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text| Ten thousand people talk about life
Edit| Xiaojiang
In the 90s of last century, mobile mobile payment appeared for the first time in Europe and Japan, and in 2011, mobile payment platforms such as Alipay rose, and mobile payment was widely used in China, and wallets gradually faded out of people's lives.
However, in 2023, there is a strange phenomenon, and post-00s college students put down their mobile phones to pick up cash and wallets again.
What is the reason behind this? And what signal does it reveal?
Figure 1
Money overdraft under advance and impulse spending
With the development of the times and the advancement of science and technology, the way of consumption has also shifted from the previous single offline mode to online, and the rich and diversified products are dazzling.
More and more choices are being released into the hands of young people, and e-commerce shopping has gradually become the first choice for young people.
However, from online stores to online celebrity live broadcasts, various forms of e-commerce shopping have allowed more and more young people to be exposed to more products, and after being attracted by more attractive sales methods, it is unrestrained purchase.
Low price, novel and creative products, fashionable appearance, college students in order to pursue the pleasure of consumption, it is easy to be "addicted".
Blind follow-up behavior has caused more and more deformed impulse consumption, and money is spent like flowing water, without feeling its loss at all.
In addition, because of the developed network, more entertainment methods have been created, milk tea, Internet celebrity products, etc. emerge endlessly, whether it is holidays or non-holidays, every day is a shopping festival.
Figure 2
Merchants use a sense of ritual to promote stimulating consumption, and young college students are usually attracted by a variety of gimmicks, experience, and it seems that the first time to get a certain Internet celebrity product can become a show off in disguise.
Paying attention to fashion is what young people in every generation will pursue, regardless of the price, just look at whether it fits the eye, the brand effect drives the fashion trend, and radiates to the group of young people at a faster speed in the era of developed networks.
In addition, today's college students also attach great importance to the maintenance of friendship, and frequently participate in and hold parties and dinner activities.
According to the current common consumer prices, the per capita price ranges from 100-500 yuan, and if you are not careful, you will overdraft money, and the higher and higher price of human favors, even if you are tight, you will bite the bullet and pay.
Moonshine cost of living is doubled
According to relevant statistics in 2018, the average living cost of 80% of college students is less than 1500 yuan, and in 2019, data show that the consumption level of college students studying in first-tier cities is basically about 2400 yuan, and the new first-tier city of Suzhou also needs at least 1860 yuan.
Figure 3
For most college students, high consumption levels require spending or even overdrawing their monthly living expenses.
The only source of income for college students at this stage is the monthly living expenses fixed by their parents, and the huge pressure of life makes them panic.
Some post-00s college students said that the reason why mobile phone payment is switched to cash payment today is largely related to the temptation of the current consumption concept and the endless fraudulent loans in society.
For example, the average monthly living expenses of many college students are up to 2,500 yuan, and most of them support electronic payment in order to facilitate the use of young people on campus, and QR codes can be seen everywhere.
At this time, a problem also began to appear, using mobile phone consumption will greatly reduce people's perception of money loss.
In other words, people do not notice that money is decreasing when using electronic payment, and often young people do not have the awareness of bookkeeping.
Figure 4
As a result, while spending money, it will only pay more attention to the pleasure brought by the moment of consumption, whether it is offline electronic payment or online being swallowed up by dazzling e-commerce products and Internet celebrity recommendations, and then consumption.
However, the result of this is that they face the pain of not having money to spend at the end of each month, some college students are embarrassed to reach out to their parents for money when they have no money, and some college students will advance the next month's living expenses in advance.
Over time, it becomes a vicious circle, experiencing the pleasure and pain of consumption once a month. As a last resort, some college students will use part-time jobs to fill the gap in the middle, while others will think of borrowing.
More and more people are distressed by the lack of money, and online loans have emerged, for college students, when there is no ability to pay, most people will be embarrassed to borrow money from others because of their face, and then they will think of lending.
Figure 5
In 2018, Weibo official data showed that the consumption of living expenses of college students continued to rise, and 50% of students chose to use Huabei to spend ahead of time and repay on time next month.
Of course, small amounts can be advanced with flowers, and large amounts require real loans, and many scams are therefore tailored for college students to borrow a series of methods.
Financial platforms use the temptation of interest-free to induce college students to borrow money, and it is difficult for college students to calculate how much interest needs to be repaid in advance to meet consumer needs, and then they will fall into a more anxious repayment crisis.
For example, the once popular campus online loans have poisoned many college students, and a sophomore from Hubei used loans to buy two because he wanted to buy an Apple mobile phone, and traveled to many places before returning to school.
