The digital economy empowered consumption is in return to become the major driving force for the economy. The young Chinese generation represented by post-90s is rising and set to influence the internet economy in many aspects. Let’s take a look at the characteristics of their consumption habits.
Characteristics of post-90s consumers
When choosing their jobs, post-90s see the realization of self-value and interests more important factors than making money.
Post-90s, the major force of consumption in the next five to ten years, have different opinions in travel, entertainment, and parenting compared with older generations. They like to go on a journey without a plan and check the scenes appeared in movies, TV drama, or books by themselves. 50% of post-90s are likely to go on a trip inspired by movies, TV drama, or books according to a recent CBNData report.
Movie and live show are also their favorites. Post-90s mainly buy tickets online and contribute 57% to box office. 66% of them are willing to share comments on movies, which was just 24% two years ago. 90% of tickets for the Strawberry Music Festival were bought by post-90s and post-00s.
In the face of pressure and tensions, post-90s are more willing to seek help from online platforms. They have grown to be the biggest user group (49.9%) for booking psychological consultation online, followed by the post-80s group (35.2%).
Furthermore, they have different views about parenting and tend to share own experiences online and learn from others.
Post-90s’ consumption attitude
When it comes to consumption, seemingly, post-90s becomes rational and knows where, how to, and why buy what they want.
They have already cultivated the habit of credit consumption due to the consumption value of “borrowing for living”. Payment by installments for online shopping is prevailing among them. However, it seems that they won’t go too far in credit consumption since over 90% of post-90s keep their Alipay’s Sesame Credit limit from running out.
In the eyes of post-90s, pricing has little to do with good products, quality comes first. They don’t go after expensive goods and brands blindly. That’s why the unbranded products on Taobao Choice, NetEase Yanxuan, and etc. find its ways to expand market share day by day.
In addition, second-hand goods are highly acceptable to them. Over 30% of transactions in second-hand car trading platforms were made by post-90s and post-95s, according to Xin.com. Specifically, they preferred cars in economical type priced under 100 thousand yuan.
Post-90s and post-95s show more interests in fresh and niche brands and high-quality goods.
Their preference for niche things also revealed in traveling. More and more went further into less-known places and chose customized travel. Semporna (30%), Mauritius (28%), Male (25%), Edinburg (25%), Reykjavik (25%), Las Vegas (25%), Fiji (24%), Saipan (23%), Menado (23%), and Bali (22%) were top 10 destinations that attracted most post-90s visitors in 2018.
Visiting museums, watching the live shows and contests are the current mainstream gameplays among post-90s. The top 10 hottest museums among post-90s are the New York Metropolitan Museum of Art, USS Midway Aircraft Carrier Museum, National Museum of Singapore, ArtScience Museum, Angkor National Museum, Prado Museum, National Museum of Marine Biology and Aquarium, Orsay Museum, California Academy of Sciences, and Rijksmuseum, according to Ctrip.