Since the establishment of Alibaba platform, the e-commerce economy has developed like an unstoppable force. Until today, the development of e-commerce is still on the rise, bringing earth-shaking changes to our lives. The question is, how long can e-commerce continue to thrive?
In fact, the country has always been very supportive of the development of the real economy. Therefore, there is a discussion on the Internet that "the era of e-commerce will pass, and brick-and-mortar stores will start to overtake". China's economy has entered the second half. In the next ten years, can brick-and-mortar enterprises overtake Internet enterprises? Can physical stores overtake e-commerce and live streaming? In the battle between e-commerce and brick-and-mortar stores, who will win?
The era of economic transition from virtual to real has come
The concept of virtual economy is derived from the virtual capital proposed by Marx. Virtual economy is relative to the real economy, is the inevitable product of economic virtualization, with strong instability, this is determined by the characteristics of the virtual economy itself. The virtual economy itself has the virtuality, which makes the price decision of various virtual capital in the process of market buying and selling not follow the law of value like the price decision process of real economy. It depends more on the subjective expectations of virtual capital holders and participants on the rights and interests represented by virtual capital in the future, which in turn depends on the macroeconomic environment, industry prospects, political and surrounding environment and many other non-economic factors, increasing the instability of virtual economy.
Virtual economy has strong instability
The target audience of the real economy is the public, and all the products and services provided are necessities in daily life. The virtual economy takes finance as the main body, provides services to the real economy, and takes the possible income generated by the real economy in the future as the income source and target of the virtual economy. Therefore, if the real economy is not good, the virtual economy is bound to create problems.
Alibaba, Jingdong, Tencent and other Internet giants have been able to rise rapidly in the past 20 years and become companies with a market value of over 100 billion, by what? One might say it was the founding team, because they were on to something, they had the capital behind them and so on. In fact, no, the main reason is that in the past 20 years, that is, the first half of the Chinese economy, we have been learning from the American model, and the American model is mainly based on virtual economy, such as finance, Internet and so on.
With the rapid development of virtual economy, there are also many drawbacks. For example, although e-commerce and live streaming are an innovative mode, they have a huge impact on physical stores, leading to the closure of a large number of physical stores. In addition, because the virtual economy has a higher return on investment, entrepreneurs who do real business no longer open factories to do real business, but are more willing to put money into the financial, Internet and other virtual industries, which has also formed a large negative impact on the development of the real economy.
Although the virtual economy has a high return on investment in the short term, no matter how developed the virtual economy is, if there is no support from real enterprises and real economy, everything will be a castle in the air.
Therefore, in the last two years, the top level of the government has issued a signal: to move from virtual to real.
From this point of view, in the second half of China's economy, that is, in the next 10 years, China's economy will be more inclined to develop the real economy and focus more on industrial development.
E-commerce flow dividend period has come to an end
In the second half of China's economy to rejuvenate the state with industry is not a slogan. Careful friends will find that in the last two years, the government has begun to crack down on the improper income of the Internet giants, among which Alibaba was fined 18.228 billion yuan, Didi was fined 8.026 billion yuan.
With the push from virtual to real, not only Internet giants will be strictly regulated, but Internet celebrities and anchors will also be punished. Emperor Division was fined 10 million yuan, head anchor Wei Ya was fined 1.341 billion yuan, anchor Simba accused, 79.71 million yuan compensation.
Bricks-and-mortar companies, by contrast, are thriving. For example, Zhang Lei of Hillhouse Capital used to invest in Internet companies such as Tencent and JD.com, but in recent years he has focused more on brick-and-mortar companies. In 2017, it invested 41.3 billion yuan to acquire Shoe King Belle. In 2019, Gree became the largest shareholder with 41.662 billion yuan; In 2020, Hillhouse Capital invested in Blue Moon, Xiaopeng, Blue Moon and so on have been listed. For the entity enterprise, this is undoubtedly a positive signal.
