By love-89.com Consumer trends often serve as a reflection of market dynamics and societal shifts, illuminating changes in people’s lifestyles and values. As JD.com kicks off its 11.11 shopping festival, the JD Research Institute and JD Insights launched a survey to gauge consumer interest in the hot topics and buzzwords for 2024. The study analyzed search frequencies and online discussions to identify 32 candidate buzzwords, ultimately allowing users to cast their votes. The results showed that phrases like “affordable alternatives,” “trade-in for new,” “Chinese culture is trendy,” “omnipotent AI,” “younger senior citizens,” and “cross-industry collaborations” topped the list, receiving the highest votes.
**Cross-Industry Collaborations: A New Traffic Code for Brands**
With the rise of interest-driven consumption, consumers are increasingly valuing the emotional connections and cultural recognition behind products. Intellectual property (IP) collaborations have quickly become a significant traffic driver in the consumer market. The popular game “Black Myth: Wukong” has emerged as a national IP, inspiring various successful marketing cases across diverse product categories, from beverages to office supplies and home goods.
From January to September 2024, JD.com experienced a 146% increase in the number of collaborative 3C digital products, a 91% rise in household cleaning products, and over 100% growth in collaborative home goods, appliances, and beauty products. During a special event from August 19 to 20, sales for “Black Myth: Wukong” merchandise exceeded 15 million yuan, and game controller sales skyrocketed by more than seven times. According to third-party statistics, domestic brands engaged in 42 collaborative efforts around various entertainment IPs from mid-April to mid-May, driving not just consumer purchases but also fostering deep emotional connections between brands and consumers.
**Chinese Culture Takes Center Stage**
Traditional Chinese culture has gained heightened attention in recent years, with the New Chinese style evolving from a trendy choice to a mainstream phenomenon. Iconic garments like the Mamen skirt have ignited a cultural revival, while popular media such as “Just This Green” has brought national style into the spotlight. Traditional practices, including exercise routines and wellness therapies, have become integrated into the lifestyles of younger generations. Gu Aixin, the promotion ambassador for traditional Chinese textile heritage, noted, “More and more consumers are becoming fond of clothes and products that embody elements of traditional Chinese culture, demonstrating significant influence both domestically and globally.”
Domestic brands are also winning over consumers by blending traditional culture with modern design. Research indicates that higher-income users have greater recognition for domestic products; 52% indicate that these brands are increasingly seen as high-quality and reliable options. From athletic shoes to household appliances and vehicles, domestic brands have become synonymous with quality.
From January to September 2024, JD.com recorded over a 100% increase in hanfu sales and a 45% rise in cultural items. Domestic beauty brands are growing at three times the rate of international counterparts, signifying a robust interest in products rooted in Chinese culture.
**AI: The New Frontier**
AI technology is moving from concept to reality, becoming deeply embedded in products like smartphones, PCs, AR glasses, TVs, refrigerators, cars, and various home robotics. As 2024 marks the dawn of a new era for AI hardware, consumers are experiencing unparalleled convenience and enjoyment in their daily lives. Chen Xuegui, General Manager at Lenovo’s Consumer Internet Services Division, remarked, “AI is no longer just a tech buzzword; it’s permeating into everyday life.”
From January to September 2024, sales of AI-related hardware on JD.com surged over 230%, with user numbers growing by 150%. Sales of AI smartphones tripled, while digital and home appliances featuring AI functions also saw significant increases.
Project manager Chen Zhi recently purchased a Lenovo AIPC, which has vastly improved his work efficiency. Its built-in AI-driven features simplify complex tasks, making it an indispensable productivity tool.
**Affordable Alternatives: The New Consumer Standard**
“It’s not the high prices of big brands; it’s that alternatives provide better value for money.” On social media, terms like “price comparison” and “affordable alternatives” have become prevalent buzzwords. Influenced by rational consumption concepts, consumers are becoming more discerning, focusing on the balance of quality and cost. They are shifting away from blind allegiance to brands and high prices, favoring products that offer value.
Data shows that in the past year, the number of users purchasing products from JD.com’s 9.9 free shipping channel more than tripled. JD’s in-house brand, Jingxiao, now serves 170 million users, connecting with nearly 100 core consumer industrial zones across the country. JD’s cost-effective offerings, like its official discount store, now boast a fanbase over 100 million.
From high-priced imported fruits to affordable alternatives like domestic macadamia nuts, blueberries, and high-quality lamb, consumers are turning to economically viable options that maintain quality. Platforms like JD’s in-house brand attract rational consumers seeking better deals.
**Younger Seniors: Bridging the Generational Gap**
In China, the senior population is increasingly young at heart, with over 50% of those aged 60-69 being relatively youthful. They demonstrate higher levels of education, spending power, and adaptability to new trends, aligning their consumption habits with younger generations. JD.com’s data shows a rapid growth in younger senior users, with a 175% increase year-on-year in fast delivery services.
Yang Mingjiang, director of the Latin American Friends Choir, stated, “Trends don’t just belong to the youth; they apply to us in the third age, too.” A recent study conducted by JD’s Research Institute, involving dialogues with 1,000 participants from both age groups, revealed overlapping interests in spending habits, fitness preferences, travel destinations, skincare routines, and spiritual pursuits.
Older consumers are stepping beyond societal expectations, engaging with younger individuals and contemporary trends. JD’s data shows significant increases, such as a 165% rise in polaroid purchases and more than tenfold growth in cosmetic sample sales among older users from January to September 2024.
**Trade-in for New: Embracing the Circular Economy**
The trend of “trade-in for new” has gained momentum this year. Consumer needs have shifted from merely wanting products to demanding quality, and this convenient, eco-friendly trade-in model is enhancing living standards. Song Jianwen, General Manager of Hisense China’s Online Development Division, noted, “I see promotions for government subsidies across all channels, and word-of-mouth has made this trade-in initiative a big trend.”
Research shows that 55% of users wish to trade in old appliances and computers for new ones. The home appliance and digital sectors have seen growth amid economic challenges. Trade-in subsidies are making the circular economy more appealing, raising consumer awareness while boosting sales for businesses.
Mr. Wang from Chengdu recently decided to trade in his old refrigerator for a new model thanks to the trade-in policy, enjoying considerable savings with government subsidies. He remarked, “The trade-in initiative is both environmentally friendly and cost-effective, making it a consumer model worth promoting.”
From a quest for emotional value to embracing smart technology, returning to traditional culture, seeking cost-effective options, and witnessing the youthful transformation of senior citizens amid the rise of the circular economy, each consumer trend encapsulates profound social changes and individual choices. In today’s ever-evolving landscape, these trends reflect not only the shifting tides of the market but also the evolving lifestyles and philosophies of people.
This year’s JD 11.11 festival promises to provide a wealth of trending products centered around these six consumer buzzwords. On the evening of October 14 at 8 PM, JD.com will launch its merchandise with steep discounts, additional subsidies, and a plethora of new products and direct supplies from industry manufacturers to ensure consumers enjoy an affordable and gratifying shopping experience.
Join us for JD 11.11 this year!