According to mainland media, in September, iiMedia Research released a “White Paper on the Trend Insights of Interest Consumer Market in 2022.”
A survey of young people born between 1990 and 2009, with a certain financial status, found that “young adults” are quite frugal in basic consumption, but pay more attention to personal consumption.
Some online shopping platforms have published consumption reports from young consumers’ perspectives and found that “save if you can save” has become a new consumption phenomenon.
Although promoting the most frugal lifestyle, this segment of young Chinese is willing to pay more to make themselves happy and enrich their life experience. They follow the so-called Save money to buy happiness trend.
Twenty-four-year-old Lin Yuqing joined a “stingy” group in July on Douban. She shared her experience using the natural plant Sapindus saponaria (soap nut) instead of shampoo.
She shared that spending 10 yuan to buy soap nuts to soak in the water is enough to wash her hair for a month. This short post received hundreds of likes. Besides, Lin also shared other habits such as washing her face with water or soap only, using only one or two lipsticks, not buying new clothes except for weddings, and not wasting food when eating out.
About 600,00 people in the group share the same ideas as Lin. She said that her “stingy” level is only average compared to others in her group. She once witnessed some netizens eating expired bread or milk.
There is another group with 345,049 members, called “Do not buy, against consumerism.” “Clothes” became the main “do not buy” object of the group.
University student Ah Yun shared her experience reducing the urge to buy clothes in the group. She built an electronic wardrobe using excel. The type, quantity, purchase motive, pros and cons, and clothing price are all listed. During the sorting process, Ah Yun discovered that many items of clothing were purchased on impulse, the price was not cheap, and she didn’t wear them much.
Now she can easily combine clothes from different seasons, thanks to her electronic wardrobe. When she looked at the number of clothing items with a low usage rate, her desire to buy new clothes immediately dissipated. She decided to make the best use of the clothes she already had.
Liu Jing, a 22-year-old university student, practices a frugal lifestyle with only a 500 yuan monthly spending allowance. Before her senior year, Liu spent 4,000 yuan a month. Food and clothing accounted for the most. She met a person who was conscious about saving money and Liu gradually changed her perception of her lifestyle.
In addition to reducing the amount spent on clothing, home cooking is also a trend to save on food expenses, which is a priority of mainland students.
This summer, Xiao Xia, a recent 23-year-old graduate, went to Beijing to rent a house for an internship. She found the food ordered online to be unappetizing and expensive. She chose to cook instead. She said that cooking costs her only 150 yuan a week and the quality is much better.
Young people also share another saving method. They use discount shopping software.
University student Weiwei used to be a big fan of shopping, but the things she bought quickly went out of fashion, and she didn’t want to use them again even though the quality was still good.
However, she was inspired by a friend to consider discount shopping software. At first, she was apprehensive about the quality of the goods. Still, after experiencing it, she was completely satisfied with the quality and happy to have saved large sums of money.
According to Ifeng News, there are many such cases. Some people choose not to frequent hair salons anymore, but grow and cut their hair twice a year on discount days. Some others prefer to shop only in groups, or on sale days.
On social networks, they often form groups to hunt for discounts from suppliers and retailers.
Young people share, not only with their peers, but with their families and the people around them also seem to be becoming more thrifty. They are no longer as generous with their children and always considering new expenses.
Even state media advises people to save more.
People’s Daily has published a number of articles in recent years, saying that they advocate reasonable consumption and moderate borrowing, establish a correct credit consumption concept, and take into account your own reality, income, and expenditure status.
In the past, some young people even started looking for ways to borrow money to “spend first,” despite criticism. Young people at that time liked to show off their fake wealth.
However, today’s young Chinese tend to use money more wisely. They prefer investing in personal or financial growth.
University student Fiona shared that she used her free time to travel to nearly 30 countries and regions alone during her university vacation. Her family’s 1,500 yuan monthly living allowance wasn’t enough to feed her wants, so she found other ways to save for travel by getting part-time jobs.
In addition, more and more young people are sharing their lifestyles as financial investors and practicing smart money management.
Interestingly, in the comment section of the news article, a few netizens commented on the same opinion: there is no money.