'Smart' young shoppers know when the price is right

With an eye out for discounts and good deals, frugality is the new buzzword for the youth, study reveals.

Young shoppers in China are finding out that you really don't need to blow your money in order to shop till you drop. A yuan saved here, a yuan saved there might just do the trick. You only need to know where to look. So, what's better than scouring supermarkets for discounts or leveraging digital platforms for deals?

In a society that has rapidly transformed from scarcity to abundance, these young consumers are carving out a middle path—one that balances the pleasures of consumption with the security of savings.

The 2024 Interesting Lifestyle Report by China Newsweek further illuminates this trend. It reveals that 46. 7 percent of respondents are attracted to significant discounts, indicating a more calculated approach to spending.

For instance, they're now"conquering"supermarkets, particularly the discount sections. This isn't necessarily due to lack of funds, but rather a newfound awareness of price value.

Wu Mei, a 30-year-old living in Shenzhen, Guangdong province, shares her journey of smart shopping. "I started paying attention to supermarket discounts when I was in university. In 2020, I began going to the gym in the evenings, and I'd finish around 9 pm, just in time to stop by the supermarket and check out the discounted goods, "says Wu.

She mainly focuses on items for daily needs, such as buy-one-get-one-free fruits, 50-percent-off vegetables, 20-percent-off beef and salmon, and almost expired milk and juice that are also buy-one-get-one-free. She also stops by the bakery near her home, tracking the discount times and offers, choosing discounted products based on her preferred flavors.

The discounts may not be significantly high but for Wu, this habit evolved out of practicality. "Sometimes, the savings are just a few cents, and promotions change frequently. I've learned to recognize the pricing patterns. If you understand the general cost of items, you know when a discount is worth it, "says Wu.

The sentiment is echoed by Lu Yu, a 24-year-old corporate clerk from Fuzhou, Fujian province. Lu's initiation into the world of discount shopping was sparked by late-night walks that took her past supermarkets during their markdown hours.

"I remember seeing people swarming around the fresh produce section at a Hema(Freshippo)store, I found it fascinating, "she recounts with a chuckle. Since then, she often goes out for walks in the evening, and the supermarkets are part of her route. For Lu, one of the highlights of discount shopping is the thrill of finding good deals on quality items.

"The fun part is realizing that the same product from earlier in the day is now being sold for a fraction of the price. The challenge is making sure you pick out the items that are still in good condition, especially when it comes to fresh food, "says Lu.

The rise of this frugal mindset among young Chinese consumers is not just anecdotal, but often rooted in experiences abroad. This trend is exemplified by Liang Jinjin, a 30-year-old baker from Foshan, Guangdong province, whose three-year stay in Australia while pursuing her master's degree from 2018 to 2021 significantly shaped her approach to saving money.

"The habit of paying attention to supermarket discounts comes from when I lived in Australia. Every week, there would be regular supermarket promotions, which cut my monthly expenses into half, "says Liang.

Upon returning to China, she found that while the shopping landscape had changed, her frugal mindset persisted.

"Ten years ago, we relied on newspaper discounts and big flyers at supermarkets. Now, with e-commerce so developed, most people don't pay much attention to discounts anymore. Whatever you want to eat can easily be ordered online, "says Liang.

Despite the convenience of online shopping, Liang and many of her peers continue to seek out in-person bargains, especially in large cities.

Liang points out that most discounted products in supermarkets tend to follow a regular pattern of half-price or even greater discounts, especially at fixed times. There are also regular discounts on fresh food.

"After work, more people are heading to supermarket discount areas or opting for fast food to meet their dinner needs, and this fixed time slot is almost always filled with young people, "says Liang.

She gradually discovered that, aside from designated discount days, Mondays are particularly good for bargain hunting because many people choose to shop for a week's worth of groceries over the weekend. This means that on Mondays, shoppers can pick up some items that didn't sell over the weekend, often at relatively large discounts.

This meticulous approach to shopping extends beyond just supermarket runs, as Wu has her strategies for maximizing savings across various online platforms.

"It's about being resourceful. For example, I use platforms like Meituan and Alipay to take advantage of coupons, and sometimes I'll get great deals, like a 0. 1-yuan pack of tissues with a 2-yuan coupon, "says Wu.

A survey conducted by Beijing News Shell Finance in October shed light on the nuanced spending habits of young consumers nationwide. While they're willing to splurge on experiences, their consumer decisions remain rational. The survey found that 54. 3 percent of respondents would reduce expenses if they found cheaper alternatives. Moreover, 51. 4 percent would forgo certain expenditures if they felt they lacked novelty or had already been experienced.

"Young adults'frugal habits, particularly their evening trips to supermarkets for discounts, offer a fascinating glimpse into how today's youths are redefining their relationship with spending, by saving money without compromising on essentials, "says Zhu Di, a research fellow at the Institute of Sociology, Chinese Academy of Social Sciences.

Zhu adds that they're not just changing their shopping habits, but they're reshaping the very notion of what it means to be a smart, modern consumer in China today.

"Falling in love with yellow discount labels is actually an upgrade in consumer attitude—after all, being able to afford expensive items doesn't mean one should overpay, "Wu echoes.

Wu adds that any money-saving method helps individuals accumulate savings, and as they observe their savings grow, they become less inclined to spend recklessly, creating a reinforcing cycle that encourages more thoughtful and deliberate spending habits.

Lu has found various ways to save, from collecting free samples during promotional events to reusing packaging, and she learned that frugality is about the little things, like turning a milk teacup into a pencil holder or repurposing shopping bags for storage.

"But it's also about finding balance. Initially, I was so focused on saving every penny that I became obsessed with the idea. Now, I'll grab a good deal if I see one, but I won't go out of my way. It's about being smart with money without letting it take over your life, "says Lu.

While Lu's parents'generation might have equated frugality with deprivation, these young professionals see it as a smart lifestyle choice. This new approach to spending reflects the diverse interests of China's youth. For Lu, the difference lies in how money is spent.

"Our consumption philosophy is'save where you can, spend where you should'. The older generation might say the same thing, but where we choose to spend might be different. I might spend on anime merchandise, game top-ups, or blind boxes, "says Lu.

For her, it's become a lens through which she views the broader challenges of life and the value of financial resources. This perspective has profoundly influenced her approach to consumption and spending.

"Discount hunting has taught me the true value of money. It's not just about saving—it's changed how I view all my spending. The more I save, the better I understand how to spend money wisely. It's become a lifestyle that makes me think twice about every purchase, "says Lu.