The Value Empathy Analysis of Emerging Consumers in China

1. Value Empathy -- The Analysis of Emerging Consumers in China =

2. Overview Fashion is a social psychological phenomenon, and the study of consumer psychological behavior has a practical significance for fashion brands to win the market opportunities. We have identified four emerging consumption dynamics, including Streaking Youth, New Money Quotient Era, Rebirth of Intangible Cultural Heritage, and Nationwide UP. In recent years, more and more single aristocrats joint in the group of streaking youth. With a high income, they are an important consumer group. Due to the pandemic, household entertainment rises, resulting in the nationwide uploading short videos. As rational consumption continues to deeply influence consumers' shopping behavior, the new money quotient era has arrived. In recent years, the confidence of young people in national culture has been enhanced, and the protection of intangible cultural heritage has gradually attracted attention. Rebirth of Intangible Cultural Heritage emphasizes the preservation of traditional cultural heritage and the integration of modern aesthetics, so as to achieve the goal of inheriting and benefiting from intangible cultural heritage.

3. Streaking Youth

4. Streaking Youth People who earn over 10K RMB a month but have no house or car are called "streaking youth". They work in first-tier cities, and they love working, social activities and life. They live in apartments for single youth, which are convenient for transportation and social life.

5. Key Words Driven by consumption upgrading, consumers have shifted from functional consumption to emotional satisfaction consumption. Streaking youth does not consume for showing off or integrating into the community, but pursue exquisite and self-pleasing consumption, and advocate quality consumption. With a considerable income and a high-pressure working environment, streaking youth pays more attention to personal health management, so corresponding recreational lifestyle, such as fitness courses, health App, massage spas gain much attention. They are keen on stress relieving activities like shopping, social activities and games. They have a high TGI on overseas online shopping, games, social activities and beauty camera. Users with more than 4 game apps hold 52.9%, and on average they spend 10.2 days per month on beauty cameras. PS: TGI is Target Group Index, which can reflect the strengths or weaknesses of the target group in specific research areas (such as geographical regions, demographic field, media audience and product consumers). TGI = [proportion of groups with certain characteristics in the target group/proportion of groups with the same characteristics in the population]* 100.

6. Prospect

7. Prospect Streaking Youth emphasizes a high-quality life and exquisite aesthetics, mixing life with art. Reports show that young consumers (post-80s and -90s) are more receptive to leisure-luxe brands, and they, especially the post-90s, contribute to 18%-20% of global luxury consumption. Attracted by the huge market, leisure-luxe brands are expanding in China. Ba&Sh from French and Italian brand Furla begin ta move into second-tier and third-tier cities, while brands like Sandro and Maje are sold at e- commerce platforms like Tmall. As the lipstick effect emerges, small and beautiful items such as cost-effective accessories get popular.

8. New Money Quotient Era With macro economy develops to micro wealth accumulation, Money Quotient is no longer a measurement for the ability of investment and financial management, but also for the reasonable consumption ability, that is, living a better life with less money. The new Money Quotient era emphasizes the rationality of consumption.

9. Key Words In the era of new Money Quotient, people advocate utilitarianism and rational consumption. Traditional consumers believe that saving is earning and tend to buy the cheapest products and services. Consumers of new Money Quotient insist on actual needs first. Product and service quality accounts for 42.90% to influence consumption decisions, and special offer takes up 45.85%. Consumers will fully and comprehensively compare business information through the life service platform, and participate in coupon and group-buying activities in order to get better service, instead of blindly stocking up for a bargain.

10. Prospect

11. Prospect After the breakout of COVID-19 panic mood spreads and rational consumption emerges for all customers. Consumer groups vary in positioning. Celebrate utilitarianism and oppose maximalist consumerism. Enterprises, brands and designers optimize cost performance during supply chain, marketing and product development process. Wardrobe.NYC features minimalist basics, both easy-to-wear and time-tested.

12. Rebirth of Intangible Cultural Heritage A group of youth who love traditional cultures are good at injecting practicality, aesthetics and social values into intangible cultural heritage has achieved profit, inheritance, protection, innovation and development.

13. Key Words As China attaches more and more importance to the protection of intangible cultural heritage and contemporary youth has a remarkable sense of responsibility for the protection of traditional culture, the intangible cultural heritage has gained many youth fans. Culture celebration becomes a new tradition for youth who protects intangible cultural heritage. Modern commercial mode makes the sales continuously expand and relevant stores increase sharply, so intangible cultural heritage gets passed down. Chinese fashion elements in their stores include not only clothing, but also various handicrafts such as lacquerware, snuff bottle and batik, which are warmly welcomed.

14. Prospect

15. Prospect With the development of information technology, the inheritance and dissemination of intangible cultural heritage are strengthened. Dunhuang Academy works with Tencent Animation and Comics for Dunhuang Cartoon series, activating the wall paintings with high tech. The spirit conveyed in the cultures influences modern trends. These years, many brands collaborate cultural IP with international fashion. Fashion is a good container for intangible cultural heritage, displaying profound cultural deposits through classic fabrics, retro colors and traditional crafts.

16. Nationwide UP UP is the abbreviation of "upload". nationwide UP refers to the fact that people upload short videos. With the development of video tech and entertaining environment, everyone can upload videos with simple hardware (e.g. mobile phone) and software for entertainment or profit.

17. Key Words Under the background of new media, short videos prevail and the era of nationwide UP is around the corner. People want to make friends through their hobbies, build their own community with their own language and logic, and share with each other through short videos. Therefore platforms such as Bilibili, Tik Tok and Kuaishou emerge, so that people can upload short videos anytime and anywhere and users have changed from traditional video viewers to producers and consumers of short videos.

18. Prospect

19. Prospect Short video economy gains momentum. Research shows that videos of 1-3 minutes are most beloved, and their clicking rate and viewing rate are the highest. Short videos are very different from traditional films,featuring post-modern aesthetics which mix daily life with arts. Things in our life are symbolized and materialized, but video clips of free creation break stereotypes as non-professional creators underline playfulness. Post-modern aesthetics continue to influence trends. As casual decorative aesthetics rise, irregular elements like asymmetric splicing and deconstruction are favored by emerging designers.