2024-07-15
26 分钟Discussion keeps the world turning.
This is round table.
Child related consumption has risen to around 30% of domestic spending.
For many chinese families in shopping malls and at tourist spots, some of the most popular and vibrant businesses are those that attract children and their parents.
Hello, I'm Li Ming and this is roundtable today with new Ho Ling and Li Yi.
Let's find out whether this shift in consumption pattern is here to stay and what that could mean for businesses in the future.
Two things we need to highlight before we dive into the discussion.
Number one, we live in the age that's increasingly connected and online shopping is here to stay.
And I'm not sure about you guys, but in my home we've tried going to shopping malls and outlets to look for good bargains and deals, but oftentimes we come home empty handed.
And my wife would say offline shopping is so boring.
I much prefer ordering things online and if I don't like them, I return them for free.
It's so convenient.
And number two is, I'm not sure again, if you've noticed that everywhere you go in malls or outdoor spaces, oftentimes when you see people congregate, when there is a line, when there is a hustle, then oftentimes it's a business or an activity organized for children and their.
Parents, or a milk t shirt shops.
I don't know.
I am biased because I have a kid and you like milk teas.
I do go to different places with my kids and if I have to, well, when I say if I have to, actually mean when I need to have fun with my kid.
Home is definitely not the best place because the kid is so familiar with the environment.
And if you take him elsewhere to a playground or to a indoor playground in the mall, it's much easier.
So I am biased.