Consumption Analysis: The Growth Of Men'S Consumption Power: Why Can "Black Men" Buy Half Of The Sky?

In the past, men were often neglected in the field of consumption. Even Ma Yun's father said as early as 2015 that women are the main force of consumption, and seizing women will seize consumption.

However, time has changed, and now men's consumption is rising, and the purchasing power of this group has gradually overtaken that of women. Moreover, its consumption field is extremely wide, and "other economy" highlights the strong market potential.

Why can "black man" buy half the sky?

"Men from Mars, women from Venus", men and women think very different, doomed to different consumption patterns.

Compared with female consumers, male consumers have shorter shopping decision-making time and lack of patience. Moreover, they are not prone to impulsive consumption. Once they recognize a certain brand, they will always buy the product and rarely bargain. The differences between men and women in the consumption patterns lead to the illusion that women are more keen on shopping. Therefore, the female groups who frequently appear in the consumption scene are easily mistaken as the absolute main force of consumption by the outside world.

With men's constant pursuit of career and social status, the market prospect of "his economy" will be immeasurable. Aware that external image and personal temperament have become an indispensable part of the workplace, many male consumers' potential in many areas of consumption is constantly impacting people's three outlooks, even compared with women. Whether it is self-image management or aesthetic consciousness, men have made great progress, and the boundary of consumption is also expanding.

The comprehensive research report on life style and demand of high-end men released by CMB and GQ Zhizu shows that about 70% of high-end consumers are men, most of them are elites born in the 1960s and 1970s, holding important positions, with an average annual salary of 500000 yuan and an average annual family income of more than 760000 yuan. Male consumers of this age group have accumulated a certain amount of wealth and social status, and their consumption ability and consumption level are far higher than those of other age groups.

In the sixth census data, the number of single men is much higher than that of single women in China. Among them, there are 22.6 million more single men aged 20-29 than women, 7.16 million more than women in 30-39 years old, and 3.93 million more than women in 40-49 years old. Among them, there are a lot of high-quality "leftover men". Most of them are white-collar workers with bright careers. They have more disposable income and no pressure to raise children. Therefore, they can spend money leisurely and enjoy quality life.

In addition, with the vigorous development of the Internet, e-commerce has become popular, express delivery, mobile payment, VR / AR technology, black technology and other fields are further mature, which makes the shopping mode of male consumers seeking efficiency and convenience to a great extent satisfied. According to a research report published by Boston Consulting, the types and amount of consumption by men in China are increasing, while the average annual expenditure of men exceeds that of women in terms of online consumption.

It is not difficult to see that, compared with the well cultivated female consumer market, "he economy" is expected to usher in long-term sustainable growth.

TA people seize the blue ocean of "other economy" consumption

With the change of self-worth awareness and consumption upgrading concept, many male consumers begin to shop different types of products to show their ability and charm, and then realize the recognition of their own lifestyle and value. These changes have also quietly promoted the prosperity of the male consumer market. Many brands and entrepreneurs have begun to target male consumers' wallets in different fields.

Live broadcast of e-commerce

E-commerce live broadcasting can not only bring new consumer groups to men's wear brands, but also leverage the shopping habits of original male consumers and increase their consumption frequency.

At the beginning of this year, Luo Yonghao completed his debut in the field of live broadcast e-commerce, and opened a new track about the straight men market in the field of live broadcast with goods. According to the user portraits of laoluoshuyin, 80.95% of the fans are male, mainly between 18 and 35 years old. Among its goods, food and beverage, 3C products and household appliances accounted for 32%, 23% and 18% respectively. Obviously, this live broadcast is dominated by male consumers.

On the other side of the room, douyu also launched a low-key live e-commerce business at the same time, mainly aimed at "straight men". In March this year, Fengfeng No.3, the anchor of the fish fighting platform, successively carried out live broadcasting with goods in Ningbo Wanda ADI store and Nike store, bringing in nearly 6 million sales in total

And men's clothing brands are not willing to be outdone. In recent months, the online channels of brands under the group are particularly active. According to incomplete statistics, in the first eight months of 2020, the total transaction volume of GXG through live broadcasting and small programs exceeded 200 million yuan.

Luxury, fast fashion, local clothing

Men's wear is becoming a new driving force for the development of luxury brands. In addition to making efforts in the wristwatch market, many brands have increased the opening of exclusive men's clothing stores or the sidelines related to men's clothing brands, which also indicates that different industries are beginning to make efforts in the new middle-class men's consumer market.

