Emotional consumption is expected to become a new hot spot

As we explore the changing dynamics of consumer behavior, a notable trend emerges: younger generations are shifting from the mindset of “buying products to make themselves happy” to “purchasing items that create happiness.” This transition highlights a deeper desire for emotional fulfillment and a sense of well-being, rather than just acquiring goods.

Young consumers are increasingly becoming the momentum behind market trends, showing a growing need for emotional satisfaction and mental enjoyment. The merging of shopping with emotional wellness has led to a consumption wave focused on the concept of emotional value.

The “2023 Annual Report on Consumer Rights Protection,” published by the China Consumer Association, predicts that in 2024, emotional release will play a significant role in young consumers’ purchasing decisions, alongside their search for cost-effectiveness. This shift is expected to create new hotspots in the marketplace.

The trend of investing in emotional value is gaining traction. For instance, while shopping in Beijing’s Chaoyang district, consumer He Kai shared his experience: “When I’m stressed from work, I often buy stress-relief toys, like fidget spinners and stress cubes. They’re not expensive, but they truly help me relax.” For He and many others, the motivation behind buying these toys is less about practicality and more about finding joy amid life’s pressures.

In Shanghai, Li Yingying, a fan of stress-relief toys, frequently purchases meaningful desk ornaments online, such as hydroponic four-leaf clovers symbolizing “endless good fortune” or vibrant keyboard stickers inscribed with the Chinese character for “blessing.” “Seeing these items lifts my spirits and makes me happy,” she expressed.

More consumers are now willing to spend for emotional value. On e-commerce platforms, a carrot-shaped stress-relief toy priced at around five yuan sold over 100,000 units. Similarly, products that provide emotional comfort, such as phone cases with motivational messages and themed t-shirts, are becoming increasingly popular.

What distinguishes current consumer needs is that the practical utility of these emotional products is often minimal; some even exist solely in virtual form. It’s not uncommon to see listings stating “virtual products do not require shipping.” Last year, the product “Einstein’s Brain” notably appeared on Tmall’s annual top products list, marking the debut of a virtual good on this ranking. This trend underscores a growing niche in emotional value services, where sellers promote an image of Einstein at a low price, providing customers with encouragement through chat post-purchase. While “Einstein’s Brain” may seem trivial, it suggests noteworthy market potential. Young entrepreneur Zhang Jianqian from Xingtai recognized this demand, achieving 70,000 sales in her online store within a year. Other virtual products, such as virtual mosquitoes and lonely frogs, have surpassed a million units sold.

Items like “Einstein’s Brain” and “Don’t Be Angry Ruler” cater to the curiosity and emotional needs of young people. Nan Yu, a researcher at the Chinese Academy of Social Sciences, points out that emotional consumption seeks to fulfill spiritual needs through emotional release, experiences, and enjoyment, characterized by the virtualization of products, symbolic behaviors, and psychological compensation.

This shift has birthed new consumption scenarios and innovative business models. Young consumers are exploring diverse avenues for emotional consumption, including “emotional diaries,” “wake-up and sleep aids,” and “heartbreak comfort services.” Their willingness to invest in emotional value is continuously creating fresh consumption contexts, leading to offline ventures centered on healing, meditation, and DIY crafting. The “2024 China Young Consumer Trends Report” reveals that nearly 30% of young respondents engage in consumption aimed at emotional therapeutic relief.

For white-collar worker Zhang Ni in Beijing, crafting serves as an essential escape from work stress. “When I have a lot on my plate, I turn to activities like weaving, pottery, or flower arranging. They not only help me relax but also allow me to enjoy the process of creation.” This sentiment is echoed by many consumers, who seek outlets for their emotions amidst their busy lives.

Another young consumer, Li Haoyu, has developed a fondness for therapeutic services. “I often indulge in mindfulness meditation and aromatherapy spas. These experiences help me reconnect with the present moment and unwind,” he explained, relishing the comforting scents of essential oils in soothing environments as he willingly pays for this emotional nourishment.

Data from the Meituan platform indicates a staggering 256% increase in search volume for the term “healing” since the start of 2023. Concurrently, the availability of healing services is rapidly expanding, with over 1,000 new services launched each month, a considerable portion of which falls under the “healing + spa” category.

Nan Yu observes that the eagerness of young consumers to pay for emotional value reflects broader societal shifts towards higher living standards and individual happiness. The pursuit of positive emotions increasingly influences consumer choices, evolving into a distinct consumption model that shapes spending priorities. Concurrently, the pressures of modern life contribute to a rise in emotional consumption needs, driving young people to seek emotional outlets. Many face escalating stress related to work, family, income, and health, fostering a transition from functional to emotional consumption.

As we observe this evolution from “buying a product to make myself happy” to “purchasing something that brings me joy,” experts suggest it is not just about the items themselves but also about achieving a form of “soul-soothing” emotional relief.

With over 3,700 patents related to “emotion” registered, it’s evident that businesses are increasingly attuned to exploring emotional value. “The youth’s willingness to pay for emotional value will inspire companies to innovate new consumption scenarios, paving the way for a unique emotional economy,” Nan Yu stated. Businesses are encouraged to prioritize emotional engagement and enhance consumer experiences while providing products and services that resonate with these emerging trends.

However, this trend in emotional consumption also presents challenges. The absence of regulatory oversight in the “emotional consumption” market leaves room for potential issues, such as privacy violations, inappropriate services, and unreasonable charges.

In light of this, Nan emphasizes the necessity for proper guidance and regulation within this emerging consumer landscape. Strengthened oversight in the emotional goods market, the establishment of clear legal parameters, the creation of industry standards, and the implementation of effective complaint and alert systems are essential to mitigate potential risks and disputes. Consumers, too, are encouraged to exercise discretion, make informed decisions when purchasing virtual goods, and protect their personal information and privacy. As some emotional consumption acts as virtual substitutes for social interactions, it has the potential to enrich real-life connections and more effectively meet emotional needs.