Double 11 highlights seven major consumer trends, and Z generation leads consumer spending

On November 14, 2017, Alibaba Research Institute and Peking University Guanghua School of Management jointly held the first "Look at China" peak discussion forum for the first time. At the meeting, representatives from all major domestic and foreign think tanks, first-class business schools, first-class consulting organizations, major global brands, e-commerce platforms, etc., on the new economic trends and the big future pattern presented by the Double 11 Collision, case analysis, data interpretation, experience communication, etc., create a shared understanding and insight into future business.

Yang Jian, deputy dean of the Alibaba Research Institute, released the report "Attack, Z Generation". According to the report, in 2017, the first generation of Z, who entered the main consumer age, showed strong spending power. The Z generation leads the new wave of consumption, enjoys in consumption, creates in consumption, grows in consumption, and purchases a unique and beautiful life belonging to the Z generation.

We analyzed the various stories that occurred in the Tmall's double eleven consumption scene and the various data that appeared in the consumption scene. We hope to see the future development of China's consumption through these data and the mining of these cases.

2017 double 11 seven consumer trends

First, clothing-dressing will be "mixed" to be fashionable. In the past, we used to think that we should be symmetrical, symmetrical, and reconciled. This year's Double Eleven showed a new vision: multi-color collisions brought new visual impact, and the number of searchers for “collision color” increased by 134%; creativity brought new definitions to folk embroidery, including "asymmetric folk embroidery" The purchase of elements has increased by 360%; the splicing elements have broken through the limitations of seasonal fabrics, and the number of "splicing" related products has increased by 110%.

Second, food - 5 minutes to get a full feast. The pace of consumer life is accelerating, and the demand for food is also accelerating: the number of "self-heating food" collections has soared 14 times, the search for semi-finished foods has increased by 61%, and the number of "immediate" bird's nest and other high-nutrition foods has increased by 87%.

Third, living - people are just right. One person or mini has become a significant trend. The transaction volume of "mini" household appliances specially created for single people has increased by 92%; no longer has to be wasted for large quantities. The search volume of "one person" products has increased by 190% compared with last year; The purchase of smart door locks increased by 446%.

Fourth, use - everyone is Virgo. Love has nothing to do with men and women, and the beauty of the United States has to be divided into men and women. The search volume of "men's make-up" products has increased by 157%; the professional program of oral cavity has allowed you to arm your tongue, and the number of searches for "tongue cleaner" has increased by 92%; Shoes go to yellow" After the white shoes became fashionable, the number of related purchases increased by 277%.

Fifth, the line - foot does not go out of the house to run kilometers. Space is no longer a limitation of sports. The search volume of "large" home sports equipment has increased by 147%; the silent burning of fat, "silent" has increased the number of people searching for sports categories by 74%; the large sports items are easily loaded into the cabinet. The number of purchases of "foldable" sports equipment increased by 106%

Sixth, entertainment - young, accompanied by cute pets. Consumers are willing to spend money on cats, dogs and dogs. Say goodbye to the loneliness of going out alone, the number of purchases of "pet travel" series products has increased by 239%; the number of "pet smart" related products has increased by 163% without being tired of shovel; the beauty can be more close, "pet grooming" The number of purchases of goods increased by 96%.

Seventh, Yu-Dabao Erbao, accompanied by growth. After the second-child policy was released, two children appeared in our consumer group. Many commodities were bought for two Dabao and two treasures. For example, with two out of the door is not too tired, the number of searchers for double carts increased by 83%.

Z generation shows strong purchasing power

This year's double 11, we pay special attention to a consumer group - Z generation. Generation Z refers to the Internet generation, generally referring to consumers born in 1995 and beyond.

The total population born in China from 1995 to 2016 was 378 million, accounting for about 27% of the total population. The Z generation grew up with the Internet, and their consumption behavior was very different from that of the 70s and 80s. In their eyes, after 80, 70, 60, they are old men.

Participating in this year's Double 11 Z generation, aged between 18 and 22, is probably in the high school or college stage, and younger consumers have not left the family. After we expanded the scope to 90, this group accounted for 43% of the consumption and 35% of the consumption.

