The Wealth Anxiety of Chinese Generation Z Women Brought by the Wealth-showing Videos on Chinese E-commerce Platform RED

Abstract

As an e-commerce platform in mainland China, RED was established in June 2013 in shanghai. RED has a total of 6 rounds of financing, with a valuation of more than 20 billion US dollars (about 126.7 billion yuan). More than 200 million monthly active users in 2022, most of its users are women. Money anxiety is a problem for young women today. Through the research on the influence of RED's wealth-showing videos on the money anxiety of young women, people will pay more attention to the money anxiety problems that young women are facing, and problems and improvements needed in the operation of RED as an e-commerce platform. This study investigated young Chinese girls' perceptions of RED's wealth-showing videos and their level of money anxiety by creating and sending questionnaires. A total of 300 questionnaires were issued and 70 valid questionnaires were returned. REDs wealth-showing videos aggravated the money anxiety of most young women, and caused impulsive consumption and excessive consumption of young women, causing physical and psychological harm to young women, as well as adverse effects on society. In response to these problems, platforms should rectify the authenticity of videos, avoid the spread of malicious videos showing off their wealth, and at the same time call on bloggers to share content that is conducive to establishing a correct view of money among young women.