The new millennial generation is not only active cross-border e-commerce consumers, but also becoming exporters exploring opportunities in the global market.
A latest survey covering 23,000 Chinese consumers aged between 18 and 34 jointly released by online payment service provider PayPal and market consultancy Ipsos on Tuesday showed that nearly one third of the young consumers shopped on foreign e-platforms in the past 12 months. About 65 percent of them said genuineness of the product was the biggest concern. The millennials place more emphasis on quality than other age groups.
The new millennial consumers shop more for garments, accessories, cosmetics as well as food and beverages in search for personal touch and unique tastes. Apart from goods, they also show more preferences for experience consumption, such as travel, sports, hobbies and digital entertainment.
As online payment and social networking become more prevalent, the new millennial generation also aspires to be entrepreneurs. With PayPal realizing that China is now the second most popular cross-border shopping destination, the new millennial generation is taking this opportunity to explore international opportunities. They have come out with tailor-made business mode and products to attract more consumers from all over the globe.
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