Secondly, driven by the shift from virtual to real, physical stores will overtake e-commerce in the future and become the trend in the next 10 years. Why do you think so?
In the past, e-commerce sellers can rely on flow advantages to seize the business of offline brick-and-mortar stores, live streaming with goods can also rely on the new marketing model to crush brick-and-mortar stores. Now the flow of the platform e-commerce has bottomed out, and the live streaming with goods has begun to become more and more formal, which gives the physical store to create a breakthrough and development space.
In addition, with the advent of virtual to real, more and more jobs, people's income is constantly rising, so the consumption power will continue to increase, which can also positively promote the development of physical stores. Because in the past, people went to the broadcast room and e-commerce platform shopping, not because they like online consumption, the key is the lack of consumption power, will choose to buy cheap goods. However, with the increase of people's income, they are more willing to pay for offline product quality, offline experience, service and social communication in the future.
Offline experience will be the advantage of physical stores
E-commerce and live shopping frequently step on the pit, consumer complaints rate is getting higher and higher
At 8 PM on October 31, 2022, the first batch of final products will be delivered, which means that this year's Double 11 promotion has officially started. In the first hour of sales, more than 100 brands sold more than 100 million yuan on Tmall's platform, and the sales volume in the first hour exceeded that of the whole day on November 1 last year. It is interesting to note that the most popular search topics at this time of year are "deposit" and "balance", but this year the most popular search topic is "refund".
According to the rules of the platform, if you do not want the deposit, you can not directly refund, but must wait for the night of October 31 after the payment of the final payment, to apply for a refund, so many people are paying the final payment immediately apply for a refund. Some consumers joked that the goods had been delivered in seconds before they could get a refund. The fastest order was delivered 16 minutes after the final payment, which was simply "rocket speed".
According to previous experience, Nov 11 is also the peak period for consumer complaints. According to relevant statistics, last year's Double 11 month, the average daily complaint volume of 14,000 orders, compared to the previous month's increase of 76%; Among them, the number of complaints of cosmetics and clothing products skyrocketed, up 40 times from the previous month. Consumers complained most about refunds (47.22 percent), followed by online fraud (8.59 percent), product quality (6.94 percent), delivery problems (6.57 percent), and fake promotions (4.67 percent).
E-commerce shopping frequently step on the pit, consumer complaints rate is getting higher and higher, consumer protection associations around the country also remind everyone to rational consumption, pay attention to avoid the pit. The high degree of freedom of e-commerce sales model, low entry threshold, and lagging regulatory mechanism doomed the chaos of e-commerce cannot be fundamentally changed in a short time.
Consumer groups are the foundation of e-commerce, and reputation is the glue that connects e-commerce and live shopping to the vast consumer groups. At present, the foundation on which e-commerce relies for survival has begun to loosen.
Reputation is the glue of e-commerce and live shopping links to the vast consumer groups
E-commerce platform big data kill ripe
From the current situation of the development of e-commerce economy, many problems in the process of the development of e-commerce economy have been exposed, the most significant one is the big data.
Let's start with a case: a professor in Fudan University did an experiment. He spent 50,000 yuan on more than 800 online taxi calls, which proved a correlation. The more expensive the mobile phone, the higher the taxi fare charged. Iphones are more likely to be picked up by more expensive models, enjoy fewer benefits and have the highest rate of delays.
To put it simply, big data is the Internet business to collect consumers' personal information, analyze their consumption preferences and income level, and see what people eat. For many regular customers, not only will not get the corresponding concessions given by the platform, but also may be pit by the platform. This makes many consumers feel incomprehensible, shouldn't the old customers get more concessions? But with the help of big data, e-commerce platforms' algorithms seem more inclined to woo new customers.
