Buyers from 1990s top confidence chart

Post 90s girl Wang Shumin chooses snacks at a supermarket in Wuxi, East China's Zhejiang province, Sept 8, 2015. [Photo/IC]

China's post-1990 consumers posted the highest consumer confidence in the second quarter of the year, due to their optimism on job prospects, personal finance and willingness to spend, the latest survey from consultancy The Nielsen Co showed on Friday.

Their Consumer Confidence Index stood at 110, higher than that of any other age group, followed by the post-1960 (108) and post-1980 (105) generations, according to the survey.

"The post-1990 consumers are more open to new things and have a strong willingness to spend, therefore creating lots of opportunities for all types of businesses," said Eva Ng, vice-president of Nielsen China.

"Moreover, they don't have a high brand loyalty. Though they don't have too much money at the moment, they will emerge as a very important consumption power within five years," she added.

According to the survey, 25 percent of people born in the 1990s are willing to buy new products, higher than the generation born in the 1980s (19 percent) and 1970s (21 percent).

Online shopping is extremely popular among the post-1990 segment. The survey showed that 93 percent of them have shopped online in the past three months, and 71 percent of them will go online shopping in the next six months.

The overall Nielsen Consumer Confidence Index increased one point to 106 in the second quarter, indicating that Chinese consumers are adjusting to the new normal of economic growth and their confidence level remains stable, the consultancy said.

"Nielsen's research shows that not only the economy adjusted to a comparatively lower growth with a better quality, but also that consumers have adjusted their consumption habits to adapt to this new trend," said Yan Xuan, president of Nielsen Greater China.

"As a result, the CCI remains stable in the first half of this year, and we are witnessing Chinese consumers' consumption behavior also entered a 'new normal'."

According to the report, consumers were more optimistic about job prospects and personal finance during the first half of 2016 than they were in the second half last year.

huyuanyuan@chinadaily.com.cn

 

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