The report shows that nearly 70% of new young fashion consumers first consider cost performance

On January 5th, the seminar on "Development of New Youth Fashion Consumption Trends" was held in Beijing. The research group of Beijing Normal University released the "2021 New Youth Fashion Consumption Trend Development Report" (hereinafter referred to as the report) at the meeting. The report believes that the new youth group has become the main force of fashion consumption, showing greater "explosive power" and future development potential in a variety of fashion consumption scenarios, and the new e-commerce platform Pinduoduo has become the preferred cost-effective platform for fashion consumers, and the domestic and foreign fashion brands on the platform are favored by new young consumers.

Nearly 70% of new young fashion consumers value cost performance

At the seminar, Li Biao, director of the Institute of Public Opinion of Chinese University, said that consumption behavior and consumption phenomena have the most intuitive and significant indicative effect on the entire social and economic development. Studying the consumption patterns of new youth groups, including attitudes towards fashion consumption, "in a sense, like a human nose, can be keenly felt by a change in the external environment."

Based on questionnaire surveys and industry research, the report provides insights and analysis on the clothing brand preferences, dressing style preferences, fashion and home shopping habits of young people in different regions and different ages. At the same time, through the analysis of young people's favorite trend elements, acceptable price ranges and other information, we have a comprehensive insight into the ways and attitudes of new young people chasing fashion, and make corresponding trend judgments on the development of online fashion consumption.

The research group of Beijing Normal University believes that having high economic and consumption power and not requiring family support is the current situation of more new youth groups. At the same time, benefiting from the dissemination of financial information and economic concepts, new young consumers tend to be more rational when consuming, and their ostentatious consumption behavior is reduced.

The "2021 New Youth Fashion Consumption Trend Development Report" summarizes the main characteristics of online shopping for new youth groups

Online shopping is the main fashion consumption channel for the new youth group. According to the survey data, 21% of new young people have to make online shopping every day, 62% of the population said that the willingness to buy online in the future will increase, and nearly 70% of new young fashion consumers should first consider cost-effective factors when shopping.

Especially in the field of digital 3C, high performance and cost-effective configuration are the directions pursued by more new young consumers. The report takes the "RTX series notebook new product launch" activity launched by the Pinduoduo Ten Billion Subsidy Channel in 2021 as an example, which provides official subsidies of up to 1,000 yuan on the day of the event, and the relevant preferential information forms a fission-type spread in the player WeChat group, games and hardware communities, and the RTX3070 and RTX3060 game notebooks from multiple brands such as Mechanical Revolution and Shenzhou attract consumers' enthusiastic spelling orders.

"In the 10 billion subsidy channel, Pinduoduo and many brand owners jointly promote, and implement direct consumption subsidies and substantial profits for brand standards with high attention, good sales and good consumer feedback in the market, so that consumers really feel the benefits, which is also the main reason why young consumers recognize the hundred supplements." Chen Chen, a researcher at the Pinduoduo New Consumption Research Institute, said.

The report also believes that when shopping, in addition to the cost-effective factor, the new young fashion consumers have a more detailed appeal to the function, and the product quality and professional function experience have become the information that the young group pays attention to when consuming. Nearly 60% of new young fashion consumers say that stylish design will facilitate their purchasing decisions.

According to the official data of the new e-commerce platform Pinduoduo, since the winter of late November 2021, plush Martin boots, thermal underwear sets, and down jackets have become the cold needs of most female consumers, and the sales of dozens of warm and fashionable clothing items have increased by more than 90% compared with the same period last year. Taking the fashion new underwear brand Ubras as an example, in the official flagship store opened on the Pinduoduo platform, more than 60 products participate in the "10 billion subsidy", and consumers can receive official subsidies when they buy at an affordable price. "The material is very good", "comfortable" and "cost-effective" are the top three high-frequency words of consumer evaluation.

The "lipstick economy" has become a highlight of the post-epidemic era, and domestic and foreign beauty brands have also become the target of female consumers. In the cold season, color number, brightness, moisture are important criteria for female consumers to choose lipstick.

In terms of diet, in addition to impressing consumers in taste and taste, ingenious product design can also make people "love at first sight". RIO cocktails are loved by young consumers, and their bold innovations in bottle and packaging design make consumers "happy to fight". A variety of fresh and colorful visual effects, with different tastes, firmly attract the attention of young consumers. Among the product reviews of strawberry flavor and peach flavor pre-mixed cocktails on the Pinduoduo platform, "the bottle is particularly beautiful" reached 11,000, which became the hottest evaluation term.

