In this rapidly changing era, young people's consumption concepts are undergoing subtle but profound changes.
They no longer blindly pursue the aura of luxury, nor do they consume for the sake of showing off, but pay more attention to cost performance and actual value, and a phenomenon called "consumption shift left" is quietly emerging among young people.
The term "left-shifting consumption" may sound unfamiliar, but the concept behind it is closely related to our lives. To put it simply, the left-shift consumption means that young people are more inclined to choose the one with a more favorable price on the premise of ensuring the same brand and quality.
To put it simply, it is to pay a lower cost and pursue a better quality of life.
This kind of change is not achieved overnight, but gradually takes shape with the progress of society and economic development. In the era of information explosion, young people have more channels to obtain product information and compare the performance of the same brand in different channels.
They are no longer swayed by ads and platform labels, but more rationally analyze the price-performance ratio of products, so as to make more informed consumption decisions. The phenomenon of left-shift consumption is reflected in many areas. Taking digital as an example, an iPhone 15 sells for 5499 on the official website, but after the e-commerce subsidy, it may only cost 5099. The product is still the same product, but the cost is lower.
In the field of clothing, young people are also beginning to pursue cost-effectiveness. The same brand of clothes may cost 800 when they first come out, but after a while, it will only cost 600. Or just come out and go directly to the discount platform to buy, sell 800 clothes on the official website, after various discounts and promotions, it may only be 600 or even lower on the discount platform.
Outlets and Vipshop are prime examples, and this kind of branded discount retail has been sought after by a large number of young people in recent years. In 2023, the sales scale of outlets will exceed 160 billion yuan. Vipshop's GMV exceeded 200 billion for the first time, with a growth rate of 18.7%, of which the GMV of wearable products increased by 24% compared with 2022.
Behind the performance of discount retail growth is the continuous influx of young people. They gather in outlets, buy big-name discount products in Vipshop, and pursue cost-effective brand quality consumption.
In this way, it is not difficult to see that the consumption of young people has shifted to the left, not to give up the quality of life, and to choose to use "9 pieces of 9 free shipping" to replace consumption. On the premise of ensuring the quality of the brand, it is necessary to buy a big brand at a lower price.
The emergence of the left-shift consumption not only reflects the maturity and rationality of young people's consumption concepts, but also reflects their pursuit of quality of life and respect for practical value. They no longer blindly consume because of blindness, but pay more attention to their actual needs and feelings, which is undoubtedly a major transformation of consumption concepts.