CNBC AI News – July 2nd: Tech mogul Zhou Hongyi has taken to Weibo to highlight a significant shift in consumer behavior, particularly among the younger generation. He asserts that Gen Z is no longer driven by purely functional purchases but is instead a demographic defined by attitude, aesthetic appreciation, and discerning choices.
Zhou Hongyi emphasized that young consumers’ spending power is pouring into ten emerging trends, with phenomena like Pop Mart and Labubu figures being just the tip of the iceberg. Understanding these burgeoning markets, he suggests, is key to identifying future profit opportunities.
“Good Goods” Economy (谷子经济): This is a colloquial term adopted by the Gen Z anime and gaming community, referring to merchandise derived from IPs in anime, gaming, and film. Think figurines, badges, keychains, and trading cards. The core appeal here lies in satisfying emotional needs and fostering a sense of collection. For a well-managed IP, merchandise sales can even surpass revenue from the content itself.
Self-Indulgence Economy (悦己经济): Gen Z firmly embraces the philosophy of “money can’t buy happiness, but it can buy comfort.” They are willing to spend on non-essential items that provide emotional value, such as premium coffee, upscale afternoon teas, stickers, and candles. For businesses, this means not only excelling in product quality but also imbuing every customer touchpoint with emotional resonance, a strategy exemplified by the success of Disney.
Single-Person Economy (单身经济): Singledom is increasingly viewed as a lifestyle choice, leading to a rise in consumption patterns catering to individuals. This includes solo dining, movie outings, travel, and purchasing compact, user-friendly smart home appliances. The market has responded with niche offerings like single-portion restaurants and specialized small appliances, presenting a promising avenue for entrepreneurs in lifestyle services and emotional products.
Value-Conscious Spending (平民经济): This generation operates on a “save where you can, splurge where you must” principle. They are adept at leveraging group buying platforms and second-hand marketplaces to find deals, yet they remain ready to make decisive purchases when something truly appeals to them. Businesses aiming to capture this market need to strike a balance between providing exceptional value and delivering on emotional fulfillment.
Pet Economy (宠物经济): Young people increasingly view their pets as cherished family members, willingly investing in their well-being and specialized services. Opportunities abound in areas such as pet nutrition, customized pet food, photography, training, smart pet accessories, and tailored concierge services. The more personalized and refined the service, the higher the customer loyalty.
Holistic Wellness Economy (大健康经济): Gen Z is more focused on “holistic wellness” than traditional “big health” maintenance. This often manifests in a dual approach: staying up late while simultaneously investing in products like foot soak tubs and supplements. They are particularly drawn to stylish, well-designed functional beverages, wellness gadgets, and personalized health management services. Start-ups can explore functional foods, fitness class apps, and smart devices like massage guns.
Convenience Economy (懒人经济): The perceived “laziness” of this generation is less about idleness and more about a prioritization of efficiency. They are willing to pay for services and products that save them time and effort, such as food delivery, on-demand housekeeping, moving services, and smart appliances. The key differentiators in this sector are seamless user experience design, service standardization, and operational efficiency, often with relatively low barriers to entry.
Therapeutic Economy (疗愈经济): Facing pressures from social anxieties, workplace stress, and the intensity of modern life, young people are actively seeking ways to unwind and heal. This translates to spending on experiences like hot springs, massages, aromatherapy, meditation classes, and psychological assessments. Entrepreneurial ventures can focus on audio products, emotional support apps, niche handicrafts, and online psychological coaching.
Growth Economy (成长经济): This generation is keen on investing in tangible personal development that can yield financial returns. They readily enroll in online courses for skills like video editing, writing, and side-hustle creation, all geared towards increasing earning potential. This sector presents a vast landscape of opportunities in knowledge-based services, as people increasingly prioritize practical skills for monetization over mere academic credentials.
Entertainment Economy (文娱经济): The spending power of this demographic in the entertainment sector is substantial. The immense popularity of blind boxes, concerts, role-playing games (剧本杀), offline exhibitions, IP-related merchandise, and brands like Pop Mart stems from their ability to imbue consumption with a sense of ritual and potential investment value – akin to hitting the jackpot when unboxing a rare blind box figure. Entertainment consumption is highly personalized; success lies in telling stories resonant with their desires and offering engaging participation.
Each purchase made by Gen Z holds significant value, either for emotional gratification or the enhancement of their quality of life.
They are not bound by the functional consumption patterns of older generations, demonstrating a clear sense of attitude, aesthetic preference, and intentionality in their spending.
As this generation solidifies its position as the primary consumer force, the market landscape must adapt accordingly.
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/3844.html
