[Jeon Youngsoo's Population Prism] The Next Generation Hooked on 'Hyeontasoobi'... A Depression Market Approaches

Emergence of 'Moomin Generation' Customers Dreaming of Stimulation-Free, Context-Free, Idleness-Free Rest
Focus on 'Depression-Relief Consumption Market' to Escape Desperate Reality and Overcome Uncertainty
Japan’s Share Houses and Others Alleviate Loneliness... Solving Mental Hunger Rather Than Material Needs
Overcoming Offline Discomfort, Anxiety, and Dissatisfaction Through SNS Online Solidarity

The numbers have decreased, but the characteristics have become unique. The consumption tendencies of the subsequent generation, deviating from the standard deviation, likely lead to this conclusion. It is the market debut of a challenging target with fewer numbers but diverse tendencies. This new customer is difficult to understand from the conventional perspective. They are also called the representative keyword 'Moomin Generation.' The term combines '無 (none),' 'Mean (meaning),' and 'generation.' It refers to the emergence of customers in their 20s who dream of stimulation-free, context-free, and idleness-free rest. Moreover, they even advocate 'Siljonjuui'?the principle of respecting what they dislike. It is another bold move. In a gloomy world, they appear to take a casual approach to enjoyment.

The Moomin Generation are the subjects who caused rapid demographic changes intertwined with the times. Although currently a minority, they are poised to lead increasingly segmented expressions of desire. However, their numbers are not large. Due to accumulated low birthrates, their overall size is rapidly shrinking. Nevertheless, the future market inevitably depends on them. Time is on their side, even if not immediately. The social entry of this smaller yet more unique subsequent generation presents a challenging task and challenge for the existing market. Therefore, understanding their inner thoughts and aspirations is an essential task for sustainability.

In this context, the symbolic consumption of the changed subsequent population to note is the 'depression market.' The key point of desire resolution for the new generation of customers aligns with depression relief. Businesses that help escape or improve the depressing reality fall into this category. The depression market is segmented into 'Hyunta consumption' and 'Deukdo consumption.' Although precise conceptual separation is difficult, Hyunta consumption is a passive alternative consumption after accepting reality, whereas Deukdo consumption is closer to niche demand that outright rejects even ordinary consumption satisfaction. The visible form is Hyunta consumption. 'Hyunta' is an abbreviation of 'reality compromise,' a defense mechanism to accept a gloomy and bleak situation. The consumption desire to escape a desperate reality is named Hyunta consumption. It means accepting what cannot be confronted but pursuing satisfaction within one’s ability and level without overexertion. It is a choice to obtain maximum utility at an appropriate level when there is little or no hope. Unless the situation reverses, the expansion of the depression market is a foregone conclusion.

A new business environment aligned with resolving and overcoming depressive psychology such as future anxiety and cost pressure has matured. The foundation was laid since 2018, when the working-age population began to decline and the contraction economy fully started. When depression relief as a means to overcome uncertainty is confirmed and shared during consumption, it is broadly Hyunta consumption. The potential candidates are thus broad and diverse. Since loneliness and isolation are the causes of depression, initially, there will be many narrowly defined Hyunta consumption limited to desire resolution, but the background of depression is diverse, so the scope is wide and deep. It differs from simple thriftiness. A characteristic of Hyunta consumption is that people willingly spend money if it resolves discomfort, anxiety, and dissatisfaction (the 3 discomforts).

Therefore, it is necessary to consider providing new values of convenience, safety, and satisfaction by timely resolving the 3 discomforts. Effectively proposing a product ecosystem that eliminates the 3 discomforts can also connect to additional plus alpha (+α) needs. At this point, let’s look at the Japanese case. Japan, a super-aged society, viewed the start of Hyunta consumption as the 3Ks (Economy, Health, Loneliness) of the elderly. However, it did not see much success as it was not linked to purchasing power. Now, it sets the 3Ys (No Desire, No Dream, No Will - 欲ない, 夢ない, やる?ない) of the subsequent generation as a strong candidate for Hyunta consumption and is actively targeting them. This is a result of focusing on the emergence of a changed youth population with no will, dream, or desire to try anything. Since this trend inevitably leads to increasing impoverishment and individualization, new businesses are proposed to overcome these desires.

The key point is summarized as business models of reassurance, stability, and safety. Currently, there are many movements to service relationship recovery for loneliness relief. This is aimed at enriching buyers’ lifestyles by selling relationship services. With 70% of Japan’s GDP coming from services (tertiary industry) aimed at problem-solving, expectations are high. The consensus and values of recovering relationships to solve mental hunger rather than material abundance also play a role. A representative example is the growth of share houses. Living alone is lonely and depressing, and forming a family is difficult, so this reality is solved through communal living. It is a loose family orientation of living alone but together. Prices are also diversifying. It is a high cost-performance business model connecting the expensive and cramped living environment of single young people with appropriate payment. Share houses are overwhelmingly popular among women in their 20s and 30s.

Since thinking about the future causes depression, one pillar of Hyunta consumption must be the financial industry. Attention is on realistic financial products that reduce future anxiety and price resistance. Small-amount, short-term insurance is currently in sight. It guarantees specific risks with slimmed-down premiums and short insurance periods. It is mini insurance that fills detailed needs when necessary, rather than expensive and heavy general insurance. Face-to-face counseling for depression relief increases the success rate of customer acquisition, leading to a rise in places incorporating daily miscellaneous and worry counseling as an essential process when selling financial products.

Professor Jeon Young-su, Graduate School of International Studies, Hanyang University

Hyunta consumption becomes infinite when combined with online. Ironically, online, which presupposes non-face-to-face and virtual contact, enhances the cost-effectiveness of depression relief. The approach is sensory and interactive. The youth generation records, plans, and produces daily life, using virtual space as a creative exchange channel. As a new generation enjoying recognition and cooperative communication, they overcome offline discomfort, anxiety, and dissatisfaction through sharing, empathy, and collaboration. Their innovation perspective, intellectual ability, productive sensibility, consumption culture, sensory expression, and problem-solving become the top contributors to depression removal when combined with smartphones and the internet. Demand for solidarity through social networking services (SNS) is a consumption opportunity for escaping depression. Providing a mobile space equipped with an environment where they can empathize and participate is desirable.

'Geo HD' is a DVD rental company with stores mainly in suburban areas. Even movies face severe decline pressure amid the prevalence of low-cost subscriptions. Therefore, it provides a basis for escape from a depressive environment through irregular ultra-low-price (50 yen per disc) campaigns. It lowers the hurdle cheaper than online to induce Hyunta consumption. 'Kabcon' specialized in mobile social games turned depression into money. By applying smartphone new technology to help escape depressive situations, it succeeded in niche targeting. Startup creation for the youth population exposed to mental issues such as depression is also active. 'Shine' is an online media providing motivational quotes and meditation content to encourage impoverished youth, engaging in various businesses including free and paid services depending on the situation. Beyond online communication, the culture of light meetings where people meet and part after direct exchanges is expanding. Business-oriented issue-specific small groups are representative.

This content was produced with the assistance of AI translation services.