Core Viewpoint - The article discusses the emergence of "emotional value" in consumer behavior, highlighting a shift from functional and practical consumption to a focus on individual expression and emotional satisfaction in the context of economic changes [4][18]. Group 1: Emotional Value - Emotional value refers to the additional value of a product beyond its functionality and practicality, often tied to design and aesthetic appeal [4][5]. - The current consumer market reflects a transition to a "third consumption era," where the focus shifts from basic necessities to personalized and segmented demands [4][18]. - Emotional value is characterized by a detachment from functional attributes, allowing for premium pricing based on consumer sentiment rather than utility [5][19]. Group 2: Market Dynamics - The rise of companies like Pop Mart illustrates a significant change in consumer preferences, where emotional value can drive sales even in a downturn [5][20]. - The traditional logic of basic consumer goods, which relies on quantifiable metrics, contrasts sharply with the more subjective nature of emotional value [6][16]. - The phenomenon of "useless premium" emerges during economic downturns, where consumers still seek non-essential items for psychological comfort, despite a general trend towards frugality [10][12]. Group 3: Consumer Behavior - Younger consumers are increasingly willing to pay for non-functional items, reflecting a desire for self-expression and emotional fulfillment [19][25]. - The concept of "lipstick effect" is mentioned, suggesting that consumers may indulge in small luxuries during tough economic times, although this idea lacks empirical support [12]. - The article posits that as economic conditions worsen, the appeal of emotional value may grow, providing a channel for the release of existing wealth [15][25]. Group 4: Case Studies - Pop Mart's success is attributed not only to its product design but also to the founder's genuine passion for the collectible toy market, emphasizing the importance of emotional connection in business [23]. - The article contrasts the performance of luxury brands like BMW, which continue to thrive despite economic challenges, with more traditional consumer goods that face risks of being "replaced" or "segmented" [20][21]. - Lululemon's strategy of extracting abstract value from functional products demonstrates how brands can successfully navigate the shift towards emotional value [20].

Core Viewpoint - The article discusses the evolution of consumer society in Japan, as analyzed by sociologist Minoru Miura in "The Fourth Consumption Era," highlighting the shift from material wealth to social connections and meaningful consumption [2][10]. Group 1: Four Stages of Consumer Society - The development of Japan's modern consumer society is divided into four stages: 1. First Consumption Era (1912-1941): Characterized by industrialization and consumption limited to the wealthy, focusing on Western lifestyle and goods [4]. 2. Second Consumption Era (1945-1974): Post-war economic growth led to mass consumption, with a focus on essential appliances known as the "three sacred treasures" (TV, washing machine, refrigerator) [4][7]. 3. Third Consumption Era (1975-2004): Transition from quantity to quality in consumption, with an awakening of brand consciousness and a shift towards personalized and differentiated needs [4][7]. 4. Fourth Consumption Era (2005-2034): Emphasis on social connections and meaningful living, moving from materialism to a focus on sustainability and human relationships [5][7]. Group 2: Transition from High Consumption Society to Fourth Consumption Era - The transition from the third to the fourth consumption society is marked by five key characteristics: 1. Shift from individualism to social consciousness, moving from self-interest to altruism [11]. 2. Transition from private ownership to a sharing mindset [11]. 3. Change from brand obsession to a preference for simplicity and leisure [11]. 4. Movement from a focus on Western ideals to a greater appreciation for local and national identity [11]. 5. Realization of the shift from material goods to service-oriented consumption, emphasizing human connections [11]. Group 3: Changing Perspectives on Consumption - As society matures, the demand for material goods diminishes while the desire for fulfilling interpersonal relationships increases, indicating a shift in how consumption is perceived [13]. - Consumption is viewed as a means to enrich life experiences rather than merely a transactional activity, emphasizing the importance of time and relationships over material accumulation [13].