Power of Youth: Post-90s generation drives China's consumption growth

World
Europe

02:49

As consumption continues to play a larger role in China's economic growth, the country's young shoppers have emerged as a key driving force. Born in the 1990s, the new generation is more willing to pay for products and services that promote their sense of individuality. Our reporter Wang Mengzhen, a post-90s consumer herself, finds out what's behind their changing tastes.

China's post-90s shopaholics are catching up with their older millennial friends. Lilian Li leads a white-collar lifestyle in Beijing. She is part of the new trend.

LILIAN LI POST-90S CONSUMER "Everyone has the vanity to buy luxuries, but I care more about whether the product or service represents who I am. So, I would like to buy things that show I have good taste, like certain stylish products."

And she is not alone, the feelings products bring are a top concern for many.

"Now I usually shop online. At brick and mortar stores, I prefer more of a spiritual experience, like reading at bookstores."

"I don't care much about brand awareness. I need the chemistry between me and the goods."

US data company Nielsen has released a portrait of the new generation and their ever-increasing purchasing power.

In the 4th quarter of 2018, 28 percent of China's internet users were those born in the 90s. Among all age groups, they placed highest in web use and willingness to spend. While the early 90s buy mostly necessities, the late 90s' babies, often called "post 95s" were avid technology consumers. They now focus more on personal development.

Amanda Zhao shares how she's becoming more a me-oriented shopper.

AMANDA ZHAO POST-90S CONSUMER "When I had just started to work, I was crazy about luxuries, but later on I found out they couldn't change my life in the long term, so I've gradually shifted my focus to self-care products and services, like registering for fitness courses at the gym."

Shopping malls like Joy City in Beijing are upgrading their services to woo these young shoppers.

ZHENG ZHENG ASSISTANT GENERAL MANAGER, CHAOYANG JOY CITY "We are now creating community culture-based spaces to meet their diverse demands, like this one integrating bookstores, galleries, cafes, and fitness clubs altogether and we found customers who come to the space spend 90% more time than the average shopping mall guest."

WANG MENGZHEN BEIJING "Experts say authorities have made many efforts to maintain the purchasing power for these young people, including the latest tax and fee cuts as well as measures to further boost employment and entrepreneurship. WANG MENGZHEN, CGTN, BEIJING."