We found an interesting phenomenon. In 2017, the average consumption amount of the consumption group of the 11th and 3rd generations is similar to that of other age groups. However, in the group of more than 20,000 yuan, the per capita consumption amount of the Z generation is the Y generation. 1.5 times.

Seven generations of Z consumer trends

Based on the Z generation's consumption and other data, we portrayed their seven major consumer trends:

First, create life. Z-generation consumption is not just to meet functional needs. They want to incorporate their emotions, preferences, and whimsy into their consumption, from a simple consumer to a product creation participant. Create, share and express in consumption, gain happiness and happiness. Oreo has launched a custom music box, consumers can customize the taste of biscuits, the pattern of music boxes, etc., greatly welcomed by the Z generation.

Second, the personality is true to me. The Z generation's perception of the self is - a unique ordinary person. Independent and individual products are popular with Generation Z. Through the tonal analysis of Taobao shop, tens of thousands of daily good shops have been screened out. Among them, the fans of Taobao Qiqi Creative Store accounted for 40% of the Z generation and only 17% of the Y generation.

Third, not alone. The highly personalized Z generation, the more diverse the population, the more difficult it is to identify with each other, it means a stronger sense of loneliness. One person eats and one person entertains. From January to October of 2017, the proportion of people watching movies by Z generation is 10% higher than that of Generation Y. The proportion of Z generations for take-away is 25% higher than that of Generation Y.

However, the Z generation is unique and not alone.

The Z generation has found a new social way - the circle of interest. Interest-based social methods are vastly different from Generation Y relationship-based social interactions. Take the second-hand trading app fish of Alibaba platform as an example. The trading products are scattered, and the prices are very different due to the different old and new levels and maintenance levels.

In the process of consumption, buyers need to conduct a lot of exploration, learn a lot of knowledge, communicate with buyers, and communicate with sellers. It is actually an interest + social consumption process. The number of posts in the Z-generation sharing shopping skills (interest circles) accounted for 50%.

Fourth, the value of justice. Z generations love the United States, regardless of gender. In 2017, the consumption of double 11 skin care cosmetics, Z generation accounted for 30%, higher than 28% of the Y generation. Men's make-up is a very difficult category for the Y generation. However, the 2017 double 11 and Z generation consumption growth rate is as high as 122%, which is 40% higher than that of men's skin care.

Fifth, the dual world. The pan-quaternary element is the unique spiritual consumption of the Z generation. The second-language terminology walks into the life from the network - Meng, to force. Taobao has a number of fans in the second-generation specialty stores, and Z generations accounted for 41%. 2017 double 11, anime T-shirt, pillow, COSPLAY clothing, accessories and other categories, Z generation consumption accounted for more than 1/3.

Sixth, entertainment is paramount. The Z generation does not need to be entertaining, but to be simple and happy, and to love the way and content of entertainment. Luhan Weibo fans have returned more than 100 million, creating a Guinness World Record. 2017 double 11, Taobao red store, Z generation consumption accounted for 30%.

Seventh, global enjoyment. The consumer vision of the Z generation is global. In 2017, the number of people who participated in Tmall International in the 11th and 11th generations increased by 117%, which is 2.8 times that of the Y generation.

The Z generation and the Y generation (post-80s), both young people, have huge differences due to different growth environments. Generation Y grew up in a period of relatively scarce material. Reform and opening up unleashed a great vitality for the country and provided a huge space for personal development. Therefore, the Y generation does not care about the present, and the individual's dream is pinned on the bright future of national development.

The Z generation has grown up in the dividend period of reform and opening up. The problem of food and clothing has been basically solved, the economic growth rate has slowed down, and the growth uncertainty is high. Therefore, the Z generation regards the construction of a small world of good daily life as a reflection of the meaning of dreams and life.

My child is also a generation Z, and I often worry about him. However, the Z generation is our hope and our sustenance. We believe that with the rise of the Z generation, the transformation of China's consumption will continue to go a step further. With the rise of China's Z generation, China's economy will usher in a better tomorrow.