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.
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.
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.
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.