By Lin Bai | Tuesday, June 30, 2009
As one of China’s post-80s generation (aka Generation Y), I still remember my glory days in high school. A pair of Nike Michael Jordan sneakers, a Motorola pager, or a Giant-brand mountain bike – and you were the most popular kid in your class.
For reference, in Mainland China, the post-80s generation refers to those born after 1980 and before 1990. And according to China’s census yearbooks, 200 million babies were born during this time period, 90 million of them in urban areas. How many is that? 90 million is more than the population of the top 3 states in the United States: California, Texas, and New York. I don’t know about you – but, that’s a lot for one generation.
They have been labeled as “spoiled, egotistical, self-centered, and rebellious”. While I may not fully agree with those kind words (my mother thinks otherwise), my personal thought is, in reality, my generation happened to be born into the most technological, most highly advanced networked age to date. With that, we are more concerned about social responsibility and smart investing than any of our predecessors.
In 2009, the youngest are 19 years of age – and this generation is playing an increasingly important role in China’s consumer market, gradually becoming one of the most lucrative segments ever coveted by marketers, the so-called China “gold mine”.
Why is this generation the “Gold Mine”?