According to an article by Jasmine Bina for Jing Daily, Chinese Millennials are creating a new value system born out of their unique needs and experiences, and this is leading in turn to a new concept of luxury consumption.
Easy credit makes it easier for these Millennials to live for today than it was for their parents.
But they also want to be able to move seamlessly between yesterday and tomorrow.
Better command of English facilitates this.
Resultant trends in travel/tourism:
- Multi-generational trips are popular, as well as experiential, personalized and adventure travel..
- Nostalgia marketing is appealing.
- Global travel equates to empowerment for these Millennials, freeing them from traditional cultural boundaries.
- Connection to both the past and the future is an essential part of luxury.
Hmm. What information is there here that's actionable?
- Brand story needs to span past, present and future, and needs to fit with these Millennials' concept of what makes something "global."
- Nostalgia marketing might somehow be key to making that concept work.
- But be careful of using "Chinese" imagery - could be perceived as analogous to making pink versions of products for women.
- Accept forms of payment used by Chinese Millennials - especially those that let them travel now, pay later.