During the period, all expenses were generated through online loans, the total amount of consumption reached 30,000 yuan, and after the overdue period, because of liquidated damages, the final need to repay the loan of 700,000 yuan, in order to avoid debts, the student finally returned to his hometown to hide debts.
Figure 6
Not only that, but there are also many college students who choose to commit suicide because they cannot pay off loans, and similar tragedies abound. The reason why campus online loans are popular is related to its fast arrival, interest-free temptation and simple process.
Campus online loans are generally private online loan platforms, which are used in the form of apps or websites.
The process of borrowing only needs to enter the student's ID card information, Xuexin network and other information to prove their student identity, and you can successfully borrow money after telephone consultation, and the required money can arrive in half an hour at the earliest.
However, it is difficult for college students to distinguish between real and fake falling into the trap, and in 2015, the one-year interest rate of commercial loans given by the state was only 4.35%, but the mixed interest rate of online loan companies even reached 22%.
Overdue liquidated damages plus principal, interest, etc., all amounts add up like a snowball, the best way is to reduce the desire to buy, the so-called financial lending information is all blocked.
Figure 7
When realizing that online money is draining too quickly and dangerously, more and more college students are thinking about cash.
If you hold the money in your hand, you can clearly let people know the amount of money, and the reduction of money before and after use is also very obvious, which is easier to stimulate their "desire to protect" money and inhibit consumption.
In addition, in the era of big data, any privacy secrets will be exposed by the network, and what has been bought or searched for will be captured by the network.
Immediately after pushing corresponding advertisements through various channels to steal users' information, the feeling of being monitored by the network makes college students feel very insecure.
In order to reduce the disturbing push information, many college students also think that cash payment is safer and safer, so based on various factors, cash payment has gradually become an alternative trend among college students.
More importantly, in order to prevent the situation that the mobile phone runs out of battery when going out, and the tourist attraction cannot pay because there is no signal or weak signal.
Figure 8
Young people think it's also a good idea to bring cash with you, so you can avoid the embarrassment of not being able to pay even if your phone is dead or you can't pay due to signal problems.
Changes in consumption views
The reason for the phenomenon of cash payment, in addition to the diversification of social inducing information leads to more and more advanced consumption, the change of consumption view is also an important factor, the so-called consumption view is the core influencing factor of consumption behavior, but also the embodiment of values.
Most of the current college students are post-00s, experiencing the most prosperous period in the mainland, most families enjoy the dividends of reform and opening up, the economic situation and material benefits have produced different changes, and these changes also subtly affect the consumption view of college students.
According to the data analysis of the insight research report, the current consumption concept of young people shows the phenomenon of low-tier cities flocking to high-tier cities.
Figure 9
However, with the opening of the times, more and more young people have shifted from focusing on external to internal needs, from material satisfaction to spiritual satisfaction, and the interests of the group have also diversified trends, such as two-dimensional, outdoor sports and camping and other niche entertainment have become the mainstream.
In the past, when the mainland was in the development stage, smart phones and computers bloomed, and Internet access and communication accounted for a high proportion of consumption, although many young people are still the same, but they are obviously more rational.
From the pursuit of high-priced products to the enthusiasm for wool, the gifts given as treasures, the popularity of thrift consumption, and this has nothing to do with the quality of the family, everyone seems to like to grab coupons and vouchers, live a life with careful calculation, and get a sense of achievement from wool.
The latest report by China Education Daily pointed out that the current consumption concept of the young generation has gradually become rational, and it has become popular to "rub old-fashioned consumption", replace big brands with affordable items, and even do not like to participate in the so-called full reduction activities, which also reflects the new vitality of college students.
Figure 10
According to statistics, 54% of college students will choose to save the remaining money after wool for later, from the highest monthly consumption of 2,000 yuan in the past, to now they can save hundreds of yuan a month, they like this kind of life.
Such consumption behavior, also known as reverse consumption, has a variety of reasons behind it, including increased risk awareness due to the epidemic, as employment opportunities decrease, social anxiety increases, and the idea that money is becoming harder and harder to earn is deeply rooted, college students have to sound the alarm.
Of course, many are affected by the excellent view of money, and more and more peers have successively earned a pot of gold, which has stimulated more people around them to rationally consume and learn to take the initiative to make money and save money.
In 2023, China Youth Network conducted a survey of 5,000 students, of which 81.55% of college students have living expenses of 1,000-3,000 yuan, 60% have food expenses of less than 1,000 yuan, 50% have monthly living expenses, and 85% prefer rational consumption.
Figure 11
Spending money on the blade, from focusing on brand to quality, part-time money savings are far easier to meet than consumption, these have gradually formed an alternative consumption view of current college students.