Well-Dressed Chinese Millennials Make a Really Good Case for Living with Your Folks

Sneaker Street, athletic shoe store. (Photo by: Jeffrey Greenberg/UIG via Getty Images)UIG via Getty Images

Twenty-somethings have always been an attractive demographic to marketers and retailers because they’re in that sweet spot between being financially dependent and having financial dependents. In other words, they’re throwing a party with their debit card, and everyone’s invited. Today’s twenty-somethings—a.k.a. the millennial generation—comprise the biggest generation in U.S. history, which is theoretically great for retailers, but loads of student debt and lower-paying jobs have prevented the group from really going buck wild with things. American millennials are putting off commitments like home and car ownership due to lack of funds and recent statistics have shown that more than 30% of them are even choosing to live with their parents in order to save money.

While this might all seem like one big downward spiral for U.S. millennials—and the businesses that sell them stuff—that last statistic could actually help things. A new study conducted by CBRE of the consumer habits of 5,000 Asia-Pacific millennials, points out that by not having to pay a mortgage or rent, the 63% of millennials surveyed who live at home are better able to save for the future as well as spend more money on clothes and entertainment.

This is especially true of the 1,000 millennials surveyed that are based in mainland China, Jing Daily points out, where property rates are sky-high, forcing them to live at home, but cost of living is relatively low, allowing them to party hard. Chinese twenty-somethings in the survey save 20% of their income (while North American millennials save just 11%) and spend over 30% on leisure activities like shopping, eating out, and going to the movies. As a result of this freedom, Chinese millennials “go out” 10 days per month while North American millennials only go out 7.4 days per month.

In conclusion, living at home with your parents: maybe not such a bad idea after all.

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