Post-90s are also retaliatory. Saving money experts are in a hurry and call out to spend more money: I don’t like changing mobile phones. How long has it been since you changed?
In 2022, the post-90s will love to save money. Among them, “young people aged 20-25 will also save a lot more than in previous years.”
A 2022 report by the Houlang Research Institute shows that among the 2,200 people under the age of 40 across the country, the post-90s generation, the main force in the workplace, has the largest proportion of monthly savings habits, accounting for 41.7%. The post-95 generation followed closely behind, also reaching 40.6%. In terms of the proportion of savings, the post-90s still have the upper hand among all age groups, with 30% saying they would save more than 50% of their monthly income.
The increase of young people’s savings is accompanied by the contraction of consumption. This can be seen from the adjustment of “milk tea farewell to the era of 30 yuan”, and it can be seen from the concept that “7 out of 10 young people put cost performance first”.
In addition, young people have increased their savings, which has also led to an intensification of the replacement cycle. There are those born in the 90s who procrastinate over and over again in order to change their mobile phones. At the same time, they also compare various discounts for the sake of cheapness.
Some consumers planned to complete it on Double 11, but it was not until Double 12 that Xiao Xiao finally realized it. Whether the price is more favorable is what Xiao Xiao cares about. Over the past month, Xiao Xiao compared Pinduoduo, Taobao, JD.com and other platforms, and finally found a 500 yuan coupon from an official Taobao store. Although it was much cheaper in the end, the mobile phone he bought was not Xiao Xiao’s favorite.
Because, after various comparisons, he found that there was a difference of 2,000 yuan between the two phones. Wouldn’t it be nice to use the saved money as living expenses? However, the mobile phone bought with a 500 yuan coupon has not been shipped due to logistics problems. During the waiting days, Xiao Xiao discovered that the phone he bought was 800 yuan cheaper on Pinduoduo. He didn’t struggle at all, and decisively returned the mobile phone on Taobao, and placed an order on Pinduoduo instead.
People are more budget-conscious when changing mobile phones, and the replacement cycle is expected to increase to 34 months, which has caused a sharp contraction in the Chinese smartphone market. From January to November 2022, the overall mobile phone shipments in the domestic market totaled 244 million units, a year-on-year decrease of 23.2%.
According to data from the National Bureau of Statistics, in the first three quarters of 2022, per capita clothing consumption expenditure was 991 yuan, a decrease of 1.1%; per capita education, culture and entertainment consumption expenditure was 1,790 yuan, a decrease of 4.2%. There are still many young people who still think, “Take the money for financial management, the time cost is too high, and you don’t need to worry about it in the bank, it’s good.”
Some people say that saving money is a good thing. Take young people as an example. When they have money, they will not be attached to their parents, but will be financially independent. Parents have no way to use their standards to interfere in the lives of young people. When to have a baby is up to you.
However, some people say that too much savings means that everyone’s income and purchasing power are declining. Young people are the main consumption force in the country, and domestic demand cannot be stimulated without consumption.