In July this year, LV Shibuya men's exclusive store, the world's first men's flagship store, opened in Tokyo. It mainly sells men's wear, shoes, jewelry, accessories and store restricted products, as well as items from Lv's lifestyle series objets nomades collection.

With the popularity of the concept of "no gender" in recent years, today's male consumers are no longer afraid of bright colors, such as yellow and pink, which were only used in women's clothing. Even skirt, thick soled boots and tulle materials have become common styles in men's clothing stores. For example, Dior launched a number of pink suits and floral shirts in the spring and summer series of 2019.

In the field of fast fashion, in 2019, cos, a high-end brand of H & M group, opened the world's first men's clothing store in Sanlitun, Beijing. Although the store covers an area of only 174 square meters, it covers a custom furniture rest area with selected items and books.

As for local brands, in April 2018, Jiangnan cloth clothing launched Samo, a men's clothing designer brand with professional men as its customers; as of August this year, taipingniao men's clothing has co branded 16 brands, among which the co branded series cooperated with Fanta has released its brand's deep cultivation of youth culture.

Make up

In recent years, with the rise of the new middle class, men begin to care about their own consumption outside their career and family. For example, the consumption related to appearance and body begins to increase.

In the first three quarters of this year, a total of 22 new cosmetics brands were financed, including 4 male care brands. No matter big brand cosmetics or new brands have been focused on the men's cosmetics market segment. For example, Dior and Chanel recently launched new men's products, attracting more than 45% of male users to buy; amore launched its men's color brand bilodi on tmall global in April this year, which includes men's foundation, lipstick and eyebrow pencil. At present, amore's official overseas flagship store and Taobao C store are available for sale.

In addition, men's consumption in medical and aesthetic fields should not be underestimated. In the past year, the average customer price of men's medical and beauty services was 7025 yuan, 2.75 times that of women's, according to a report by China Medical Beauty website Xinyang. Among them, the post-90s male is the key consumer group, and their main consumption of medical and aesthetic treatment is hair transplantation.

The author estimates that the consumption space of men will continue to rise after the consumption "houlang" after 00 has independent consumption ability.

Automobile, e-sports, 3C home appliances

As we all know, men are born with cars. Although the car belongs to the low-frequency consumption category, it has also become a more expensive consumption hobby for men. In response to this trend, more and more automobile brands have opened experience stores, and even opened stores to shopping centers. For example, Mercedes Benz, Porsche, Lingke, Weilai and other brands, the car experience stores opened by TA in the shopping center are no longer traditional 4S shop mode, but enhance the product experience through scene creation.

With the development of information technology, notebook, tablet computer, computer accessories, mobile phones, cameras and other 3C products are more and more popular. And male consumers have become the main force of 3C products shopping. This year's double 11, double 12, many male consumers have become 3C digital products "tail money people.". Apple, Xiaomi, Lenovo and other brands have set their own sales records.

At the same time, the consumption of 3C products by male consumers gradually presents a trend of high-end and fine differentiation. Before purchasing, they will first understand the products by reading the talent evaluation, offline experience trial, friends' word-of-mouth planting grass and so on. Many domestic shopping centers have begun to follow suit. 3C experience stores such as apple, Huawei, Xiaomi and Shundian have become the standard configuration of shopping centers.

In addition, with the continuous development of e-sports industry, the marketing value of E-sports events is gradually highlighted. Many domestic shopping centers have also begun to introduce E-sports venues, video game city, E-sports hall, extreme sports and other formats to "harvest" male consumers, hoping to find new ways to communicate with them, such as Tencent video good time in Shenzhen zhuoyuehui, Nova E-sports hall in one square city, etc.

Summary:

The growth of male consumption power is a new economic growth point for the market, and it also creates a new "landscape" in the field of real business. Under the "other economy", the whole market will develop in a more diversified direction, the consumption space of men will continue to rise, and the new experience formats related to men will contain huge consumption potential.

Therefore, shopping centers and brands need to adopt differentiated marketing strategies to find new consumption support points for different age groups and different male consumer groups. At the same time, it is also necessary to "suit measures to local conditions", aiming at the diversified consumption behaviors of different categories of male consumers, we should not only respect gender, but also emphasize individuality. In this way, we can really win the hearts of a new generation of men.