Young people pay attention to "emotional value" when shopping, and the popularity of fragrances and blind box products on Vipshop has increased significantly
2024-08-07
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Recently, the terms #Quan Hongchan shows pain bag##pain bed# have become a hot search on Weibo.
What is a "pain bag"? A "pain bag" refers to a bag full of cartoon characters and dolls. It is a manifestation of "pain culture". Bags, cars, houses, etc. can all become carriers of "pain culture". It can be said that everything can be "painful". In addition to pain bags, "grains" in the two-dimensional circle have also become popular this year and have become one of the most popular topics in the industry. The popularity of pain bags and grains reflects the demand of young people for emotional value from the side.
In today's fast-paced modern life, anxiety and stress are not uncommon. People pay more attention to self-care and emotional satisfaction, and the pursuit of healing and self-pleasing emotional economy has also emerged. Driven by this new consumption concept, young people continue to create new consumption scenarios. Collecting blind boxes, raising green plants, and customizing pinching toys have become a consumption trend. Open major social platforms and you will see many young people showing off their green plants, blind box collection cabinets, and plush dolls.
From an industry perspective, more and more brands have realized that the "interest value" and "emotional resonance" of products have gradually become key factors in consumer decision-making. E-commerce platforms have launched promotional activities to cater to consumer needs. Vipshop, a discount e-commerce company, recently announced that it will launch the "88 Vipshop Quick Grab Festival" at 8 pm on August 7, creating a consumption scene around the recent trend categories, with tens of thousands of big-name hot-selling products available for a limited time, Estee Lauder's Little Brown Bottle 100ML at a super value price of 489, Lancome Miracle Perfume at a low price of 229 yuan, Saffir's versatile gold chain at a low price of 1,395 yuan, and Swarovski's exquisite gift boxes at a low price of 20% off. There are also limited-time red envelope bonuses and limited-time "crazy seconds" activities at 8 pm every night, offering consumers the ultimate cost-effectiveness.
From the data, the sales of categories related to emotional value have grown rapidly. Influenced by the trend, the annual growth rate of the domestic perfume and fragrance industry has exceeded 20% in the past few years, among which the growth of high-end perfume has exceeded 30%. The Chinese business of international groups such as Inter Parfums and Coty has increased significantly or even doubled. According to the data of the Vipshop platform, since July this year, the sales of fragrances, aromatherapy lamps, and aromatherapy essential oil products on the platform have increased by more than 50% year-on-year. Gold, which meets the dual functions of "display" and "value" of young people, has also ushered in a small sales climax. The sales of categories such as gold beads and gold bracelets on Vipshop have doubled year-on-year.
Generation Z and millennials are becoming the main consumers of the "emotional economy". A relevant person in charge of Vipshop said, "In addition to fragrances and gold categories, the sales of trendy blind boxes and doll products on the platform have also grown rapidly since this year, among which users born after 1995 are the main consumer group. Consumers satisfy their emotional needs and personalized pursuits through shopping, and are also unwilling to give up quality and cost-effectiveness, which is in line with the consumption concept of today's young people."
Industry insiders say that the influence of "emotional value" on product sales is unprecedented, and can even directly influence a company's production and promotion strategies. The emotional economy that meets emotional demands and massages the soul is becoming a new fulcrum for leveraging consumption growth.
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