As a group of "old and new people" who have benefited from the reform and opening up and China's rapid economic development, their values and consumption concepts are constantly changing with the drastic social changes. The Research Report on the Consumption and Demand Willingness of the Elderly from the Demand Side Perspective issued by the China Association for the Aged clearly points out that with the continuous expansion of the elderly population in China and the improvement of the quality of life of the elderly, the consumption of the elderly has undergone structural changes. At present, the consumption expenditure of the elderly is still dominated by food and clothing consumption, but the traditional consumption hotspots have shown a slow downward trend, and the enjoyment consumption has maintained a high growth.
Most of the "old and new people" have a certain educational background and accumulated rich assets in their later years. At the same time, the rapid development of the Internet has also accelerated the transmission of information and knowledge, and new values and outlook on life have spread rapidly. This makes them no longer stick to the mentality of being around their children and grandchildren all day, but more actively plan their later life, actively integrate into the internet tide, have more opportunities to develop their hobbies, and focus more on improving their own quality and quality of life.