Summary of Key Points
The article discusses the issue of "who is consuming and why it's difficult to consume," emphasizing that consumption requires three conditions: money, time, and energy. Young people lack money, middle-aged individuals lack time, while the elderly (just retired at age 60+) have made up for their energy deficit and have become the main consumer group. The key to boosting consumption does not lie with the elderly (who are already doing their best to spend), but in addressing the young people's lack of opportunities to earn money and the middle-aged's need to adjust their mindset and time management. Young people should seek opportunities overseas, middle-aged individuals need to wait for the industry transition to conclude, and the elderly can simply maintain their current level of consumption.
The "Trinity Dilemma" of Consumption: Each Group Lacks One Component
Consumption is like a stool with three legs; without one, it cannot stand steadily:
- Young people: They have time and energy, but they have no money. They have just graduated and cannot find jobs, relying on their parents for pocket money. However, their parents struggle to earn money (fearing being replaced by AI and wanting to save), and even job interviews require a fee (for example, the young person in the article had to pay 2000 yuan to secure an interview).
- Middle-aged people: They have money and energy, but their time is exhausted. Those born in the 1980s face the toughest challenges: overcrowded education systems, lack of job guarantees, rising housing costs, being replaced by AI at the age of 35, and further competition from AI. They either work in industries that are not thriving (finance/real estate/Internet) and dare not spend, or they work in booming industries (hard technology) and are too busy making money to spend.
- Elderly people: They previously lacked energy, but now they have made up for it. Advances in medicine have made people in their 60s healthier than middle-aged individuals in their 40s. Coupled with pensions and free time, they have naturally become the main consumer group, willing to spend on travel and experiences that provide emotional value.
Young People's Lack of Money: Not Because They Don't Want to Spend, but Because They Lack Opportunities to Earn It
The lack of money among young people is not due to poverty, but rather a lack of opportunities to earn it:
- Good industries in the country are already overcrowded, and new industries are quickly filled by thousands of people (such as large-scale models and nuclear fusion research). New entrants often have to displace existing workers.
- Solution: Encourage them to go overseas. Just as young people used to go to Beijing, Shanghai, and Guangzhou for jobs, there are now opportunities in Southeast Asia, Australia, South America, etc. (such as starting businesses or working). As long as they can bring back money, talent, and products, consumption will naturally increase.
Middle-Aged People's Lack of Time: Either They Don't Dare to Spend or They Are Too Busy Making Money
Middle-aged people are not unwilling to consume, but they lack the motivation:
- In declining industries (finance/real estate/Internet), they have some savings but are cautious about spending due to poor industry prospects (paying off mortgages, raising children, and worrying about unemployment).
- In booming industries (hard technology), they have just started to succeed (such as in biotechnology and environmental materials) and are busy with financing, production, and going public. They simply don't have time to spend.
- They need time to adjust their mindset from "working desperately to earn money" to "spending freely." This process is inevitable and cannot be rushed.
Elderly People's Consumption: No Need for Extra Stimulation; Just Let Them Be
The elderly are already the main consumer group and do not require additional incentives:
- They have money (pensions), free time (just retired), and energy (good health). They are willing to spend on experiences that provide emotional value (similar to young people playing games or middle-aged people getting spa treatments).
- The focus should be on meeting their real needs (travel, retirement planning), and avoiding misleading them into making unnecessary one-time purchases (such as forcing the elderly to go skiing).
Three Steps to Boost Consumption: Target the Issues and Take a Proven Approach
To truly revive consumption, we need to address the core issues:
1. Young people: Quickly provide opportunities overseas** by establishing the necessary infrastructure (culture, business processes) to enable them to earn money abroad. This can be implemented immediately.
2. Middle-aged people: Be patient and wait for the industry transition to complete. Let hard technology entrepreneurs accumulate enough resources before they start spending freely; this cannot be rushed.
3. Elderly people: Allow them to consume freely without unnecessary stimulation or misleading tactics.
By addressing these three areas, there is hope for a revival in consumption.