Gen Z and Millennials in China are becoming big spenders. Investors are betting big on the next generation of spenders—a.k.a. people ages 12-26-years-old—who make up China’s wealthiest and highest-income groups, according to Asian investment firm CLSA. This generation of young people is known for spending more on housing, food/beverage, and leisure-activities, and analysts are betting that Bilibili, Pop Mart, and Luzhou Laojiao will continue making strides with China’s Gen Z. Bilibili is launching a dating-themed reality show in July, Pop Mart is playing on Gen Z’s experiential attitude with “blind boxes”—a.k.a. the adult version of toy unboxing—and liquor brand Luzhou Laojiao has opened several pop-up stores while collaborating with ice cream and perfume brands to personalize its offerings. (CNBC)
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