New youth lead new consumption: love to "fight" cost-effectiveness and follow the wave of new national trends
Beijing Normal University released the "2021 New Youth Fashion Consumption Trend Development Report", nearly 70% of which considers cost performance first; Pinduoduo has become the preferred cost-effective platform for fashion consumption
Consumption tends to be more rational, focusing on digital transformation products, and loving the new style of the country. The young people are leading the new trend of online shopping with new consumption concepts.
At the "New Youth Fashion Consumption Trend Development" seminar held a few days ago, the research team of Beijing Normal University released the "2021 New Youth Fashion Consumption Trend Development Report" (referred to as the "Report").
The report believes that the new youth group has become the main force of fashion consumption, showing greater "explosive power" and development potential in a variety of fashion consumption scenes, and Pinduoduo has become the preferred cost-effective platform for fashion consumers. Domestic and foreign fashion brands on the platform have been newly developed. Favored by young consumers.
The research on the new consumption ideas of the new youth in the report aroused heated discussions among the participating experts.
Experts believe that new youths chase fashion elements, influence fashion attitudes, and then empower fashion products or brands.
The rise of the new national wave of consumption is also a manifestation of the self-identity and national identity of the new youth.
Nearly 70% of new youth value cost-effectiveness
To study the consumption patterns of new youth groups, including attitudes towards fashion consumption, "in a sense, like a human nose, one can keenly feel a change in the external environment."
At the seminar, Li Biao, director of the Institute of Public Opinion, Renmin University of China, said that consumer behavior and consumption phenomena have the most intuitive and significant indicative role in the overall social and economic development.
Research data shows that 21% of new youths shop online every day, and 62% of the population said that their willingness to buy online will increase in the future. Nearly 70% of new youth fashion consumers consider cost-effective factors when shopping.
The research team of Beijing Normal University believes that young consumers tend to be more rational when they consume, and show-off consumption behaviors have decreased.
Among them, in the field of digital 3C, high-performance and cost-effective configuration is the direction pursued by more young consumers.
The report uses Pinduoduo’s 10 billion subsidy channel in 2021 to launch the "RTX series of new notebook products" campaign as an example. On the day of the event, an official subsidy of up to 1,000 yuan is provided. Spread the enthusiasm of RTX3070 and RTX3060 gaming notebooks from many brands such as Mechanical Revolution and Shenzhou to attract consumers' enthusiasm.
Chen Chen, a researcher at the New Consumer Research Institute of Pinduoduo, said, “In the tens of billions of subsidies channel, Pinduoduo has joined hands with many brands to promote sales, and implement direct consumption subsidies for branded products with high market attention, good sales, and good consumer feedback. , Make a substantial profit, let consumers really feel the benefits, this is also the main reason why young consumers recognize Baibu products."
Consumption is not going to be done, and quality is carefully calculated; shopping is social, and I am happy to share strategies with friends.
Yu Guoming, a professor at the School of Journalism and Communication of Beijing Normal University, said that the "New Youth" series of research reports is a three-dimensional study of specific groups by the research team of Beijing Normal University. An analytical perspective.
Digitalization of national tides is the trend
With the cross-border collision of IP, artists, different industries or brands, traditional products are constantly being injected with fresh elements, bringing new and young consumers a variety of emotional experiences such as value recognition and nostalgia.
According to Ding Hanqing, deputy dean of the School of Journalism and Communication of Beijing Normal University, new youths chase fashion elements, influence fashion attitudes, and then empower fashion products or brands.
The new style of the country has become a favorite of post-95s and post-00s consumers.
On the Pinduoduo platform, the new youths have their own "new ideas for the national tide".
The report shows that in the first half of 2020, original Hanfu has the fastest growth in the niche apparel category of Pinduoduo platform, with a year-on-year increase of 30 times.
Under the leadership of the new e-commerce platform, Hanfu has developed into a circle culture, which is gradually compatible and popularized in all tier cities, and there is a trend of development to regular clothes.
In the fashion model of new consumption of new youth, domestic brands are also rising strongly.
According to data from Pinduoduo, domestic brands such as Hongxing Erke, Huili, Yuanqi Forest and Shanghai Jahwa have been shortlisted as the most popular brands among new young consumers on the platform.
During the 11.11 promotion of Pinduoduo in 2021, the platform will also tilt traffic and tens of billions of subsidy channel resources to new domestic brands. In the future, it will continue to help traditional domestic brands renew and the rise of new domestic brands.
At the same time, the epidemic catalyzed the digital transformation of the fashion industry.
Watching shows in the cloud and visiting exhibitions live online have become new ways for new youth to consume.
In March 2020, 7 top museums in the world, including the Metropolitan Museum of Art, launched an online live broadcast on Pinduoduo, selling nearly a thousand kinds of museum features and surroundings.
The 2021 Shanghai Book Fair offline exhibition was postponed due to the epidemic, but readers can enjoy the good books of 2021 recommended by the Shanghai Book Fair at the end of the year-end reading week of the "Duo Duo Reading Month" on the cloud, and travel around the spiritual home.
"Pinduoduo platform will continue to create digital activities, launch cross-border co-branding and diversified products to meet the diverse needs of new young consumers." Chen Chen said.
Liu Dehuan, deputy dean of the School of New Media, Peking University, believes that the fashion consumption of young people can be summed up in seven "izations", namely, life-oriented, individualized, national trendy, technological, socialized, empathetic, and digitized.
"The New National Wave is actually a manifestation of contemporary Chinese young people's re-understanding of their own culture and realization of self-identity and national identity."
Text/Qin Shengnan