Table of Contents
Introduction
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- Definition
- Report structure
- Methodology
- Abbreviations
Executive Summary
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- The consumer
- The twentysomethings: Aspirations in the next five years
- The twentysomethings: Support from family members
- The twentysomethings: Everyday lifestyle activities
- The twentysomethings: Online activities
- The twentysomethings: Spending compared to last year
- The twentysomethings: Important factors influencing purchase decisions
- The twentysomethings: Attitudes towards their lives
- Key trends
- Key Issue: China’s twentysomethings are a diverse group of consumers
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- Figure 1: Target groups, November 2013
- Key Issue: Exploring leisure opportunities to help achieve study/work/life balance
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- Figure 2: Everyday lifestyle activities, November 2013
- Key Issue: Striking a balance between financial security and material wealth
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- Figure 3: Spending on financial products, by target groups, November 2013
- Key Issue: From collectivism to individualism: connecting the twentysomethings
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- Figure 4: Important factors influencing purchase decision, by target groups, November 2013
- What we think
The Twentysomethings – Aspirations in the Next Five Years
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- Key points
- Aspiring to a healthy lifestyle while advancing their career
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- Figure 5: Aspirations in the next five years, November 2013
- Women driven to advance their careers and travel more
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- Figure 6: Aspirations in the next five years, by gender, November 2013
- Singles in tier one cities are concerned with getting married or finding partners
- Men and those from lower tier cities aspire to upgrading/buying a new car
The Twentysomethings – Support from Family Members
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- Key points
- The twentysomethings are very much dependent on support from their parents or family members
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- Figure 7: Support from family members, November 2013
- It is common to have family members or parents help with babysitting…
- … some of them are staying with their families too
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- Figure 8: The current living situation of those who have child(ren) and have their family members help to look after their child(ren)/babies, November 2013
- Parents’ support for education costs
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- Figure 9: Current working/studying status, by monthly personal income, November 2013
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- Figure 10: Selected support from family members of students, by current working/studying status, November 2013
- The twentysomethings need wedding funding from their parents/family
The Twentysomethings – Everyday Lifestyle Activities
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- Key points
- Life generally revolves more around indoor activities
- Decrease in sporting activities is observed
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- Figure 11: Everyday lifestyle activities, November 2013
The Twentysomethings – Online Activities
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- Key points
- Online shopping shows a high level of popularity
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- Figure 12: China internet users, by age, July 2013
- Browsing online video, Weibo and social network sites
- Married twentysomethings, higher income earners and men are more keen on managing their finances online
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- Figure 13: Most frequently undertaken online activities in last three months, November 2013
- Variation by genders
The Twentysomethings – Spending Compared to Last Year
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- Key points
- Spending raises feelgood factors and benefits social, fashion and entertainment technology
- Saving culture amongst young adults
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- Figure 14: Spending, November 2013
- Twentysomethings men invest more in financial services
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- Figure 15: Spending more than a year ago, by gender, November 2013
The Twentysomethings – Important Factors Influencing Purchase Decisions
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- Key points
- Value, quality and suitability of the product benefits are the top influencing purchase factors
- Information from the internet also plays a role in making purchase decisions
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- Figure 16: Important factors that influence purchase decisions, November 2013
The Twentysomethings – General Attitude towards Their Lives
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- Key points
- Financial planning is regarded as the source of a comfortable life
- Apart from wealth, relationships with families and friends are important
- It is important to be recognised as an individual
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- Figure 17: Attitude statements – any agree, November 2013
Key Issue – China’s Twentysomethings are a Diverse Group of Consumers
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- Key points
- Demographic profiles and attitudes towards life across the five segment groups
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- Figure 18: Target groups, November 2013
- The Sophisticated
- Minimal financial support needed from family/parents
- Diminished concerns about their future and pressures from peers
- Willing to indulge themselves
- Wealth-seeker
- Relying heavily on parent/family’s financial support
- The group worries about their future and feels the pressure the most
- Traditionalist
- Low priority on unnecessary spending reduces their financial dependency on their family/parents
- Less worried about their future
- Conformists
- Heavy dependency on elder family members and lack of own stand…
- … yet recognise the importance of financial management
- Half-hearted
- Emerging adulthood
- Exploring their aspirations
- What does it mean?
