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新消费:当情绪价值成为“刚需”
淡水泉投资·2025-06-12 00:16

Core Viewpoint - The article discusses the evolution of consumer behavior in China, emphasizing the shift from basic survival needs to emotional and experiential consumption, driven by economic development and demographic changes [4][5][15]. Group 1: New Consumption Trends - The concept of "new consumption" has gained traction, with examples like a rising cosmetics brand achieving a valuation exceeding $10 billion within four years of its establishment [3]. - Consumers are increasingly focused on emotional satisfaction and self-fulfillment, moving beyond mere product functionality [4]. - The 95 post-90s generation has become a significant consumer force, with annual spending reaching approximately 8-9 trillion yuan, accounting for nearly 50% of sales during major shopping events [5]. Group 2: Emotional Consumption Drivers - The transition to an "atomized" social structure has led to the rise of emotional consumption and the single economy, as traditional social ties weaken [5]. - The COVID-19 pandemic and geopolitical uncertainties have heightened the demand for emotional consumption, with the market for concerts expected to grow from 12 billion yuan in 2019 to 45 billion yuan by 2024 [15]. - Emotional consumption has shifted from being optional to essential, as consumers seek to maintain psychological well-being in uncertain times [15]. Group 3: Brand Power and Market Dynamics - The success of a consumption model relies on the ability of companies to manage brand power, which is increasingly influenced by product quality and distribution channels [10]. - The shift from traffic dividends to content dividends means that strong product quality is essential for gaining market share in a fragmented channel environment [12]. - The capital market views assets that can be priced based on emotional value as scarce growth opportunities, less affected by economic cycles and geopolitical risks [18]. Group 4: Challenges and Future Outlook - The core driver of new consumption is consumer passion, which translates into strong purchasing intent and high repurchase rates [19]. - However, sustaining this passion is challenging; only brands that can elevate their products to art and cultivate a loyal customer base will thrive in the long term [19].