In 2013, there are about 2.56 million students in Chinese universities, including undergraduates and postgraduates’ students. According to latest report in China, the average monthly expense by Chinese undergraduates is 945.6 RMB and their annual expense has reached 11347 RMB. This figure is more than half of national urban per capita disposable income. And the total students market in China could be reaching 29 billion RMB. In terms of region, students in the North East and along the East Coast tend to spend more money than students from other parts of China.
Major trends on students market in China
Currently, shopping though credit card and online shopping has already become two major consumption modes among undergraduates, almost 46.1% students begin to use credit card and online shopping once they go into the university. Today`s students usually have two credit cards on an average.
Chinese students have great purchasing desire. Their interests range from 100% organic juice to Adidas clothes, from high-end mobile phones to laptops. Some students even consume more than ordinary white collars. Many students earn money through part-time jobs, especially those in more developed areas like Beijing, Shanghai, or Guangzhou. Apart from basic expense on living and study, students market in China also includes electronic products, dating, games and other leisure.
University students live a community life in China. Thus, mutual information change is very quick and effective. This feature contributes to product promotion in highly-concentrated area, such as places near canteen or student supermarkets. Around the campus, it is quite easy to find book shops, video shops, cosmetics, clothes, KTV, net bars, pool rooms, bars & restaurants.
With the social and economic development, consumers` opinions and psychology has evolved greatly and it does have an impact on Students market in China. Today`s students become more concerned about their health condition and appearance. While female students spend more money on hair & body salons, beauty parlor, male students go more to fitness centers.
Besides, in face of unfavorable employment circumstances, students is putting more emphasis on self-development, taking more online & offline courses to polish empirical or academic skills. Various tutorial classes for national professional certification, language skills, IT skills as well as online courses taught by famous universities are very popular.
Innovation and branding are crucial on students market in China
Apart from quality and price, students, especially urban students, care more about fashion. Students who have worshiped for stars are easily attracted by advertisements endorsed by celebrities and want to try the same thing. Some students buy fashionable products for a demonstration of independence; some buy to show their superiority over others. It is important to understand students` psychology.
Innovation is another selling point in students market. For example, in 2012, a student in Wuhan developed a kind of solar-charger for mobile phones and attracted many students to buy and even introduce the charger to their friends. These small articles lure students to try.
Students market in China is substantial, elastic, with great continuity and plasticity. Successful branding among students can lead to a brighter future for the company when these well-educated groups grow older and become loyal to certain brands.
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