According to expert analysis, the killing algorithm of e-commerce platform is mainly related to the following factors:
First of all, the economic cost of e-commerce operation has increased compared to the past. Under such circumstances, platforms can only spend limited funds to attract new customers, thus ignoring old customers. Secondly, the profit space of the e-commerce operation is being compressed. If the higher price is not given, it will be difficult for the merchants to guarantee their income. In addition, give a relatively high price, also can better obtain the trust of consumers. Finally, the supervision of the platform is insufficient, which directly leads to the emergence of a large number of bad merchants on all major platforms. These businesses not only sell fake and shoddy products, but also often sell shoddy products.
Once this phenomenon becomes normal, it will greatly reduce the credibility of the e-commerce platform. After all, whether it is a physical store or an online store, if the merchant cannot give consumers enough integrity, then why should the consumer trust the merchant? In the long run, it will only continue to consume the credibility of the platform and cool the hearts of old users.
E-commerce platform kill cooked algorithm, see people under the dish
The rise of the new middle class is driving consumption upgrading
According to the General Report of China's Urban Household Property Survey released by the National Bureau of Statistics in September, by the end of June this year, the average value of China's urban household property had reached 228,300 yuan. Statistics show that 48.5% of the surveyed households have assets between 150,000 yuan and 300,000 yuan. This means that our "middle class" (or middle income class) has been formed. By 2030, the number of middle class will reach 900 million, which will become the mainstream population with an unstoppable trend, and China's consumption structure will undergo great changes.
The "middle class" (or middle income class) has been formed in our country
Along with the release of the 2018 White Paper on the Wealth of China's High Net Worth Individuals compiled by Tsinghua University, the portrait of the new generation of Chinese high net worth individuals was also presented to the public:
1. Only choose the right one, not the most expensive one
The biggest feature of the new middle class consumption view is the obvious tendency of rationalization. It's not that they don't care about price, they care more about quality and the corresponding cost performance. The new middle class is more inclined to internal consumption, that is, comfortable, in line with their own personality, so that they have a sense of pleasure, from showing off psychology to taste psychology.
2. It is a pioneer of high-tech products
The new middle class is an early adopter of high-tech products. In the survey, 87 percent of new middle class respondents agreed that "intelligence makes my life more convenient and efficient," and 69 percent of new middle class respondents are willing to spend more money on smart devices. Eighty percent of people pay attention to "precise recommendations" given by merchants.
3. Embrace a cashless society
87% of respondents choose mobile payment as their first choice; Eighty-three percent of people use mobile payments on a daily basis, including in various situations in their lives.
4. Be willing to pay for feelings and spirit
Sixty-seven percent of respondents said they are spending more on movies, shows and other projects, while 59 percent are spending more on clothes that reflect personality and style. When shopping, the new middle class should not only consider the material properties, but also choose from the value symbolized by the product and their own taste.
5. From "Price Sensitive" to "Quality Sensitive"
When shopping, the new middle class pays more attention to shopping experience and service, pursues products and experience of higher style, and is willing to spend more money for it. But any detail can make them fall in love with a brand or fall out of love with a brand.
6. Pay for health, pay for learning
According to the 2017 China New Middle Class Quality Life Report, the new middle class has a different attitude towards health and sports from the traditional middle class. With the help of more smart devices, the middle class has a better understanding of their own bodies and attaches more importance to health. I have seen a financial talent in the public account to write: "Live long to earn more, earn more to feel the beauty of life!" Perhaps this is emblematic of the new middle class's approach to health. There are always men and women on treadmills in gyms, and fully equipped night runners are often seen on the streets at night. The new middle class is willing to sweat it out, exercise their will and keep fit.
In addition, compared with the traditional middle class, the new middle class is better at learning, accepting new things and willing to pay for learning. Because the new middle class is generally highly educated, white collar or similar jobs. They are used to learning, learning from work, learning from life. In order to expand their horizons and social circle during study, the "MBA" offered by various universities is specially set up for the learning desire and purpose of the new middle class. For the new middle class, learning is no longer a good or bad performance, but a process of self-improvement.
7. Not obsessed with logo but advocating brand attitude
In the survey, the new middle class is more willing to try new brands and products that they are not familiar with. They don't need to use big brand logos to show their identity. Sixty-eight percent of people make a purchase choice because the brand reflects their life attitude and values.
