Chinese youth are wired and ready to spend
By Erina Lin, Wednesday 17 October 2007 at 22:30 :: General :: #713 :: rss
The 320-million strong young Chinese consumer group, between ages 16 and 20, have strong spending powers and a huge appetite for electronic media and foreign consumer goods.
A report from Pearl Research released last week reveals some insights for marketers interested in tapping into the growing youth market.
The report, The Phoenix Generation: Insight into China's Youth, also provides advice for those marketers who try to reach this lucrative youth market. The report indicated the 16-30 cohort has nearly $135 billion in spending power every year, Media Post reported.
Computers have a high penetration on young people in urban areas with Internet connections. Pearl Research said that 90 percent of their interview panel had played online or packaged games.
Young people in China are also avid consumers of foreign products, most of which come from American pop culture, including entertainers like Coldplay, Britney Spears, Linkin Park and Eminem, listed by panelists among their favourites. Chinese youth also have their favourite brands, which include Nike, Louis Vuitton, Sony and Nokia.
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