Rethinking the Sinking Market and Aging Economy in 2023
I doubt how many people don't recognize that 600 million still have incomes under 1,000 yuan. The products cited in this article basically illustrate the issue: white-label or unbranded goods account for nearly 80% of consumption, and nearly 700 million people haven't used shampoo and body wash consistently over the long term. Everyone is also afraid to raise prices casually—even Mixue Ice Cream & Tea, a top player, only charges about 30% of the market-leading price.
Japan has really done a great job with its silver economy, with many businesses actively adapting. For example, some shopping malls reserve the top floor specifically for seniors to dance in square dance groups. Dancing and checking in earns points redeemable as mall credits, members get bigger discounts the older they are, and depositing money comes with free eggs... They're really clever about it.