8. Pay attention to product quality and life quality
The traditional middle class buy things look at the advertisement, look at the price, look at the quality, believe in "cost performance" three words. The new middle class, on the other hand, values style and uniqueness of products, and advertising and price are not the main indicators to consider. In the pursuit of product quality, they are also constantly improving their quality of life.
Some people say that the new middle class is "lazy". In fact, the new middle class is willing to pay for this "lazy", because it is a manifestation of high-quality life. They are keen on new technology, curious about new products and pursue high-end brands, but not for high-profile luxury, but for the change and upgrade of life quality brought by these products.
9. Access opportunities through participation
The new middle class is a generation that grew up on the Internet, as opposed to traditional media like television, newspapers and magazines. The new middle class is more willing to express themselves online. The emergence of platforms such as Weibo, wechat and Toutiao has given the new middle class an unprecedented sense of participation and voice.
Another characteristic of the new middle class is a strong sense of participation. Ant Forest on Alipay, for example, has taught a large segment of the new middle class the true meaning of environmental protection. Through the continuous use of online payments, virtual power will grow into a tree. The payment platform will plant vegetation based on the number of these virtual trees. Through this unique mode of participation, a white-collar worker as far away as Guangzhou can plant a salsa tree in the arid northwest. In short, Ant Forest succeeded by harnessing the new middle class's strong sense of engagement and environmental awareness. Participation brings happiness, new topics and opportunities, and the new middle class is constantly getting opportunities to experience life through participation.
10. Consumption is more rational and experiential
The rationalization tendency of consumption view of middle class is obvious. The top five shopping considerations were "product quality", "time spent", "cost effective", "personalisation" and "brand awareness". They are willing to pay more for quality goods and services. This view of consumption can be summarized as new aesthetic and new consumption.
New consumers have two characteristics. First, they no longer pay attention to price advantages. They have higher requirements for the quality of goods and services, and are willing to pay for the quality and services. Second, they spend more and more on spiritual consumption, such as travel, study,
In fact, the country has always been very supportive of the development of the real economy. Therefore, there is a discussion on the Internet that "the era of e-commerce will pass, and brick-and-mortar stores will start to overtake". China's economy has entered the second half. In the next ten years, can brick-and-mortar enterprises overtake Internet enterprises? Can physical stores overtake e-commerce and live streaming? In the battle between e-commerce and brick-and-mortar stores, who will win?
The era of economic transition from virtual to real has come
The concept of virtual economy is derived from the virtual capital proposed by Marx. Virtual economy is relative to the real economy, is the inevitable product of economic virtualization, with strong instability, this is determined by the characteristics of the virtual economy itself. The virtual economy itself has the virtuality, which makes the price decision of various virtual capital in the process of market buying and selling not follow the law of value like the price decision process of real economy. It depends more on the subjective expectations of virtual capital holders and participants on the rights and interests represented by virtual capital in the future, which in turn depends on the macroeconomic environment, industry prospects, political and surrounding environment and many other non-economic factors, increasing the instability of virtual economy.
Virtual economy has strong instability
The target audience of the real economy is the public, and all the products and services provided are necessities in daily life. The virtual economy takes finance as the main body, provides services to the real economy, and takes the possible income generated by the real economy in the future as the income source and target of the virtual economy. Therefore, if the real economy is not good, the virtual economy is bound to create problems.
Alibaba, Jingdong, Tencent and other Internet giants have been able to rise rapidly in the past 20 years and become companies with a market value of over 100 billion, by what? One might say it was the founding team, because they were on to something, they had the capital behind them and so on. In fact, no, the main reason is that in the past 20 years, that is, the first half of the Chinese economy, we have been learning from the American model, and the American model is mainly based on virtual economy, such as finance, Internet and so on.