Key Issue – Exploring Leisure Opportunities to Help Achieve a Better Study/Work/Life Balance
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- Key points
- The twentysomethings are concerned with their health condition
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- Figure 19: General health situation over last 12 months, by age, November 2012
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- Figure 20: Health conditions, by age, November 2012
- Twentysomethings need to be proactively involved in activities to overcome stress
- Most of the twentysomethings’ lifestyle activities are limited
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- Figure 21: Everyday lifestyle activities, November 2013
- Expanding social circle through offline activities
- Encouraging the twentysomethings to exercise more
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- Figure 22: Change in frequency of doing each activity, by general health situation over last 12 months, November 2012
- Figure 23: Everyday lifestyle activities – sports or exercises, by monthly personal income group, November 2013
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- Figure 24: Everyday lifestyle activities – Sports or exercises, by target group, November 2013
- Inspire the twentysomethings to venture into outdoor back-to-nature adventure activities
- Twentysomethings’ tourism on the rise
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- Figure 25: Everyday lifestyle activities – Travelling, by target group, November 2013
- Semi or fully independent travelling
- What does it mean?
Key Issue – Striking a Balance between Financial Security and Material Wealth
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- Key points
- Regardless of personality type, thoughts about the future are not so positive
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- Figure 26: Selected attitude statements, by selected demographics, November 2013
- Different approaches in terms of financial management and spending
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- Figure 27: Spending compared to last year of Sophisticated and Wealth-seeker groups, by spending more and about the same, November 2013
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- Figure 28: Spending compared to last year of Traditionalist, Conformist and Half-hearted groups, by spending more and about the same, November 2013
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- Figure 29: Ways to achieve savings goals, by age, November 2013
- Sophisticated and Wealth-seeker consumers are willing and able to put more money into investments and savings
- Financial education needed for Traditionalist, Conformist and Half-hearted twentysomethings
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- Figure 30: Spending on financial products, by target groups, November 2013
- Capitalising on the short-term and long-term financial needs of the twentysomethings
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- Figure 31: Reasons for saving/investing, by age, November 2013
- Emotional communication to target the twentysomethings’ financial needs
- Making financial products more easily accessible to the twentysomethings
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- Figure 32: Savings/investments currently have or plan to have in next 12 months, November 2013
- Figure 33: Selected attitudes towards savings, by age, November 2013
- Online convenient channel for financial products to reach the twentysomethings
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- Figure 34: Most frequently undertaken online activities in last three months, by demographics, November 2013
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- Figure 35: Most frequently undertaken online activities in last three months – “Managing my finances online”, by target groups, November 2013
- Smartphone app banking trend targeting the tech-savvy twentysomethings
- What does it mean?
Key Issue – From Collectivism to Individualism – Connecting the Twentysomethings
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- Key points
- The conformity and individualism of the twentysomethings
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- Figure 36: Attitude statements, by gender and monthly personal income group, November 2013
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- Figure 37: Attitude statements, by target group, November 2013
- Connecting to those twentysomethings who are married and have become parents
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- Figure 38: Personality attitude statements, by marital status and children in the household, November 2013
- Awakening sense of self: focus on own needs and being unique…
- … hence there are different key purchase traits among the twentysomethings
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- Figure 39: Important factors influencing purchase decision, by target groups, November 2013
- Brands redefine their identities to target the twentysomethings
- VANCL: individualism can be affordable
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- Figure 40: Shoppers at branded online-only clothing retailers by brand, by age, October 2012
- Lenovo ThinkPad campaigns: Think differently, perform distinctively
- Preferred social media usage across the twentysomethings
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- Figure 41: Most frequently undertaken online activities in last three months, by target groups, November 2013
- Closing the interaction gaps between the brands and the twentysomethings
- What does it mean?
Appendix – Aspirations in the Next five Years
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- Figure 42: Aspirations in the next five years, November 2013
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- Figure 43: Most popular aspiration in the next five years, by demographics, November 2013
- Figure 44: Next most popular aspiration in the next five years, by demographics, November 2013
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- Figure 45: Other aspiration in the next five years, by demographics, November 2013
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Appendix – Support from family members
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- Figure 46: Support from family members, November 2013
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- Figure 47: Most popular support from family members, by demographics, November 2013
- Figure 48: Next most popular support from family members, by demographics, November 2013
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- Figure 49: Other support from family members, by demographics, November 2013
- Repertoire
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- Figure 50: Repertoire of support from family members, November 2013
- Figure 51: Repertoire of support from family members, by demographics, November 2013
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Appendix – Everyday Lifestyle Activities Compared to Last Year
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- Figure 52: Everyday lifestyle activities, November 2013
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- Figure 53: Everyday lifestyle activities – Studying*, by demographics, November 2013
- Figure 54: Everyday lifestyle activities – Eating out, by demographics, November 2013
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- Figure 55: Everyday lifestyle activities – Shopping, by demographics, November 2013
- Figure 56: Everyday lifestyle activities – Sports or exercises, by demographics, November 2013
