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UNDERSTANDING CHINESE MILLENNIALS

OCTOBER, 2015

Daxue香港上海北京

Consulting



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



In China, more than in most other places, there’s a massive gap between millennials and their parents.



THREE INSIGHTS ON WHY CHINESE MILLENNIALS ARECHANGING THE CONSUMER SECTOR



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



SPOTLIGHT


They spend more on high quality goods & services

35%Chinese millennials should

contribute 35% to the county’s total

consumption by 2020



SPOTLIGHT


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



UNDERSTANDINGCHINESE MILLENNIALS



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.

“



CHINA’S MILLENNIALS GREW UP DURING THE YEARS OF DOUBLE-DIGIT GROWTH



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%.



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.

“



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.

“



About usDaxue Consulting is a market research

company dedicated to providing the

best specially tailored, high-quality,

customer-specific data in one of

the most challenging markets in the

world; China. We leverage our unique

network of university organizations

and professors, business associates,

industry experts and foreign and local

consultants to find the information you

need efficiently, reliably and in a manner

that addresses your specific needs.

We excel because we’re reliable,

resourceful and flexible, everything

that the Chinese market demands.

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