The original text of the report is "2024 China Consumer Trend Survey", you can search it yourself.

I will not repeat other conclusions, I personally suggest focusing on this picture:

But for us in the crypto world, strong spending power means that leeks grow stronger. I hope this will be helpful for your project practice:

People with strong consumption intention (rough leeks)

• Urban Generation Z:

  This group of people is mostly single students and ordinary employees. They are relatively optimistic about the macro-economy and family financial situation, and generally believe that income will grow in the future, so there is no need to be too frugal. Therefore, although their daily consumption currently accounts for a relatively lower proportion of their income than other generations, they show a higher willingness to consume. From the perspective of consumption structure, the proportion, amount and growth rate of urban Generation Z in catering, pet supplies, and cultural and entertainment consumption are higher than other generations, reflecting their pursuit of social interaction, emotional companionship and spiritual enjoyment. At the same time, Generation Z pursues a healthy concept, loves sportswear, and generally has low consumption of tobacco and alcohol.

  
  

• First-tier wealthy seniors:

  There are many senior executives or business owners among this group of companies, and the average household disposable income is high, especially the proportion of operating income that is much higher than the average. Although its proportion of daily consumption is currently low and there is no expected significant growth, it has a relatively positive outlook on consumption. From the perspective of consumer categories, this group of people spend a lot of money on food and beverages, and have a relatively high proportion of non-sports clothing and daily travel. At the same time, due to their stable income, first-line wealthy seniors hope to continue to improve their quality of life and spend more on tobacco and alcohol. The expected growth rate of consumption in , household appliances and furniture, consumer electronics and travel is significantly higher than the overall rate.

  
  

• Affluent middle-aged and elderly people in third-tier cities:

  Similar to the wealthy seniors in first-tier cities, this group has a high proportion of corporate executives or business owners, and their average household disposable income is significantly higher than that of the entire population. Their consumption expenditure accounts for a lower proportion than that of the entire population, and the expected future growth rate is basically the same. The wealthy middle-aged and elderly in third-tier cities spend a higher proportion of their daily living expenses on catering, household goods, household appliances and furniture, and bear more expenses related to their children, while the proportion and amount of self-pleasure consumption such as travel are relatively low.

People with weak consumption willingness:

• New middle class in first- and second-tier cities:

  There are relatively more highly educated non-locals in this group, and the proportion of optimistic people is relatively low. They are generally worried about asset depreciation caused by falling housing prices, high social unemployment rates, and unemployment or unstable income caused by changing situations. Their daily consumption expenditure accounts for a high proportion, and they are more inclined to improve their lives by increasing consumption than the older middle class in first- and second-tier cities. In terms of the structure of consumer categories, the material needs of the new middle class in first- and second-tier cities, such as food and beverages, are relatively saturated and account for a lower proportion, while they have higher demands for decompressive spiritual and experiential consumption (such as travel and cultural entertainment); at the same time, they have high expectations for their children's education, and the growth rate of consumption in the education category is significantly higher than that of the older middle class.

  
  

• Rural middle-aged and elderly people:

  This group has a high unemployment rate, low income and reliance on transfer income, and is generally pessimistic. They spend a very high proportion of their spending on daily necessities, such as food and beverages, medicines and medical services, and personal and household care products; and are unable to improve their quality of life. Their spending on most consumer categories is low, and there are many categories with negative expected growth rates, such as culture and entertainment, consumer electronics, etc.

in conclusion:

Let the elderly in rural areas and the workers in big cities go, they really have no money.

The middle-aged and elderly groups and young people in small towns should be focused on development!