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- Figure 57: Everyday lifestyle activities – Having nights out, by demographics, November 2013
- Figure 58: Everyday lifestyle activities – Going to the cinema, by demographics, November 2013
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- Figure 59: Everyday lifestyle activities – Going to live shows/sport events, by demographics, November 2013
- Figure 60: Everyday lifestyle activities – Travelling, by demographics, November 2013
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- Figure 61: Everyday lifestyle activities – Spending time with friends, by demographics, November 2013
- Figure 62: Everyday lifestyle activities – Surfing the internet, by demographics, November 2013
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- Figure 63: Everyday lifestyle activities – Watching TV series, by demographics, November 2013
- Figure 64: Everyday lifestyle activities – Watching entertainment programmes, by demographics, November 2013
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- Figure 65: Everyday lifestyle activities – Developing my hobbies, by demographics, November 2013
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Appendix – Spending Compared to Last Year
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- Figure 66: Spending, November 2013
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- Figure 67: Spending – Rent*, by demographics, November 2013
- Figure 68: Spending – Utility bills, by demographics, November 2013
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- Figure 69: Spending – Everyday household groceries, by demographics, November 2013
- Figure 70: Spending – Education**, by demographics, November 2013
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- Figure 71: Spending – Dining out, by demographics, November 2013
- Figure 72: Spending – Fashion items, by demographics, November 2013
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- Figure 73: Spending – Beauty and personal care items, by demographics, November 2013
- Figure 74: Spending – Books/DVDs/CDs, by demographics, November 2013
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- Figure 75: Spending – Digital games, by demographics, November 2013
- Figure 76: Spending – Technology devices, by demographics, November 2013
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- Figure 77: Spending – Household appliances, by demographics, November 2013
- Figure 78: Spending – Socialising cost, by demographics, November 2013
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- Figure 79: Spending – Saving money, by demographics, November 2013
- Figure 80: Spending – Paying off financial instalment, by demographics, November 2013
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- Figure 81: Spending – Investments, by demographics, November 2013
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Appendix – Online Activities
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- Figure 82: Most frequently undertaken online activities in last three months, November 2013
- Figure 83: Most frequently undertaken online activities in last three months, by demographics, November 2013
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- Figure 84: Next most frequently undertaken online activities in last three months, by demographics, November 2013
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Appendix – Important Factors Influencing Purchase Decisions
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- Figure 85: Important factors influencing purchase decision, November 2013
- Figure 86: Most popular important factors influencing purchase decision – Rank 1, by demographics, November 2013
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- Figure 87: Next most popular important factors influencing purchase decision – Rank 1, by demographics, November 2013
- Figure 88: Most popular important factors influencing purchase decision – Rank 2, by demographics, November 2013
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- Figure 89: Next most popular important factors influencing purchase decision – Rank 2, by demographics, November 2013
- Figure 90: Most popular important factors influencing purchase decision – Rank 3, by demographics, November 2013
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- Figure 91: Next most popular important factors influencing purchase decision – Rank 3, by demographics, November 2013
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Appendix – General Attitudes towards Their Lives
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- Figure 92: Attitude statements, November 2013
- Figure 93: Agreement with the statement ‘I worry about my future’, by demographics, November 2013
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- Figure 94: Agreement with the statement ‘A life without my parents’ support would be difficult for me’, by demographics, November 2013
- Figure 95: Agreement with the statement ‘The success of people around me makes me feel great pressure to also be successful’, by demographics, November 2013
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- Figure 96: Agreement with the statement ‘Having a happy family life is more important than having a successful career’, by demographics, November 2013
- Figure 97: Agreement with the statement ‘Balancing work/study and my personal life is very important for me’, by demographics, November 2013
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- Figure 98: Agreement with the statement ‘Managing your finances is very important for having a comfortable life’, by demographics, November 2013
- Figure 99: Agreement with the statement ‘It is worth investing time/money in being pampered’, by demographics, November 2013
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- Figure 100: Agreement with the statement ‘Having an active social life is very important to me’, by demographics, November 2013
- Figure 101: Agreement with the statement ‘It is important to live your life in your own way rather than being influenced by others’, by demographics, November 2013
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- Figure 102: Agreement with the statement ‘I would like to be the first in trying new things’, by demographics, November 2013
- Figure 103: Agreement with the statement ‘I would like to stick to my own opinion rather than following others’ when it comes to important decisions’, by demographics, November 2013
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- Figure 104: Agreement with the statement ‘Being unique is important for me’, by demographics, November 2013
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Further Analysis
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- Figure 105: Target groups, November 2013
- Figure 106: Target groups, by demographics, November 2013
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- Figure 107: Aspirations in the next five years, by target groups, November 2013
- Figure 108: Support from family members, by target groups, November 2013
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- Figure 109: Everyday lifestyle activities, by target groups, November 2013
- Figure 110: Spending, by target groups, November 2013
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- Figure 111: Important factors influencing purchase decision, by target groups, November 2013
- Figure 112: Most frequently undertaken online activities in last three months, by target groups, November 2013
- Figure 113: Attitude statements, by target groups, November 2013
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