Chinese youth wear traditional Chinese costumes (Photo/China News Service)
(ECNS) — China’s “Generation Z” has strong cultural confidence, and the Chinese culture is popular among them, which drives the Chinese fad economy, according to a report released by JD Research Institute for Consumption and Industrial Development on Thursday.
“Generation Z” refers to the population born between 1995 and 2009. Its population accounts for about one-fifth of the total in China, according to the country’s National Bureau of Statistics.
As “Generation Z” begin their career, they are increasingly becoming the backbone of consumption, the report said. Industries and brands are adjusting to the “Generation Z” in terms of product design, function realization, service and marketing.
“Generation Z” not only creates Chinese fad, but also guides the consumer market and injects vitality into industrial upgrading and technological innovation.
Over 60 percent of the “Generation Z” respondents will consider Chinese domestic brands first rather than foreign brands. Their favorite Chinese elements include Chinese Red, ink, the Forbidden City, Chinese myths, and classic IP, said the report.
According to the report, “Generation Z” is unwilling to be mediocre, rather, they are confident and independent, and many Chinese-fad products fit their values.
According to JD, the sales of “Chinese Red” elements purchased by ” Generation Z” have increased by 326 percent since 2022. The best-sellers are health care products, liquor, clothing and underwear, mobile phones, and tea.
“Generation Z” also prefers regimens, according to the report. They drives consumption in the health care industry, beauty products, anti-aging products and more.
The integration of Chinese fad and traditional culture presents new cultural connotations for brands, which is attractive to “Generation Z”, Shen Hongbing, a professor at Chongqing Technology and Business University, told China News Service.
“Generation Z” represents the most dynamic and diverse side of China’s consumer market, showing the broad potential and strong momentum of China’s economy, he added.
With the improvement of the consumption capacity of “Generation Z”, a new hot spot system around this group is being built, which will bring great drivers to the Chinese consumer market.