And when they play, they spend less money or want games that are very different from the conventional offer
Macau Business | October 2022 | Special Report | Chinese millennials
The most popular destination in the United States for Chinese millennials?
What are they doing there?
“Everything but the game.”
The quote is the title of an article published by Daily Jingone of China’s best-known luxury periodicals.
The Daily Jing the journalists wanted to know what young Chinese do in Las Vegas, if not play in casinos, and the conclusion: “leisure travel experience”.
One of the young people interviewed explained that “gambling is just an experience for me, not my goal in coming here”, adding: “I don’t want to waste my money on this because there are so many interesting things to do in Las Vegas.
Daily JingThe executive summary supports a groundbreaking 2016 report by design and architecture consultancy YWS Design and Architecture, titled The $264 Billion Baby Dragon: Your Next Biggest Client.
“Attracting Chinese millennials to a physical product or physical space requires recognizing that what has worked in the past is unlikely to work with them,” the consultancy said.
Roberto Coppola, Director of Market Research and Consumer Intelligence at YWS, added: “Investment in consumer intelligence research focused on the specific objectives of a development project that seeks to attract the Chinese Y would be a worthwhile investment for any company looking to exploit this potential. Huge potential revenue stream.
Unsurprisingly, Alex Bumazhny, former director and financial analyst at Fitch Ratings Inc., commented that millennials who frequent casinos spend more time and money on food, drink and entertainment than gambling. chance.
Fitch’s comment was backed by a survey conducted on behalf of the American Gaming Association: a millennial is more interested in skill-based games “like fantasy sports and poker and is more familiar with online games “.
However, scientific studies show different signs: “Young people are likely to participate in gambling and have gambling problems. College and university students are a particularly vulnerable group,” according to an article titled Gambling behavior among college and university students in Macau (2017).
“Many students have free time, money, increased freedom, accessibility and interest in playing different games of chance. About 42-80% of college and university students said they had gambled in the previous six to 12 months. Another study reported that 97% of male students at the University of Nevada, Las Vegas and 91% of females have gambled in their lifetime.
The numbers in Macao are significantly lower.
Results from the Macau Gambling Behavior Study indicate that of the 32.3% of survey participants who bet, bets were placed on mahjong (61.8%), games football (40.2%), Mark Six lottery (37.2%), card games (28.1%), land-based casino games (13.1%), slot machines (7.5 percent) and online casino games (2.0 percent).
The average monthly stake was MOP$411.
Seeking entertainment (18.7%), time spent killing (12.5%) and peer influence (11.1%) were the top three reasons cited for gambling.
The researchers found that 3.6 and 5.3 percent of college students could be identified as moderate-risk and problem gamblers, respectively, and that males were significantly more vulnerable to problem gambling.
A study with the same objectives was recently carried out in Hong Kong, and Professor Irene Wong (Caritas Institute of Higher Education, Hong Kong) was involved in each of the SAR studies.
Gambling behavior among college and university students in Hong Kong (2022) report that lifetime and past year prevalence rates of gambling are 79.6% and 41.8%, respectively, with a male predominance. Many (60%) started gambling before the age of 18. The estimated lifetime vulnerability to pathological gambling is 14.7%. “Pathological gambling is associated with male sex, Internet gambling, monthly gambling expenditure, gambling attitude, betting on a wide variety of games, and life dissatisfaction.”
One of the most successful products among young Chinese consumers is the “blind box” (盲盒 – to eat), small collectible boxed toys available on various platforms (physical and online) where the buyer is not aware of what is inside until after purchase.
For this reason – and because it is a real consumer craze, especially for the products of the Popmart company – there are those who find that the habit of consuming them is “at the intersection of two equally appealing domains: collecting and playing”.
Several details make the purchase of these toys addictive, starting with the fact that, for example, there may be a part in a series of 12 very rare (with the chance of finding only 1 in 144), often referred to as the “Mystery Style”.
One final note: Popmart made a profit of $73 million in 2020.
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