The annual Chinese ‘hand-chopping’ festival,the biggest promotion in TAOBAO. which was originally designed for singles, is now a national spending spree. Just yesterday, Taobao’s sales were $38.1 billion in one day.It is two months’ worth of Amazon’s annual sales in 2018. And food sales is 30% in this day. Today we’re going to talk about the economics of the single and how the food industry can capture the hearts of single people.
According to the 2018 China Statistics Yearbook, China’s single population which age over 25 years old reached 240 million in 2017. Sweden, Norway, Finland and Denmark are the four countries with the highest proportion of people living alone. Almost 40% to 45% . In Japan, 30% of households live alone.As a result, the single person has come to the attention of the food industry. For example, the Chinese brand “SINGLE DOG” has sold more than USD 2.9 billion in just two years. Magnum, for example, was born in Germany in 1989. From the start, Unilever positioned Magnum as a successful mid to high end ice cream brand for high income consumers aged 18 to 35.
With the arrival of a new generation of singletons, how much profit of single person? How to tap into the pain point of global single consumption? What exactly does food industry do?
- Knowledge of the single populationdetailedly
- The ranks of single people willgrow and the economy of single people will be of scale and sustainability. On the base of 2018 General Social Survey , in the USA, 51 percents of Americans said they did not have a stable partner from 18 to 34 years old.
- Single person with high incomeand strong consumption, they shopping to themself to give priority to self-pleasure. Due to there is no family pressure and burden for them and their motivation is basically self-demand-oriented.
- With the development of the economy, single consumption is no longer boring single. Single person has three characteristics
- Theymeet the psychological of difference and novelty
Speedo institute show that there are 36.83% of singles will try something new. Young people, in particular, tend to try things that are not relevant to previous generations. In turn, tend to be somewhat resistant to traditional brands. In view of this characteristic, the brand needs to establish the young, the fresh image.
- They are heavy users of social media
Young singles are less tied to family and other issues, have more free time and more active on social media. They are more willing to share their lives, express themselves, and pay a premium for goods that are social in nature. Therefore, food brands need to superimpose social attributes on products to make products become a prop and a topic in their social life, and let consumers spontaneously form interaction and communication behavior.
- They areobsessed with good-looking
Young singles are exposed to too much information online and in real life. Then they don’t have the time or energy to stop and explore the claims of products when the packaging doesn’t appeal to consumers. The high protein, low fat selling points of the product are hard to get across. At the same time, the demand for social sharing also makes it difficult for them to accept unremarkable or even aesthetically unappealing looks.
To sum up, good-looking appearance + interesting ‘soul’ is more likely to capture the favor of young singles.
So, how exactly should food brands communicate with singles? How to capture the recognition of single people through products? What are some interesting new opportunities in the singles economy?
- 3. How the food industry is getting singles
- Keeping innovative and differential.
Look for sales pitches based on life portraits of single person. We’re going to focus on the whole living scenes instead of lonely of single person. Food industry can find a new scenes in all of the things, then turn them into products. For example, the three most important activities for singles are watching a show, playing a game, working overtime or reviewing in the evening. Food industry can package such scenes as snake,beverage,and so on. Such as the marketing themes mainly in small-capacity liquor for single boys watching ball games at night. The marketing themes mainly in snack with small pack sizes for girls’ party. For example, Mizkan, Japanese brand. Their hot-selling product is hot pot seasoning for one person.
Meiji, launch a new frozen food for single men in this autumn and winter. This is a garlic-covered rice, can be into the pot or microwave heating , just 390g and it is enough to meet the single man a meal.
South Korea’s E-MART launched a product last year called ‘one banana one day’ . This product consists of six bananas, and the General Sale of bananas, Six bananas from left to right according to the ripeness of the order, every day can eat just ripe bananas. Single person do not need worry about buying a handful of bananas and not having time to eat them any more .
Besides differential, it is more important for innovative. The biggest pressure brought to us by economic development is environmental pollution. To improve the environment and reduce pollution is the theme of the new Century. It is imperative to optimize all packaging. For example, SUPACK Industry Co.,LTD. research and manufacture biodegradable packaging bags for 10 years, the main material we used is PLA which made of corn starch. Main products we manufactured are Biodegradable plastic bags and paper bags. It is the most potential biodegradable packaging company in China.
- Pretty skin attracts the people’s eyes, ‘interestingsoul’ attracts the people’s following.
Research shows that consumer purchase decision-making 80% by the good-looking outer packing, 11% by the auditory, 9% by smell, touch, taste . Can you attract customers with your product in 0.3 seconds?On the other hands, a good packaging make people want to share it on social media and will be a happy shopping experience. In other words, the social nature of packaging and appearance, is the core elements of a successful product’s packaging. But also the key elements of products’ innovation.A good packaging design needs a senior factory to manufacture it,that is the strengths of SUAPCK which has a professional factory of packaging,senior professional engineers.
- Establish a young, fresh brand
As young singles seek novelty, new brands are more likely to be accepted. While traditional brands need to soften the trace of old brand and create new and young theme. In Marketing, brands can be transformed into social properties of the pan-entertainment, social media of KOL will become an important source of business traffic
In a new generation, whether more players will join the track of single food or not? What other food categories will available for the singles ? We’ll see.