Is credit payments eyeing the elderly, are pensions enough to be “hands-on”?

“Recently, the elders in the family have started to use credit payments on online purchases, and to be honest, they’re pretty worried. Wu Yuan, who works for a foreign trade company in Guangzhou, said his mother, who was in Sichuan, was always calling recently to ask how to open flowers and white bars. Six months ago she only taught her mother to use mobile phone online shopping, but now worried that in the opening of these credit payment functions, the mother can not control their hands, “after all, even I can not quit the addiction of online shopping, double eleven also used three thousand yuan of flowers.” The old man is less aware of this. “

It is common for young people to use the payment methods of credit consumption such as flowers and white bars provided by the platform for online shopping. So, when all kinds of credit consumption into the middle-aged and elderly groups, especially the sinking market they, will not let the children like Wu Yuan such “heart-jumping”?

Shopping full discount temptation is big, middle-aged and elderly groups to study credit payments

Today, credit consumption has become the preferred payment method for online shoppers, and market dividends are fading. Relevant data show that china nearly 170 million after 90, more than 45 million people opened flowers, an average of four 90 after, there is one person with flowers for credit payments. The loan balance of Huayu has reached 99.2 billion yuan in the first half of 2017.

According to data released by JD’s Century Trade, 91.94 percent of debtors in JD.com are under the age of 40, with more than half of debtors under 30 in terms of the number of transactions and the principal balance. As of the end of June 2019, the balance of accounts receivable in JD.com reached 41.132 billion yuan.

From these data, it can be seen that young consumer groups have been the mainstream, the middle-aged and elderly groups are still a gold mine to be developed.

“Before I used to do credit cards, with credit to pay online, my mother is very opposed. “

Wu Yuan told understand notes, mother has always believed that consumption should be measured, any credit payment methods to encourage consumption, should not be promoted. Therefore, recently, my mother often asked on the phone how to turn on the e-commerce platform credit payment function. She repeatedly asked why, only to learn that her mother is to buy money to enjoy the full discount of credit payment, “and said that the friends around her told her, everyone is using.” “

When Wu Yuan quoted her mother said at the time, “online shopping to measure the effort”, the mother was a little angry. Obsessively said that friends and workers of the same age around, are using this credit payment, they can not be left behind too much, “also told me to use a credit payment for the first time, buy cooking oil can be a hundred cheaper.” “

“And young people can not resist the favorite cosmetics, tide discount stake, the retired middle-aged and elderly can not resist grain and oil, eggs, daily necessities, small favors, can save as much as possible, so these installments on the magic.” Unable to convince her mother, Wu Yuan had to teach her to open an app.

This thought things came to an end, but let Wu Yuan unexpected is that the mother introduced a lot of weekday dance square dance “dance friends”, but also often asked them how to open credit payment, “estimated that many children do not support (parents) to open credit payment, afraid of being cheated and spend money.” “

In the housewife’s circle, any preferential information will be passed ten, ten hundred. In order to buy online discounts or credit payments a little discount, the elderly can pile up to study how to take the platform’s “wool.” This includes a passion for spreading the help chain, and even borrowing someone else’s account to sign up for credit payments to earn more offers.

“It’s crazy compared to the young people who shopping online, and I don’t have the patience to calculate the strength of the offer. Wu Yuan worried that his mother opened up credit payments after excess consumption, or by direct marketing agencies tricked to buy those exaggerated health care products through credit payment methods. “It’s really broken, I’m going to keep telling her what’s not worth buying with credit, just like she was when she started shopping with a credit card.” “

Credit payment, so that many young consumers over spend more than the cost, spend tomorrow’s money to enjoy the current life. However, now the tongue of credit consumption, has begun from cosmetics, tide products to daily necessities, grain and oil commodities tilt, the goal is to attract more middle-aged and elderly consumer groups.

What is the purpose behind these play?

Credit payments have peaked, with middle-aged and elderly groups becoming gold miners

On the eve of double eleven this year, Huahua announced the lifting of account restrictions, adding the ability to support the opening of multi-account flower. This means that on the basis of the completion of real-name authentication, an ID card information can be opened up to three flowers, this move is some media called “disguised stimulation” double eleven consumption.

In addition, according to JD Financial data, the double 11 on the day of the JD.com white bar transactions in only ten seconds to successfully break 100 million (yuan). The e-commerce giants’ beautiful transcripts can also be said to be supported by credit payment methods.

“Never used flowers, white bars and other credit payments after 80, 90, absolutely belong to the minority. Jiang Yilei, who studies consumer behavior at a data agency in Shenzhen, said that according to the study, nearly 80 percent of post-80s and post-90users who used credit payments during daily consumption,including online shopping and offline mobile payments. Of these, 42% were users who used credit payments more than five times a month.

