Generation Y or Millenials aged between 18 to 35 years corresponding to 385 million people who is the second world economy.
While China’s economic growth has slowed in recent years, it still remains above 6%.
As growth continues and the country’s economy becomes an even stronger force on the international market, Chinese Y generation has an influence not only on China but also on the world as a whole.
Rethink your marketing strategy for Chinese New Generation
Any brand that wants to make its way into the Chinese market will realize that it must completely rethink its marketing strategy to which it is accustomed. This is especially true for foreign brands that set up shop in China.
- One of the biggest dangers in terms of Marketing for companies in China is to poorly analyze the trends and needs of the boomers (GENERATION Y)
The speed of change, unprecedented in China’s economic development and digital transformation over the past three decades, means that Generation Y lifestyles have little resemblance to those of their parents and grandparents.
Focus on the New Chinese Generation
Generation Y has grown in full swing with technology, with the best and latest outbound gadgets on the market. Moreover, they have not suffered economic crises that they can remember, which makes them different consumers.
On the other hand, Generation Y grew up in a world accustomed to the nuanced interaction of opposing ideas:
- The tradition against modernity,
- The control against opening,
- Individuality and community.
The rise of basic startups, particularly in the field of technology, is a defining trend among Chinese youth.
There are currently more than 10,000 new companies launched every day, according to “China Daily – about seven startups every minute.”
- A survey conducted by JWT Intelligence reveals an entrepreneurial spirit focused on practical needs:
- 74% of Generation Y said they would choose to start their own business if they had trouble finding work.
As employees, Generation Y wants financial stability to bring about personal fulfillment.
- 97% of the Chinese generation Y prefer to work for companies whose values are similar to those of their own country according to “a survey conducted by Brunswick”
- 60% strongly agree that the companies they support most are those who share their values.
According to “Goldman Sachs statistics”:
28% of graduates in China change jobs during the first three months of graduation against only 4% in the United States for example.
“The Chinese generation Y brings new perspectives to work and yet have no collaborative skills or even respect for traditional norms, “
“The culture of this generation has grown to discredit hierarchy and promote individual talents.” Said Ziqing Chen.
“The new generation of Chinese aspire to Higher Expectation and have higher education, in International School or Universities abroad.” explained Mr Zhang, director of Education division in Shanghai
Photo of Wellington College international in Shanghai.
The number of Chinese graduates has increased in recent years, while suitable employment opportunities in China are not keeping pace.
Last summer, 7.7 million graduates from Chinese universities entered the labor market amid an economic slowdown and increased competition for employment.
THE CONCERNS OF THE NEW CHINESE GENERATION
Generation Y is concerned about:
- The pollution of the environment
- Food Safety Healthcare
- Income inequality
- Equality between the sexes
- The inclusion of LGBT (an initialism that represents lesbians, gay, bisexual and transgender)
Raising awareness of social issues in Chinese circles, reinforced by digital media and connectivity, influences their attitudes toward community service and philanthropy.
Generation Y becomes more sensitive to social problems and is more likely to build their lives by contributing more actively to society.
She is also interested in the latest trends in fashion, entertainment and culture worldwide.
INTERNET in CHINA is just CRAZZY
Generation Y spends an average of 27 hours online per week, 24 percent more than the United States, according to a study.
The Chinese digital ecosystem is booming, with more than 900 million WeChat users: 66% of the Y generation say social media is their main platform for making friends.
Their digital behavior has fostered a so-called “zhai” culture, staying at home all day (video broadcasting, e-commerce, social media, orders for food deliveries and other services on request).
Online exposure to new ideas and aspiration to self-expression lead Generation Y to engage more in leisure and entertainment, and to focus on self-discovery.