With the rapid development of virtual economy, there are also many drawbacks. For example, although e-commerce and live streaming are an innovative mode, they have a huge impact on physical stores, leading to the closure of a large number of physical stores. In addition, because the virtual economy has a higher return on investment, entrepreneurs who do real business no longer open factories to do real business, but are more willing to put money into the financial, Internet and other virtual industries, which has also formed a large negative impact on the development of the real economy.
Although the virtual economy has a high return on investment in the short term, no matter how developed the virtual economy is, if there is no support from real enterprises and real economy, everything will be a castle in the air.
Therefore, in the last two years, the top level of the government has issued a signal: to move from virtual to real.
From this point of view, in the second half of China's economy, that is, in the next 10 years, China's economy will be more inclined to develop the real economy and focus more on industrial development.
E-commerce flow dividend period has come to an end
In the second half of China's economy to rejuvenate the state with industry is not a slogan. Careful friends will find that in the last two years, the government has begun to crack down on the improper income of the Internet giants, among which Alibaba was fined 18.228 billion yuan, Didi was fined 8.026 billion yuan.
With the push from virtual to real, not only Internet giants will be strictly regulated, but Internet celebrities and anchors will also be punished. Emperor Division was fined 10 million yuan, head anchor Wei Ya was fined 1.341 billion yuan, anchor Simba accused, 79.71 million yuan compensation.
Bricks-and-mortar companies, by contrast, are thriving. For example, Zhang Lei of Hillhouse Capital used to invest in Internet companies such as Tencent and JD.com, but in recent years he has focused more on brick-and-mortar companies. In 2017, it invested 41.3 billion yuan to acquire Shoe King Belle. In 2019, Gree became the largest shareholder with 41.662 billion yuan; In 2020, Hillhouse Capital invested in Blue Moon, Xiaopeng, Blue Moon and so on have been listed. For the entity enterprise, this is undoubtedly a positive signal.
Secondly, driven by the shift from virtual to real, physical stores will overtake e-commerce in the future and become the trend in the next 10 years. Why do you think so?
In the past, e-commerce sellers can rely on flow advantages to seize the business of offline brick-and-mortar stores, live streaming with goods can also rely on the new marketing model to crush brick-and-mortar stores. Now the flow of the platform e-commerce has bottomed out, and the live streaming with goods has begun to become more and more formal, which gives the physical store to create a breakthrough and development space.
In addition, with the advent of virtual to real, more and more jobs, people's income is constantly rising, so the consumption power will continue to increase, which can also positively promote the development of physical stores. Because in the past, people went to the broadcast room and e-commerce platform shopping, not because they like online consumption, the key is the lack of consumption power, will choose to buy cheap goods. However, with the increase of people's income, they are more willing to pay for offline product quality, offline experience, service and social communication in the future.
Offline experience will be the advantage of physical stores
E-commerce and live shopping frequently step on the pit, consumer complaints rate is getting higher and higher
At 8 PM on October 31, 2022, the first batch of final products will be delivered, which means that this year's Double 11 promotion has officially started. In the first hour of sales, more than 100 brands sold more than 100 million yuan on Tmall's platform, and the sales volume in the first hour exceeded that of the whole day on November 1 last year. It is interesting to note that the most popular search topics at this time of year are "deposit" and "balance", but this year the most popular search topic is "refund".
According to the rules of the platform, if you do not want the deposit, you can not directly refund, but must wait for the night of October 31 after the payment of the final payment, to apply for a refund, so many people are paying the final payment immediately apply for a refund. Some consumers joked that the goods had been delivered in seconds before they could get a refund. The fastest order was delivered 16 minutes after the final payment, which was simply "rocket speed".
According to previous experience, Nov 11 is also the peak period for consumer complaints. According to relevant statistics, last year's Double 11 month, the average daily complaint volume of 14,000 orders, compared to the previous month's increase of 76%; Among them, the number of complaints of cosmetics and clothing products skyrocketed, up 40 times from the previous month. Consumers complained most about refunds (47.22 percent), followed by online fraud (8.59 percent), product quality (6.94 percent), delivery problems (6.57 percent), and fake promotions (4.67 percent).
