“ KTV ,” short for Karaoke Television ), which is a wildly popular leisure activity across generations , including millennials .
In a nation such as China , where consumption of alcohol is less prevalent than it is in the West , karaoke provides a livelier alternative to other types of non-alcohol-related activities such as going to the movies . Guests pay hourly rates for private rooms with padded walls and sort through catalogues that often contain thousands of songs to choose from . Venues range from small and cheap to vast and ostentatious . Many have interactive gaming tables and expansive food offerings .
Opportunities exist for Western businesses that may currently , or in the near future , seek to attract Chinese millennials by integrating karaoke itself and also — perhaps more importantly — by extracting the compelling and applicable fragments of a karaoke experience into other business units .
Just as a Westerner traveling in China , perhaps reluctant to embarrass himself in public and / or feel overwhelmed by the vast cultural differences , the Chinese millennial may change his tune ( pun intended ) and start belting out verses when a Bon Jovi song is played . So too does the opportunity exist for Western businesses to spark a sense of nostalgia-for-home by incorporating singers such as Andy Lau into the mix , be it within a karaoke environment or beyond .
Tea Houses have traditionally been another very popular social activity in China , and are often associated with relaxation , entertainment , interaction and a forum for sharing thoughts with friends and colleagues .
In recent years , Chinese millennials have shown a particular affinity for coffee consumption . Cafés such as Starbucks and Coffee Bean & Tea Leaf (“ Xiangbinfei ” in China ) have become popular places for young people , influenced by Western culture , to hang out . The architecture in these cafés often combines historic and modern styles in ways that appeal to a demographic with one foot in each era .
For businesses attempting to court Chinese millennials , there may be opportunities to convert physical environments that are static at certain times , such as a bar or lounge in the early afternoon , into transformable modules that can be converted for different types of consumers throughout the day .
Wildly popular among Chinese millennials , hot pot chain Hai Di Lao competes in a very difficult space . The company
describes its physical environment as an ideal place for social gatherings — for customers with some extra time to spare .
A “ hot pot ” style of eating basically involves dipping a seemingly endless variety of meats and vegetables in simmering broth . The cooking concept is simple and easy for competitors to replicate . Hai Di Lao has become one of China ’ s most successful “ hot pot ” brands largely by focusing on experiential components of the dining ( and pre-dining ) environment . The restaurant chain has a strong reputation for customer and employee loyalty , which are both atypical for Chinese hospitality businesses .
The experiential element of Hai Di Lao undoubtedly plays an important role in the chain ’ s success . Customer satisfaction is actually increased while patrons are waiting ( sometimes hours ) for their tables because the restaurant has so many entertainment and leisure options available . This type of creative queuing system opens many possibilities for other types of leisure and hospitality businesses to tap into the unique phases of a particular experience , beginning with the wait for the experience to begin .
American millennial views on the correlation between money and happiness overwhelmingly lean toward spending money on experiences over things . Chinese millennials seem to want both .
CHINESE MILLENNIAL MINDSET ver the course of the next several years , Chinese millennials will be the demographic force behind revenue growth for businesses in leisure verticals .
The demands of this consumer set are complex and steeped in juxtaposition with their parents , thousands of years of history and the outside world they are so eager to explore . For global corporations doing business in China , there is added opportunity ( and risk ) in attempting to woo Chinese millennials .
Attracting Chinese millennials to a physical product , or a physical space , requires an acknowledgement that what has worked in the past will likely not work with them .
It would be a significant miscalculation , for example , to assume they will respond to what ( and how ) their parents consume . Chinese millennials definitely want material things . But they also want to express themselves in ways they are comfortable with , which appeal to their desire to really know who they are hanging out with in their quest for deep and meaningful relationships with other people .
Investment in a consumer insights study geared toward the specific goals of a development project that seeks to attract Chinese millennials would be a worthwhile investment for any business looking to tap into this enormous potential revenue stream .
For leisure and interconnected businesses , this means developing beyond a small , singular localized element within a designated environment . The larger experience — driven by a desire for something different , unique and genuine — should also be contemplated in ways that reflect end even encourage the blurring of cultural lines to that place where discovery of something “ new ” is likely always the experience for someone in the room .
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