1. Better watching than playing
In 2017, with a full, deep penetration into public life, gaming has officially become a mass media, same as online video, television and radio. Compared to other established mass media, game consumers will need a high level of investment, and more block of time rather than fragmented time.
Not only the game itself, but also its derivative content is getting more diverse: including professional gaming competitions, live games, cross content with video, animation, music, literature, and even gaming merchandising is booming. Cross contents and games are becoming increasingly sophisticated: classic game IPs have been adapted into video content, and almost all the popular movies and TV series even variety shows are developing games with their names.
It is worth mentioning that the games’ influence is not limited to gamers, but to a wider audience of pan-entertainment, resulting in a more complete and systematic ecological chain.
2. Single people spend more?
In China, the number of single people exceeds 2 billion. Especially in large cities, where there are up to 53% of single people at workplaces. Being single is becoming the norm of daily life rather than merely serving as a transitional stage of life. Single people have more energy and money to spend on leisure and self-investment than their family counterparts. Chinese young single people generally use their parents' family as the ultimate financial backing compared to single people in other countries. Single people not only have more potential for consumption, but they also have more exuberant needs for emotional connections outside their home.
Young urban single people treat pets as children and family members, creating a quality life by buying lots of amenities for pets. Somehow, the "Traveling Frog", which is popular among young people, has provided another way to the Chinese new generation of consumers facing the social pressure of negative resistance to "getting married and have kids".
3. Culture is the main spending driver
Chinese consumers continue to spend more time on entertainment, with a broader field of interest and ever-increasing appreciation for experience. Thus, their requirements or tastes for entertainment content are increasing. In 2017, entertainment programs with cultural elements generally received very good viewing results, showing that Chinese consumers have a strong desire and recognition for a more escalated spiritual pleasure. The demand for a more cultural sense of quality content will be giving birth to more top content. At the same time, the sense of culture in the field of leisure life also provides consumers a deeper experience and pleasure, hand brewed coffee, craft beer, Scandinavia travel and so on, which is attracting more consumers.
A bunch of programs such as "The rap of China" "the Reader," "National Treasure," "Poetry Conference," and "the Blue Planet" which are very famous in 2017 fully demonstrated the deepening and pluralism of consumer demand for cultural content. The Airbnb's travel advocacy of "authentic experience of local culture" has been a success in the Chinese market.
The comedian Chizi in "Roast", a talk show, uses "knowledge point" as one of the core words of his talk show, and successfully created a separate personal image.
4. “Ageless” makes life more exciting
Not worrying about the age, keeping the energy, being curious and being brave to pursue a beautiful and exciting life without regrets, is more and more popular for today’s modern urban people who want to live an "ageless" life. The boundaries between "childhood" and "teenage" have become more and more vague. "Adolescence" itself has been infinitely extended. Young people are very nostalgic and elderly people are struggling to pursue new ideas. People not feeling limited to their own age and consumption demand is moving towards the "ageless " direction.
Brands may find out that their products are designed to target a particular age segment but are actually attracting a larger age group. The elderly people have money and time to actively learn all kinds of new things, surfing on the internet, watching live broadcasts, studying, online shopping, taking online cooking lessons. They are more and more willing to spend on leisure, health and appearance. They travel progressively more which is why KTV is also full of elderly people.
According to Mintel data, 48% of respondents over the age of 55 think they can travel by themselves, without taking part in travel groups of agencies. 50% of respondents said they are happy to learn something new and will not be scared. 43% said "most of my money is spent on making myself happy, not spending on children."
Tmall’s 2017 Import Consumption Data Report shows that the post 95s people like to buy beauty products such as beauty devices and ampoules, as well as imported health care products and anti-hair loss shampoos, which were more for mature consumers before. According to the official data, the post 90s group remain more than 50% of the audience for mainstream dramas such as Ming Dynasty in 1566 and In the Name of the People. Masters in Forbidden City was also made popular by the post 90s on Bilibili.