E-commerce shopping frequently step on the pit, consumer complaints rate is getting higher and higher, consumer protection associations around the country also remind everyone to rational consumption, pay attention to avoid the pit. The high degree of freedom of e-commerce sales model, low entry threshold, and lagging regulatory mechanism doomed the chaos of e-commerce cannot be fundamentally changed in a short time.
Consumer groups are the foundation of e-commerce, and reputation is the glue that connects e-commerce and live shopping to the vast consumer groups. At present, the foundation on which e-commerce relies for survival has begun to loosen.
Reputation is the glue of e-commerce and live shopping links to the vast consumer groups
E-commerce platform big data kill ripe
From the current situation of the development of e-commerce economy, many problems in the process of the development of e-commerce economy have been exposed, the most significant one is the big data.
Let's start with a case: a professor in Fudan University did an experiment. He spent 50,000 yuan on more than 800 online taxi calls, which proved a correlation. The more expensive the mobile phone, the higher the taxi fare charged. Iphones are more likely to be picked up by more expensive models, enjoy fewer benefits and have the highest rate of delays.
To put it simply, big data is the Internet business to collect consumers' personal information, analyze their consumption preferences and income level, and see what people eat. For many regular customers, not only will not get the corresponding concessions given by the platform, but also may be pit by the platform. This makes many consumers feel incomprehensible, shouldn't the old customers get more concessions? But with the help of big data, e-commerce platforms' algorithms seem more inclined to woo new customers.
According to expert analysis, the killing algorithm of e-commerce platform is mainly related to the following factors:
First of all, the economic cost of e-commerce operation has increased compared to the past. Under such circumstances, platforms can only spend limited funds to attract new customers, thus ignoring old customers. Secondly, the profit space of the e-commerce operation is being compressed. If the higher price is not given, it will be difficult for the merchants to guarantee their income. In addition, give a relatively high price, also can better obtain the trust of consumers. Finally, the supervision of the platform is insufficient, which directly leads to the emergence of a large number of bad merchants on all major platforms. These businesses not only sell fake and shoddy products, but also often sell shoddy products.
Once this phenomenon becomes normal, it will greatly reduce the credibility of the e-commerce platform. After all, whether it is a physical store or an online store, if the merchant cannot give consumers enough integrity, then why should the consumer trust the merchant? In the long run, it will only continue to consume the credibility of the platform and cool the hearts of old users.
E-commerce platform kill cooked algorithm, see people under the dish
The rise of the new middle class is driving consumption upgrading
According to the General Report of China's Urban Household Property Survey released by the National Bureau of Statistics in September, by the end of June this year, the average value of China's urban household property had reached 228,300 yuan. Statistics show that 48.5% of the surveyed households have assets between 150,000 yuan and 300,000 yuan. This means that our "middle class" (or middle income class) has been formed. By 2030, the number of middle class will reach 900 million, which will become the mainstream population with an unstoppable trend, and China's consumption structure will undergo great changes.
The "middle class" (or middle income class) has been formed in our country
Along with the release of the 2018 White Paper on the Wealth of China's High Net Worth Individuals compiled by Tsinghua University, the portrait of the new generation of Chinese high net worth individuals was also presented to the public:
1. Only choose the right one, not the most expensive one
The biggest feature of the new middle class consumption view is the obvious tendency of rationalization. It's not that they don't care about price, they care more about quality and the corresponding cost performance. The new middle class is more inclined to internal consumption, that is, comfortable, in line with their own personality, so that they have a sense of pleasure, from showing off psychology to taste psychology.
2. It is a pioneer of high-tech products
The new middle class is an early adopter of high-tech products. In the survey, 87 percent of new middle class respondents agreed that "intelligence makes my life more convenient and efficient," and 69 percent of new middle class respondents are willing to spend more money on smart devices. Eighty percent of people pay attention to "precise recommendations" given by merchants.
