providing personalized services and creating a comfortable environment, making home life more relaxed, enjoyable and healthy.
This is also what smart home appliance brands are looking forward to.
At present, Chasing Technology liberates users’ hands with four categories: sweeping robots, intelligent floor washers, wireless vacuum cleaners and high-speed hair dryers, so that users have more time and energy to pay attention to themselves and enjoy life.
Chasing technology also meets the needs of different users by selecting and creating new scenes. For example, H20/H30 series floor washers solve the problem of hair entanglement that has been bothering users for a long time, and X40 series sweeping robots realize the edge-sticking cleaning of dead corners on the wall < 1mm, and solve every clean dead corner.
【Ten trends of youth consumption】“Fancy financial management""save money painlessly "Regain the sense of life control
62.6% of the respondents have purchased non-monetary funds. Popular among young people“Live on income"
Young people who grow up in uncertainty gradually tear off the label of "Moonlight Group". There are more than 1.59 million items related to "saving money" on a social platform, and various accounting apps take turns.
On how to "save money painlessly", young people also have their own methodology. According to Yu ‘ebao’s data, after 20 million yuan, they choose to save money regularly, and after 6.4 million yuan, they set up lace savings, and remember to save a sum when they spend a sum. In addition, there are "pretending to save money" for yourself, "idol saving money" that sets saving goals according to the frequency of idol activities you like, and "saving money against gambling" …
Saving money is only the first step, and many young people have gradually moved from simple saving thinking to a new stage of investment and financial management. A few years ago, the gold fever continued, and many young people joined the "gold rush army". The survey results show that 57.48% of the young people interviewed have bought gold. In this wave of gold rush, the young people in the county are more active. More than 60% of the young people in the county interviewed have bought gold, exceeding the overall proportion.
Respondents in the county town have bought the highest proportion of gold.
After repeated education in gold, jewelry and funds, some young people have entered the "next level". According to the data of "2020 Chinese Financial Trend Report", nearly 40% of online financial users have developed the habit of allocating "three sums of money" for short-term expenses, insurance protection and investment appreciation, of which nearly half are born after 90.
At the same time, young people’s financial behavior has expanded from a single channel to diversified choices, and some young people’s investments involve bonds, foreign exchange, digital currency and other emerging fields. According to the White Paper on the Investment Survey of College Students’ Funds in China in 2023, funds are the most popular among college students, among which baby funds such as Yu ‘ebao have become the choice of 70% of the respondents, and 62.6% have purchased non-monetary funds. Among the college students who hold fund products, monetary funds have the highest holding rate, followed by stock funds and bond funds. It is worth noting that some interviewed college students began to play more complex financial products, such as ETFs and overseas funds.
In addition, a small number of college students dabble in a variety of financial management, and 2.2% said that they have purchased funds, stocks, bonds and other products.
Young people are not only more intelligent in consumption, but also smart in saving money. There are still many people who like to "live with income" and cover part of their daily expenses with the income from Yu ‘ebao.
In recent years, the market has continued to fluctuate, and everyone’s awareness of saving money has gradually increased. Steady wealth management products such as Yu ‘ebao have changed from "financial enlightenment" to "saving money" for young people. According to the data of Yu ‘ebao, as of the end of May, the per capita position of Yu ‘ebao after 00 was nearly 3,000 yuan, a year-on-year increase of nearly 50%. After 00, the frequency of saving money reached 10 times per month, an increase of 10% over last year.
Steady wealth management products such as Yu ‘ebao have changed from "financial enlightenment" to "saving money" for young people.
Young people also share and acquire financial knowledge through social software and pursue "fancy financial management", which also makes the original complicated and boring financial management interesting and easy to understand. According to Alipay data, there are 20 million users of Yu ‘ebao who choose to save money regularly, and after 6.4 million, they set up lace savings, and remember to save a sum when they spend a sum. After 00, 40% of users with small wallets, and nearly half of them started the automatic saving plan "painless saving money" to save their small coffers smarter.
People are keen to save money for planned trips, watching performances, learning English, etc. and motivate themselves. In 2023, Alipay Pocket has produced more than 20 million "small goals" to save money.
In the process of saving money, saving money and dividing accounts have also become a social way. The data shows that more than 10 million "common" wallets are created in small purses, and people use small purses to pay bills for sharing, dining and traveling. More and more young people choose this kind of money social way with human feelings and without losing the sense of boundary.
In addition, different types of money saving needs can be realized through "small purse". The data shows that it has become a new trend for couples to save money for love. Two people share a couple’s small purse, which increases by 200% year-on-year, and nearly 60% of couples spend money together. Couples deposit an average of 8000 yuan in their wallets. There is a strong demand for high school students to become beautiful during graduation season. In June, the consumption of nail salons and beauty salons of high school graduates increased by 50% month-on-month, the consumption of photography and video cameras increased by 55% month-on-month, and the consumption of gyms/dance rooms/yoga rooms increased by 60% month-on-month. College students take precautions. In June, the newly-built "timid fee" theme small purse increased by 16%, and more than 10,000 college students saved up the confidence to resist risks after graduation.
Produced by Beijing News Shell Finance
Producer: Su Manli
Column coordinator: Zhang Quanwei and Ren Jiao
Reporter: Fang Jingyi.
Data analyst: Dong Yinan
Written by: Yang Yifan
Design: Ren Wanqing
Editor: Wang Jinyu
Proofreading: Chen Yanyan
