Analysis of consumer style characteristics of pre-70s and post-70s generations, and give targeted product design and operational recommendations

Editor’s note: This article is from WeChat public account “Products meet operations” (ID: alden_xu), author Xu Kuangpeng, original title: talk about new retail (13): 70 before After 70, after 85, after 95.

Continue the new retail series and talk about the intergenerational characteristics of consumers.

In 1980, the single-child family began to scale on the stage, and the exclusive use of family resources gradually brought about the difference in style between the 80s and the 70s. However, the dramatic changes in China’s economic environment, which deeply affects the consumption style, lag behind this. From the point of view of consumption style, there is a relatively clear watershed in 85 years. The consumer psychology and characteristics of 80-85 are closer to 70-80 consumers, while the consumer characteristics of 85-90 are closer to 90~. 95 generation. After the 95s (including 00), most of them are still students or just working. From consumer goods to spending power, there are huge differences between the 95 and the pre-95, which can be discussed separately.

This article mainly talks about the consumption style, so please let me divide the consumer intergenerational period by 70, 70, 85, and 95. According to the basis of the Chinese consumer environment reasoning, please refer to the previous article “ Talk new retail (12): evaluation of buried secrets of 》.

Statistics of total population and consumption ratio among generations

I carefully checked the demographic report. According to the National Bureau of Statistics data at the end of 2018, China’s current total population is about 1.395 billion people. The intergenerational distribution is as follows:

  • The total population before 70 is about 480 million, accounting for 34.3%.

  • After 70 (including 1970), about 320 million, accounting for 22.9%.

  • 85 (including 1985) about 220 million, accounting for 15.7%.

  • After 95 (including 1995), about 380 million, accounting for 27.1%.

This division is not based on the most common post-70s, 80s, 90s, and 00s. The inconsistency in the number of intergenerational years leads to a certain fluctuation in the proportion of intergenerational population.

Let’s look at the total proportion of consumption in each generation (online + offline). At present, there is no report on the reliable statistics of intergenerational consumption. I have reviewed many reports and comprehensively calculated the consumption trend report data from multiple sample surveys issued by Yibang Power, Tencent Technology, and Jingdong Finance. , can refer to.

  • The total consumption before 70 is about 14.9%

  • The total consumption of 70-85 is about 58.1%

  • The total consumption of 85~95 is about 20.4%

  • The total consumption after 95 (including 00) is about 6.6%.

Let’s compare the relationship between the proportion of the population and the proportion of consumption:

Talk about new retail: consumption characteristics of pre-70s and post-70s groups

From the above picture, we can get the consumption power (consumption ratio / population ratio) of the following figure:

Talk about new retail: consumption characteristics of pre-70s and post-70s groups

From this data, we can see that the current consumption power of the generation of 70-85 is in an absolute leading position; although the consumption after 85 is growing rapidly, the per capita consumption power is still nearly double the gap of the previous generation; 95 After that, he gradually began to take up jobs and has a fast-growing income, but he has a large student population and his consumption power is relatively weak. Before 70, due to relatively frugal consumption habits, lighter family burdens, and consumption content based on pension, health care, and tourism, per capita consumption was generally low.

It can be argued that if the business is targeted at young groups with fast-growing consumer power, it can be targeted for post-95 business.