chinese millennials in china | daxue consulting
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UNDERSTANDING CHINESE MILLENNIALS
OCTOBER, 2015
Daxue香港 上海 北京
Consulting
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TABLE OF CONTENTS1.0 SPOTLIGHT
• Three insights on why chinese millennials
are changing the consumer sector
2.0 UNDERSTANDING CHINESE MILLENNIALS
• Understanding China’s millennial youth
• Chinese millennials: the new big spenders
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In China, more than in most other places, there’s a massive gap between millennials and their parents.
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THREE INSIGHTS ON WHY CHINESE MILLENNIALS ARECHANGING THE CONSUMER SECTOR
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SPOTLIGHT
Why are Chinese millennials changing the consumer sector?
56.7%have a bachelor
degree
23%have a master’s
degree
20.3%have an associate
degree
They are better educated & Internet-savvy
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SPOTLIGHT
Why are Chinese millennials changing the consumer sector?
They spend more on high quality goods & services
35%Chinese millennials should
contribute 35% to the county’s total
consumption by 2020
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SPOTLIGHT
Why are Chinese millennials changing the consumer sector?
They are having a profound impact on global consumption
Online advertising has a key role
to play in enabling brands to reach
& engage with Chinese millennials
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UNDERSTANDINGCHINESE MILLENNIALS
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Understanding China’s millennial youth
Chinese millennials do not have the same
behavior as the typical western millennial you’ve
currently read about in articles. China has its own
rules in term of culture, politics and the economy.
Chinese millennials are well educated; 56.7% have
a bachelor degree, 23% with masters and 20.3%
an associate degree. However, unlike the West,
40% of Chinese millennials work in government
and state organization. Almost half (42%) of them
have monthly revenue between 3000 and 5999
RMB (471 to 941 USD), and 20% between 6000
and 9999 RMB (471 to 1570 USD).
Chinese millennials are changing the consumer sector.
“
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CHINA’S MILLENNIALS GREW UP DURING THE YEARS OF DOUBLE-DIGIT GROWTH
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Chinese millennials: the new big spenders
Unlike older generations, Chinese millennials
do not save as much. In comparison to the
younger generations of the USA and France
who spend 6.6% and 12.2% respectively on food,
Chinese millennials eclipse this at a vast 25.9%
of their revenue in food. In spite of this, Chinese
millennials spend the majority of their money
on clothes, shoes and beauty care. In the past
few years many of the fashion industries largest
companies have located to China, influencing a
strong influence in fashion amongst the younger
generation.
Chinese millennials’ digital habits are very different
than from the West. The Internet came available
much later, as did video games, social networks
etc. The main discussions on social networks are
entertainment and tech related topics. What’s
also striking is that the gap between China’s elder
people and millennials is much wider than in other
countries. For example, in China 55+ years old
represents 2% of social network users, whilst the
US accounts for 9%.
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More than half (55.2%) of WeChat users open
this app more than 10 times a day, resulting in
greater connection between Chinese millennials’
than westerners. By comparing the time spent on
each media outlet per day we can see they spend
more time on the Internet than on magazines,
newspapers, radio and TV combined.
A huge amount of this time is spent on mobile
phones every day during the school and work
commute. On average, Chinese millennials’
spend 55 minutes (one way) to go to the office in
China (longest global time period).
Chinese millennials are already having a profound impact on globalconsumption.
“
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Chinese millennials are technologic power
users, who are very interested in fashion, have
more money than the former generations and
do not save as much.
They do not have the same approach to
advertising as westerners. When WeChat
launched their advertising program on their
platform, Chinese customers compared the
targeted ads with each other to see which one
had the “best”. Some were even reposting the ad
on their newsfeed to show their friends that had
been specifically targeted by luxurious brands,
illustrating their wealthy status.
Advertising has a key role to play in enabling brands to reach & engage with Chinese millennials.
“
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About usDaxue Consulting is a market research
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world; China. We leverage our unique
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