Youth spending more, and advising families
Source: Xinhua |
December 8, 2011, Thursday
|
Print Edition
Print Edition
A RECENT survey found that urban Chinese born in the 1990s are playing a significant role in consumption - as they have more disposable money and a greater say in family spending.
The pocket money for a middle school student averaged 382 yuan (US$61) a month in 2010, five times more than the 68 yuan per month found in the pockets of this demographic in a similar survey conducted 10 years ago, according to a report from Horizon Research Group, a Beijing-based independent research firm.
This was boosted by an average of 1,923 yuan a 1990s-born young person received during the 2010 Spring Festival, the report said.
The survey was conducted among 2,099 university and school students from China's five largest cities - Beijing, Shanghai, Guangzhou, Wuhan and Chengdu - between October 2010 and June 2011.
These young people decide how they spend their money, the survey discovered. It found that 84.3 percent of those surveyed said they would choose which clothes to buy.
They also have a significant say in family spending habits, even though they still depend on their parents for money. Nearly one-third said they made decisions about major purchases - including houses and cars - with their parents.
A substantial 63 percent had credit cards, the survey found.
Although being portrayed as the spoiled children of one-child families, the survey showed that the post-90s generation maintained a realistic attitude about consumption.
Only 13 percent of those surveyed reported that a brand was the first factor they considered while shopping, and 65 percent took both brand and practicality into consideration when making a purchase.
According to the survey, 70 percent said they considered both quality and price in shopping decisions.
They also pay a lot of attention to being stylish. The survey showed 47 percent considered a product's style and design to be the most important factors in personal purchases.
The survey also showed that 42 percent have shopped online at least once, and those who shopped online spent 193 yuan more each month than those who did not.
The pocket money for a middle school student averaged 382 yuan (US$61) a month in 2010, five times more than the 68 yuan per month found in the pockets of this demographic in a similar survey conducted 10 years ago, according to a report from Horizon Research Group, a Beijing-based independent research firm.
This was boosted by an average of 1,923 yuan a 1990s-born young person received during the 2010 Spring Festival, the report said.
The survey was conducted among 2,099 university and school students from China's five largest cities - Beijing, Shanghai, Guangzhou, Wuhan and Chengdu - between October 2010 and June 2011.
These young people decide how they spend their money, the survey discovered. It found that 84.3 percent of those surveyed said they would choose which clothes to buy.
They also have a significant say in family spending habits, even though they still depend on their parents for money. Nearly one-third said they made decisions about major purchases - including houses and cars - with their parents.
A substantial 63 percent had credit cards, the survey found.
Although being portrayed as the spoiled children of one-child families, the survey showed that the post-90s generation maintained a realistic attitude about consumption.
Only 13 percent of those surveyed reported that a brand was the first factor they considered while shopping, and 65 percent took both brand and practicality into consideration when making a purchase.
According to the survey, 70 percent said they considered both quality and price in shopping decisions.
They also pay a lot of attention to being stylish. The survey showed 47 percent considered a product's style and design to be the most important factors in personal purchases.
The survey also showed that 42 percent have shopped online at least once, and those who shopped online spent 193 yuan more each month than those who did not.
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