5. The upgrading of leisure
In terms of leisure activities, the middle-class consumers are no longer satisfied with simple relaxation and pleasure, but they are willing to get deeper emotional value: rest frequently, get more skills, rich experience, others' approval, and their own feeling of accomplishment and identity. Therefore, the middle-class consumers are increasingly becoming "serious" about leisure and the threshold of activity is higher - skiing, diving with higher skills and equipment requirements, and even trying to get licenses. To increase running skills, they would participate in marathon events, or they would learn how to play music, painting, baking, flower arrangement; others would actively be involved in public welfare activities and nonprofit organizations such as animal rescue teams, green organizations and so on.
In 2017, more than 120,000 people joined the Shanghai Marathon. This year, the Half Marathon race will be canceled so that there will be more space to the whole marathon.
A 1100-square-meters wood craft studio opened in Beijing so that wood lovers can experience woodworking inside with specialized teachers, but also the exhibition of wooden tools, works and antiques, and people can also throw parties and communicate there.
6. Citizens of China, citizens of the world
The way Chinese consumers go abroad has gone beyond sightseeing and global shopping. Today, wealthy Chinese consumers go abroad for medical examination, medical treatment and overseas insurance services. They send their children to study abroad to expand their overseas employment and business opportunities. They go abroad to watch sport games, performances and exhibitions. Many people are actively engaged in overseas real estate and overseas investment, and in opening a business abroad.
China's national power has become more prosperous, occupying an increasingly important place in the global economic pattern. The Internet companies represented by Alipay, WeChat, Didi and Ofo have been leading the world in technology and life style innovation. More and more firms have an international perspective and a sense of international responsibility. Therefore, Chinese consumers will also think in a much more global way and get ready to accept the status of "citizens of the world."
Since May 2016, the number of HNWIs with total assets over 10 million in mainland China was about 1.34 million, which is an increase of 130,000 (10,7%) over 2015. About half of Chinese HNWIs make overseas real estate investments their primary target. They have an average of 2.3 overseas properties and 15.6% of them own 4 or more overseas properties. (Source: Hurun Report Prospect of Overseas Chinese HNW Client in 2017)
China's bike-sharing brands are entering the international market, the Mobike has entered 12 countries in the world, Ofo already covered more than 180 cities in 20 countries.
7. Of China, from China
Chinese brand - the meaning of these words has undergone fundamental changes. With the fast development of Chinese brands in recent years, they have achieved a leap forward in product development, product quality and brand marketing, and have already possessed the strength to compete positively with international brands. Although economic globalization has always been the trend of world economic development, Chinese culture has always been fundamentally unique. This determines that Chinese consumers always have strong local characteristics in life and consumer demand. Therefore, without absolute barriers, the ability to understand and grasp the needs of Chinese consumers in depth will become one of the biggest advantages of the competition between local brands and international brands.
On 2017’s Double 11 Day, domestic brands reached more than 60% of the top 50 sellers. For example, the top ten maternal and infant brands, domestic brands occupy six spots. For example, PureCotton, YeehoO and other brands are domestic high-end maternal and infant brands that emerged in the late years, no matter in price or quality or brand awareness and credit among mothers, they don’t lose to international brand.
8. Time of people influencing people
With the decentralization of information broadcast, official communication channels are facing many challenges in timing and influence power. The customization of information is also a difficult task to meet the growing needs of the consumers. Consumers rely more on social networks to access information and are more willing to ask for advice through consumer-friendly online channels. The boom of social e-commerce, content marketing in public accounts, and even KOL and influencers endorsing a product… All of this are revealing to us an important trend: the consumption path has been folded, the age of people influencing people is here.
Hot Mums Plan (辣妈计划), is a social e-commerce service platform for mums. It helps mums open their own stores on WeChat, providing supplies, training, knowledge, etc. Currently the company has attracted almost 1,000 communities, and more than 150,000 members.
In 2017, Gome, a Chinese traditional home appliance retailer, launched the "Me shop," every user can open his or her own store on it with no cost, and recommend their favorite products to their friends and family. Each time a purchase by referral is completed, the store owner can get commission.
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