The carefree China millennials who prefer to spend than save: profiles of the moonlight clan
They work for luxury brands, in PR or new media, and blow most of their salary on fashion, cosmetics, socialising and eating out – making them dream customers for the likes of Gucci. Youthful luxury lovers share their lifestyles
Clinton, a 24-year-old Beijing-based professional, spends like there is no tomorrow, typical of China’s so-called moonlight clan whose focus is enjoying life to the full.
And their carefree spending of most of their income – in stark contrast to the saving habits of previous generations – is a major contributor to luxe sales in China. Market research firm Kantar Millward Brown attributes this phenomenon to the 66 per cent growth in Gucci’s brand value this year.
Clinton, who does not want his real name used, says he burns about 70 per cent of his income on socialising and dining out. The rest he will splurge on spa massages, high-end home accessories, and impulsive purchases of sneakers and clothing. Spending 5,000 yuan (US$772) – almost half his monthly salary – on a single item is not a problem.
“Thanks to financial support from my family, I was comfortable with a certain standard of living when I was studying,” says Clinton.“However, when I first started working, I realised how difficult it was to sustain that lifestyle on my salary ... Although I have adjusted my spending down a notch compared to when I was a student, I have hardly any money left by the end of the month.”
The term “moonlight clan” – a combination in Chinese of moon/month and light/used up – was first used by Western media around 2011, shortly after a study of 15- to 35-year-olds in Guangzhou revealed that more than 30 per cent exhibited “moonlight clan behaviour”.
Trying to live a life that you can’t afford is so hard