4 More Reasons Why China’s Millennials Have Evolved into Powerhouses in the Marketplace
- Grew up in a fast-paced socially evolving environment
This particular generation has witnessed the most dramatic transformation of the country from a poor nation with little technology, to now the world’s second-largest economy on earth, that has both benefited and suffered from globalization and economic spin-offs directly. Chinese millennials have developed many unique characteristics in a rapidly changing economic environment.
- Chinese millennials are the world’s most connected
Chinese millennials are always online, constantly checking their phones, internet savvy and are social butterflies. This represents a need for them to stay connected with the world through the internet and social media, and brands should consider how they can gain their attention.
Companies should listen to their idea’s keeping interactive on social media for brands, how to get a millennials attention in ads, and what drives them to make a purchase, from an ad.
- Chinese millennials participate in a unique commercial ecosystem that is dominated by e-commerce.
Most Western companies have a known overseas partner, be it on Facebook, Twitter, LinkedIn or in China. This has made a lot harder for foreign brands to do business in China, but that’s not all.
A speaker from Hot Pot Digital, a China digital marketing firm, took notes, that unlike in the U.S., e-commerce entirely defines the business ecosystem in China, as it has in every step of the transaction process. It has been estimated by Hot Pot Digital, that China will represent about 60 percent of all global e-commerce transactions by 2020.
- Most valuable millennial influential generation—the “post-95’s”
This particular generation born after 1995 (aka, the “post-95’s” as they’re known in China) is likely to be the next, most important consumer group that brands should zero in on. They caught the technology transformation boom in its infancy stage in 1995, on the web with Windows 95’, and morphed into a millennials big brother in ways.
As a consumer group, they are very promising. They will affect the future of retail in a most profound way. Can we champion Chinese millennials to boom across Asia to transform companies & businesses from within?