Core Insights - The traditional luxury consumption patterns among the "old generation" (老登) are rapidly changing, with a noticeable decline in the demand for high-end liquor, luxury watches, and fuel vehicles [1][10][17] - Health consciousness is becoming a significant factor influencing the spending habits of this demographic, leading to a shift towards more practical and health-oriented expenditures [12][20][24] Group 1: Changing Consumption Patterns - The once-stable consumption triangle of high-end liquor, luxury watches, and fuel vehicles is deteriorating, as evidenced by the decline in sales and value of these items [1][10][17] - The price of luxury watches, such as the Rolex "Green Gold Daytona," has dropped significantly from over 1 million yuan to around 400,000 yuan, indicating a collapse in asset value perception [9] - The white liquor market is experiencing a downturn, with the price of Moutai dropping to around 1,499 yuan per bottle on platforms like Pinduoduo, reflecting a broader trend of reduced demand [10][12] Group 2: Health and Lifestyle Changes - The older generation is increasingly prioritizing health over traditional drinking culture, with many reducing their alcohol consumption significantly [12][20] - There is a generational shift in drinking preferences, with younger individuals opting for lighter alcoholic beverages instead of high-priced liquor, indicating a cultural change in social drinking norms [14][15] - The focus on health has led to increased spending on medical services and wellness products, such as health check-ups and medical insurance, rather than luxury goods [20][24] Group 3: New Interests and Activities - The older generation is now investing in experiences, such as travel and leisure activities, rather than material possessions, with a notable increase in travel bookings among those aged 55 and above [19][22] - Concerts and live events are becoming popular among this demographic, with a significant rise in attendance from individuals aged 45 and above, indicating a shift towards experiential consumption [22] - The market for luxury goods is evolving, with former luxury consumers seeking more practical and fulfilling alternatives, such as gardening and family-oriented activities [24]