CONTENT OUTLINEConsumer trends of 20231.Adventurism2.Parenting Gen Alpha3.New definition of Romance4.5.AboutDaxueConsulting 0416293850 © 2023daxueconsultingALL RIGHTS RESERVED10后or “post 10s”(2010-2019)Millennials(1981-1997)Gen Z(1997-2012)00后or “post 00s”(2000-2010)90后or “post 90s”(1990-1999)Must know Chinese terms: How “young adults” are defined in ChinaAs our research combines both Chinese and foreign sources, it is important to define theterminology used in both kinds of sources to understand this report.Gen Alpha(2012-2024)199020002010English terminologyChinese terminologyBirth year The shift in workplace after the end ofZero-COVIDPhoto:Xiaohongshuuser @介入设计便利店 © 2023daxueconsultingALL RIGHTS RESERVEDA wake-up call for big cities–Chinese seek work-life balancePost lockdown,Chinese people place more value work-life balance, health and freedom. Additionally, they are less interested in big citiesor working in major corporations.AfterCOVID-19/lockdown,which of the following changeswould you like to make?SamplesizeN=2,079“Livingin a big city orworkinginamajorenterprisemeanslesstomeascomparedtopre-COVIDtimes.”-A netizen from Shanghai“Afterthelockdownperiod,Ivaluehealth and freedommorethanbefore.”-A netizen who recoveredfromCOVID-1940.7%41.3%46.6%57.7%67.2%Show more care towards familymembersEnhance the quality of life at homeDo more indoor sportsIncrease savings, reduce unnecessaryspendingPurchase more necessities and foodWhich of the following things have decreased in importancein your mind compared to the pre-COVID-19 times?35%45%42%34%30%27%27%24%28%22%21%Post-00sPost-95sPost-90sPost-85sBig citiesWorking in top tech companies•Post-00s youngsters are losing interest in working for majorcorporationsandtoptechcompanies.•Upto 32%of total survey participants began to contemplatewhethertoswitchfromtheircurrentcitiestoplaceswithmorework-lifebalance.SamplesizeN=2,079Source:DTFinance and Economics, 2022 44%18%19%21%Post-80sMajor corporations 6 © 2023daxueconsultingALL RIGHTS RESERVED74%61%59%54%49%37%SalaryIndustryprospectsRoom fordevelopmentMatchinginterestsStabilityFreedomPost-00s seek jobs that fit their career prospects and lifestyleA survey of recent graduates showed that post-00s job seekers in China prioritize salary and industry prospects, followed by growthopportunities and personal interests.Source:Xinhuanet, 2022SamplesizeN=2,072Job considerations of the post-00s job seekers"Iwould prefer a less stressful job where the paydoesn'thavetobehigh,butthereisroomforgrowth.“-arecentundergraduate,whowillbeattendinggraduateschoolin2023“Manynewcareershaveemergedaspeoplehaveincorporatedtheirhobbiesintotheircareers,whichisalsoinlinewiththecharacteristicsofthepost-00s,whohave individuality,dare to innovate andimprovetheirlevelofhappinessthroughwork.”-arecentgraduateofHebeiNormalUniversity•Morethan50%oftheChinesesurveyedviewworkasnotonlyasa means to earn income but also a way to realizeprofessionalvalues,enhance capabilities,and broadenhorizons.•Hence,theyarehighlyconcernedaboutpersonalgrowthandindustryprospectsoftheirchosencareers.“IhopethecareerIchooseisinlinewithmymajor,orfitsmyfuturecareerplan.Iamnotsoeagertomakea lot of money,and I hope the workingatmosphereisrelaxed.”-arecentgraduatefromHenan The state ofGuochaoPhoto:Xiaohongshuuser @臭屁香 © 2023daxueconsultingALL RIGHTS RESERVEDGuochao’sscope broadened from daily essentials to high-tech productsGuochao1.0Guochao2.0•Guochaobrandsstartedtoflourishin2011•Consumersbegantoshowpreferenceforlong-establishedChinesebrandssuchasLiNing(李宁),Pechoin(百雀羚),andWarrior(回力)•Productsimpacted:Clothing,shoes,food,anddailynecessities•High-techconsumergoodsmadeinChinathrivedthroughtechnologicalinnovationandemphasisonbranding,•Netizenssearched and discussed 5G,locally-madesemiconductorchips,AIphotography,fastchargingphones,anddomesticsmartcarswithself-drivingtechnologyonforums•Productsimpacted:Mobile phones,cars,smarthouseholdappliances,andcosmeticsSource: Pechoin. Pechoin’s star product-moisturizingbalm, was launched in the market back in 1931.Source: People’s Daily.Baidu’s self-drivingRobotaxifleet started its trial operation in Changsha.Source:Baidu and People‘s Research Institute (人民网研究院), 2022Guochaono longer relies only on cultural resonance to attract followers, but also on technological innovation to upgrade the experience. © 2023daxueconsultingALL RIGHTS RESERVEDGuochao3.0 and the rise of the Chinese entertainment industrySource:Weibo.“BirthofthedemonchildNezha”(哪吒之魔童降世)whichwas adapted from a classic 16th-century novel becameChina’salltimethird-highest-grossingfilm($742.7million).Guochao3.0•Chineseculturalintellectualproperties(IPs)startedtogainpopularity•Chineseyoungsters showed their support through wearing traditionalhanfu(汉服),watchingGuochao moviesandreality showsonChinesetraditionalcultureandarchaeologydiscoveries•Guochao3.0 also marks the rise of Chinese soft power,as Chineseproductionsare now included on global entertainment platforms likeNetflix.•Productsimp