Under the new wave of consumption, fast-moving consumer goods such as HEYTEA, Bubble Mart, and Huaxizi have swept young people, and at the same time emptied their wallets. As this trend passed, the minds of young people gradually calmed down. This makes it impossible for merchants to use the abacus of young people's shopping desires. Losing the special database market of young people means that products that are too expensive will usher in a "cooling-off period". Many hot new consumer brands can only be short-lived, and investment in new consumer fields will also be cold.
The new consumer market, with young people as the main target group, will have to face the dilemma of being too small. Because young people are now facing a series of problems such as corporate layoffs, soaring prices, and buying houses and land, at this time, for young people, consumption is no longer a pastime, but a burden. Baidu search big special database data shows that the consumption-related trends of young people in 2020 have changed significantly. Advance consumption searches have dropped by 26%, shopping has dropped by 33%, offline entertainment has dropped by 43%, and fast food delivery has dropped by 7%. It is clear that the new consumer sector is gradually losing young people.
Burst the "bubble" In the context of the downturn in the economic situation, the consumption tendency of young people has changed and is becoming more rational and "moderate". In May 2021, CCTV Finance and the "China Economic special database Life Survey" released the "2019-2020 China Youth Consumption Report", of which the top three young people's consumption in 2020 are education and training, housing and health care, respectively. Accounting for 32.44%, 31.53%, 26.11%. At the same time, according to Baidu search data, the search interest for savings and wealth management rose by 46%.