Previously, the research group of Beijing Normal University summarized the main characteristics of the new youth online shopping through case research and other methods: consumption is not enough, careful calculation and quality; shopping is social, and willing to share strategies with friends. This feature echoes the conclusions of this report on fashion consumption. Professor Yu Guoming said that the "New Youth" series of research reports is a three-dimensional study of specific groups by the research group of Beijing Normal University, hoping to provide a point of view and an analytical perspective from the perspectives of communication, sociology and economics.

Ding Hanqing, deputy dean of the School of Journalism and Communication of Beijing Normal University, believes that young people represent the future, and the consumption mode of new youth is actually a very important aspect of academics observing social culture. They chase fashion elements, influence fashion attitudes, and then empower fashion products or brands.

Digital transformation commodities are popular with new youth and new national tides

The research group believes that for new young consumers, the traditional e-commerce sales model can no longer meet their spiritual needs. The cross-border collision of IP, artists, different industries or brands and other fields has increased the injection of fresh elements, giving new sensory stimulation to traditional fashion products, and also stimulating the emotional experience of new young consumers in terms of value recognition and nostalgia. The report pointed out that in 2020, the number of women's wear consumers of anime IP design elements on the Tmall platform was 2.5 times that of 2019.

The pandemic has catalyzed the digital transformation of the fashion industry. Digital means such as cloud shows and online live broadcast exhibitions have become a new way for new youth to make fashion consumption. In March 2020, the Metropolitan Museum of Art and other 7 of the world's top museums launched online live broadcasts in Pinduoduo, selling nearly 1,000 kinds of museum features. The 2021 Shanghai Book Fair offline exhibition has been postponed due to the epidemic, but readers can still taste the 2021 good books recommended by the Shanghai Book Fair and travel to the spiritual homeland through the cloud visiting the "More Reading Month" year-end reading week. Among them, a number of creative publishing books represented by the red readings "Into Tree Delhi" and "My First Red Pop-up Book: From Shikumen to Tiananmen" have attracted the attention of many readers.

"Pinduoduo platform will continue to be committed to creating digital activities, launching cross-border co-branding and diversified products, hoping to meet the diversified needs of new young consumers and increase the freshness and pleasant experience of shopping." Chen Chen shared.

As one of the most popular trend elements in the fashion industry, the new national trend style has become the favorite of post-95 and post-00 consumers. On the Pinduoduo platform, the new youth have their own "national tide and new ideas". According to reports, in the first half of 2020, the original Hanfu grew the most rapidly in the niche clothing category of the Pinduoduo platform, with a year-on-year increase of 30 times over 2019. Under the leading role of the new e-commerce platform, Hanfu has developed into a circle culture, gradually compatible and popularized in various tier cities, and there is a trend of development towards Changfu.

In recent years, the sales of sports fashion products and interest professional products have also ushered in rapid growth. On the Pinduoduo platform, the simple and clean Japanese mountain outdoor style is very popular in 2021, and popular products such as fully automatic quick-open tents, light skin backpacks, portable outdoor folding stools, and warm four-season sleeping bags have been purchased in dozens of stores.

The report believes that in the fashion model of new youth and new consumption, domestic brands are also rising strongly. According to the official data of Pinduoduo, domestic brands such as Metersbonwe, Hongxing Erke, Huili, Yuanqi Forest, RIO Ruiao and Shanghai Jahwa have "contracted" the "food, clothing, housing and transportation" of new young consumers, and have been shortlisted for the ranks of the favorite brands of new young consumers on the Pinduoduo platform. During the 2021 Pinduoduo 11 11 promotion campaign, the platform tilted traffic and tens of billions of subsidy channel resources to new domestic brands. The relevant person in charge of Pinduoduo 11 11 said that the platform will continue to help the traditional brands of domestic products to be renewed, as well as the rise of new trends in domestic brands.

Liu Dehuan, deputy dean of the School of New Media of Peking University, believes that the fashion consumption of new youth can be summarized by 7 "modernizations", namely life, personalization, national tide, science and technology, circle layering, empathy, and digitalization. "The new national tide is actually a manifestation of contemporary Chinese young people's re-understanding of their own culture and realizing self-identity and national identity." He said.