3. Embrace a cashless society
87% of respondents choose mobile payment as their first choice; Eighty-three percent of people use mobile payments on a daily basis, including in various situations in their lives.
4. Be willing to pay for feelings and spirit
Sixty-seven percent of respondents said they are spending more on movies, shows and other projects, while 59 percent are spending more on clothes that reflect personality and style. When shopping, the new middle class should not only consider the material properties, but also choose from the value symbolized by the product and their own taste.
5. From "Price Sensitive" to "Quality Sensitive"
When shopping, the new middle class pays more attention to shopping experience and service, pursues products and experience of higher style, and is willing to spend more money for it. But any detail can make them fall in love with a brand or fall out of love with a brand.
6. Pay for health, pay for learning
According to the 2017 China New Middle Class Quality Life Report, the new middle class has a different attitude towards health and sports from the traditional middle class. With the help of more smart devices, the middle class has a better understanding of their own bodies and attaches more importance to health. I have seen a financial talent in the public account to write: "Live long to earn more, earn more to feel the beauty of life!" Perhaps this is emblematic of the new middle class's approach to health. There are always men and women on treadmills in gyms, and fully equipped night runners are often seen on the streets at night. The new middle class is willing to sweat it out, exercise their will and keep fit.
In addition, compared with the traditional middle class, the new middle class is better at learning, accepting new things and willing to pay for learning. Because the new middle class is generally highly educated, white collar or similar jobs. They are used to learning, learning from work, learning from life. In order to expand their horizons and social circle during study, the "MBA" offered by various universities is specially set up for the learning desire and purpose of the new middle class. For the new middle class, learning is no longer a good or bad performance, but a process of self-improvement.
7. Not obsessed with logo but advocating brand attitude
In the survey, the new middle class is more willing to try new brands and products that they are not familiar with. They don't need to use big brand logos to show their identity. Sixty-eight percent of people make a purchase choice because the brand reflects their life attitude and values.
8. Pay attention to product quality and life quality
The traditional middle class buy things look at the advertisement, look at the price, look at the quality, believe in "cost performance" three words. The new middle class, on the other hand, values style and uniqueness of products, and advertising and price are not the main indicators to consider. In the pursuit of product quality, they are also constantly improving their quality of life.
Some people say that the new middle class is "lazy". In fact, the new middle class is willing to pay for this "lazy", because it is a manifestation of high-quality life. They are keen on new technology, curious about new products and pursue high-end brands, but not for high-profile luxury, but for the change and upgrade of life quality brought by these products.
9. Access opportunities through participation
The new middle class is a generation that grew up on the Internet, as opposed to traditional media like television, newspapers and magazines. The new middle class is more willing to express themselves online. The emergence of platforms such as Weibo, wechat and Toutiao has given the new middle class an unprecedented sense of participation and voice.
Another characteristic of the new middle class is a strong sense of participation. Ant Forest on Alipay, for example, has taught a large segment of the new middle class the true meaning of environmental protection. Through the continuous use of online payments, virtual power will grow into a tree. The payment platform will plant vegetation based on the number of these virtual trees. Through this unique mode of participation, a white-collar worker as far away as Guangzhou can plant a salsa tree in the arid northwest. In short, Ant Forest succeeded by harnessing the new middle class's strong sense of engagement and environmental awareness. Participation brings happiness, new topics and opportunities, and the new middle class is constantly getting opportunities to experience life through participation.
10. Consumption is more rational and experiential
The rationalization tendency of consumption view of middle class is obvious. The top five shopping considerations were "product quality", "time spent", "cost effective", "personalisation" and "brand awareness". They are willing to pay more for quality goods and services. This view of consumption can be summarized as new aesthetic and new consumption.
New consumers have two characteristics. First, they no longer pay attention to price advantages. They have higher requirements for the quality of goods and services, and are willing to pay for the quality and services. Second, they spend more and more on spiritual consumption, such as travel, study,
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