China’s millennial generation isn’t young…the oldest born in early 1981 is cresting 40!
So it isn’t a surprise that many have become PARENTS.
They are often overlooked by Western brands.
Which is crazy!
Their leverage is enormous. The earlier they were born, the more likely they are to have assets and resources.
MORE THAN 70% own their own flats…double the rate in the States.
They are “DINKS” (double income no kids) for longer than their Western counterparts. And they are likely to have one child (which their extended family often spoils rotten.)
So during and after COVID, their spending reflects a curiously “revenge” mindset…showing their need to connect and to free themselves from the shackles of modern life under quarantine.
Their desire to engage the world with confidence and optimism is unrivalled among generations as can be seen in our series exploring spending patterns of urban parents during COVID.
Here’s how a typical millennial mom responded to COVID and the immediate recovery period.
#China #eCommerce #Millennial #COVID #EconomicRecovery #ConsumerSpending #Tmall #Taobao