New trend in single economy!

The consumption trend of the consumer market is inseparable from the consumption preferences of users. With the changes in the social consumption environment, the single economy is a new driving force for business changes. This article summarizes how traditional brands and emerging brands should seize development opportunities and ride on the wave of consumption. Next, let's learn and discuss together.

The emergence of new brands is inseparable from the changes in user consumption preferences and social consumption environment. Whether it is the popularity of consumption patterns such as pet economy, single economy, customized consumption and single-person meals, or the general trend of Santonban, Yuanqi Forest, Zihaiguo, Wang Baobao, Wuling Hongguang and other brands that meet the diversified, younger and personalized consumption of consumers, it proves that the business formats spawned by singleism have ushered in the best development opportunity.

In addition, today's young people are highly educated and have a unique understanding of being single, which has led to a growing number of single people, triggering a new wave of consumption and bringing new opportunities and challenges to brands. At a time when new brands are constantly emerging and traditional brands are facing market changes, how can brands seize the wave of the single economy and usher in new development opportunities?

Today, let’s start with the new consumption models that have emerged under the single economy.

1. The single economy has become a new consumer force, causing changes in business formats

For a long time, single people have been the object of brand research. This group of consumers has stable jobs, more disposable income, and higher requirements for quality of life. In addition, they seek independence in spirit, maintain a strong curiosity about new things, and their consumption concepts are more novel, and they like to pursue consumption with obvious personalized characteristics. These many characteristics have led to collective consumption behaviors and phenomena among single users, and they are the key consumer objects for brand research.

In daily life, consumers who like to be alone and enjoy solitude believe that one should eat well and have a quality life and consumption. This has promoted the development of many industries such as the takeout industry, pre-prepared meals, mini home appliances, and small apartment property rights.

Image source: Tai Er Pickled Fish Weibo

In terms of entertainment and social networking, with the development of mobile Internet, the diversification of social media content, and the development and popularity of industries such as film, television, music, and games, those young people with social phobia have their own ways of entertainment and social networking. Mobile live broadcasts, online games, film and television dramas, etc. have become important ways for young people to relieve loneliness and socialize. The characteristics of social methods such as e-sports social networking and circle social networking have also become more obvious, which has also further expanded the market size of short videos, film and television dramas, and catering.

Changes in living habits, entertainment and social interaction have also led to earth-shaking changes in consumption patterns. The method of shopping while entertaining has become the mainstream consumption for young people, and sales methods based on live streaming have developed unprecedentedly. On the one hand, watching live broadcasts has become a way of leisure and entertainment for the public; on the other hand, with the improvement of shopping experience, live streaming sales that can interact in real time have enhanced users' impulse to shop, can help brands maintain good user relationships, and help brands accumulate user traffic.

2. What are the notable characteristics of the current single economy?

As the single economy becomes a new force in consumption, the development of commercial formats has also given consumers more consumption choices. What are the obvious consumption characteristics of the single group at present?

1. Users pay more attention to spiritual experience

The popularity of the concepts of self-pleasure consumption and hedonism is largely due to the fact that single people do not need to consider family consumption and mainly focus on their own consumer preferences. One of their purposes in choosing products is to please themselves, so single people have become the main group of people for entertainment, enjoyment, and development-oriented consumption.

Image source: RIO official Weibo

At the same time, single people are basically alone in their spare time, which makes companionship-related spiritual consumption a way for single people to relieve loneliness. For example, single people are more likely to pursue both cats and dogs because they are empty inside and need more spiritual companionship.

Whether it is the popular self-pleasing consumption or the pursuit of having both a cat and a dog by single people, it indirectly proves that single people pay more attention to spiritual consumption, maintain a very high favorability towards brands that understand users and are willing to accompany them in their growth, and are more willing to choose such brands when they have needs.

At the same time, in addition to work, this group of people has a special liking for consumer goods and services.

The picture comes from Honor Creative Advertising

2. Decision-making is arbitrary, and the trend of consumer segmentation is becoming more obvious

Today's single people are mostly young people who are deeply influenced by popular consumption concepts, fashion aesthetics and social trends. They advocate a refined, healthy, fashionable lifestyle that can show their own personality. In terms of consumption preferences, they are sensitive to those personalized, novel, fashionable and healthy products.

Deeply influenced by Internet thinking, today's young people highly respect concepts such as "the world is so big, I want to see it", "worshiping Buddha in temples", and "punk health preservation", which has led to the popularity of consumption forms such as refined poverty, self-pleasing consumption, and the rejuvenation of the tourism industry.

The consumption decisions of single people are greatly influenced by popular trends on the Internet, which makes their consumption more casual. In the case of involution of consumption, if brands want to impress users, they have to work hard on consumer segmentation, use more precise marketing and products to impress users to consume, and enhance the brand's market influence and competitiveness.

3. Convenient, fast, small and beautiful, successfully leveraging market consumption

In addition to paying more attention to the sense of companionship and the randomness of decision-making, single people's consumption also puts forward new requirements for housing, home furnishings, life, travel and other products because they live alone. The living conditions and space of single people determine that they want their means of transportation, household appliances, and meals for one person to be exquisite and practical. In terms of practical products, they prefer products with exquisite design, superior performance and strong sense of design; in terms of food, they have a high interest in high-value, novel and unique meals for one person.

Image source: Baojun official Weibo

Influenced by living conditions and consumption characteristics, brands have begun to make tremendous changes in product design, business philosophy, brand services, etc., making more convenient and fast services as well as small and beautiful products that meet users' life and work needs gradually popular in the consumer market.

4. Experience-based consumption of playing and shopping becomes a new trend

For single people who are socially anxious and like to be alone, the consumption experience is paramount. In addition, they mainly spend their spare time watching live broadcasts and browsing social media, which naturally makes watching, playing and consuming the mainstream consumption method for single people.

Taking live streaming sales as an example, consumers can choose anchors who sell poetry and distant places as the main selling point and supplementary selling points, or they can choose live streaming rooms that allow free bargaining. The former can broaden consumers' horizons and increase their knowledge, while the latter allows consumers to have a bargaining process. If the bargaining is successful, it can bring spiritual satisfaction to consumers. This also allows experiential consumption formats represented by live streaming sales to usher in their own spring.

Image source: Oriental Selection Weibo Video Account

In addition, the consumer market has also produced many shopping centers that integrate "travel, shopping, shopper products, and entertainment", providing users with more choices.

In the end, it is obvious that most of the current singles business formats are designed to help users solve their loneliness. Whether it is spiritual satisfaction or increasingly segmented consumption, it makes consumers' lives more warm, and also highlights the brand's affinity and warmth from the side. At the same time, the rise of new consumer brands and the resurgence of old domestic products have proved that singles represent strong purchasing power and market appeal.

Let’s wait and see what other popular consumer trends will emerge in the consumer market in the future.

Author: Mr. Bingfa

Source: WeChat public account "Marketing Art of War (ID: lanhaiyingxiao)"