A further number of young users stress that unless the merchant does not support credit payments, they will be preferred to use credit payments, after the monthly accounting period to make repayments.

“For some young users, credit payments are not an emergency, but a habit of payment. Jiang Yilei analysis, some users even if the card money is also used to use credit payments, “as long as timely repayment, and do not charge interest charges, but also let people have a sense of cheap advantage.” “

However, younger users who are determined not to use credit payments are also firm. More than 20% of young consumers say they are used to shopping and using credit cards, and no matter what preferential policies the e-commerce platform offers, they will not launch online credit consumption applications.

“Some are afraid of their own desire to control shopping, and some really do not like to spend ahead of time. “So no matter how e-commerce platforms stimulate users to pay with credit, it’s hard to “conquer” this segment of consumers,” said 23 percent of the 2018 survey (without credit payments) and about 21 percent in the middle of the year. “

Jiang Yilei guess, because of a variety of concessions, the means of reducing the role of limited, therefore, part of the payment platform to the middle-aged and elderly consumer groups penetration. “Rather than invest in and reward young consumers and pull them into credit payments, it’s better to give benefits to retired middle-aged and older people, and spread more.” Related industry insiders said.

Compared with young users, the middle-aged and elderly consumer groups pay more attention to “save money”, as long as there are practical concessions, this part of the consumer can be actively study, hard work and forward the link to take prizes, queue to snap up discounted eggs the same reason, most of the elderly have plenty of time. “

Perhaps the middle-aged and elderly consumer group has long been the main target of payment applications to pry the business increment. So what are the benefits to the payment agencies in nurturing the consumption habits of middle-aged and elderly consumers? Not afraid of them finishing their wool on Byebye?

Credit consumption is impulsive, elders can’t stop

“That’s no finance, no online shopping. “

Min Xi, an operations manager at a fresh e-commerce company in Guangzhou, said that the company is currently working with a number of payment agencies to launch a full credit payment, preferential activities, compared with the past fresh enterprises blindly use subsidies to reward registered users, credit payment full of the effect of the activities is to reduce the burden of business operations.

Middle-aged and elderly people are more concerned about the price of chairice oil salt, so fresh electricity commercial subsidies to attract users, some of the concessions from enterprises to make profits, part of the discount is subsidized by the payment platform. So. Fresh e-commerce platform can obtain users at competitive low prices, payment platform can stimulate users to open credit payment, “the same model, in supermarkets, convenience stores, daily necessities e-commerce is also very common.” “

“Although elders are usually opposed to the way their children overspend, they are also addicted to daily necessities and freshness. Minxi told understand the notes, currently on their platform to use credit payment, you can enjoy a full 100 yuan minus 30 yuan discount, which makes many middle-aged and elderly people have begun to study the way to open.

Although some users “wool” will be deleted after the app, but as long as the platform has been rolling out concessions, can ensure that the elderly continue to buy fresh products on the platform, “in the fresh and daily necessities, the elderly are no less hands-on than young consumers who love online shopping.” “

Take her platform to launch the green melon special activities for example: five kilograms of green melon price of 70 yuan, if the use of credit payment to participate in the full reduction activities, the cost of distribution is 62 yuan. When they first launched the event, they thought the offer was limited and they wouldn’t have too many users to buy it.

“Who knew the volume of orders was so large that more than 1,000 bags of green melons were sold in three days. “Seemingly far beyond the household “consumption” of cucumbers, even because of credit payments full of discounts were swept away, “back-office data can be seen pulling new numbers are not low, registered users have a lot of middle-aged and elderly.” “

In the credit payment, full reduction of preferential training, this consumer group has also developed a large number of hands-on habits, regardless of the lack of home, as long as the low enough discount will be ordered to buy home hoard. Minxi said, it is not that dads do not like to spend ahead of time, but buy the reasons and goals are different from young people.

“Just as young people use credit, older users become accustomed to consumer behavior that they don’t understand or are used to whenever they have a discount. “The relevant e-commerce industry pointed out that the use of credit payment the greatest value, is easy to let consumers impulse consumption, this habit of the formation of basically regardless of age and consumption capacity.

Whether it is e-commerce institutions or payment application platforms, there is hidden behind the ambition of service financialization, “even courier companies have provided short-term loans, what other consumer behavior can not be done with credit lending?” “

With many young people in front of the desired goods can not hold the same, older users will often because of the various offers of online shopping and heart, can stimulate their impulse to consume, online credit payment application is a big incentive. In order to give some concessions, many middle-aged and old people have forgotten the advice of the past to admonish the younger generation to do their best and to spend pragmatically. Don’t know the future in the credit consumption application penetration and sinking trend, dad’s pension is not enough to spend?

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