[Source]
Scratch cards, a kind of instant lottery, have become a surprising hit among young people in China.
Most important points:
The details:
-
In the past, scratch cards were seen as a game for older generations. Social media influencers flood pPlatforms like Douyin and Xiaohongshu with scratch-off content, generating billions of views and fueling the trend.
-
In the past three months, scratch cards worth about 38.9 billion yuan ($5.4 billion) have been sold in the country, marking an 81.4% increase year-on-year and surpassing other types of lotteries. At this rate, scratch card sales could exceed 200 billion yuan ($27.62 billion) by the end of the year.
-
Analysts attribute the renewed popularity in part to economic concerns among young people facing a challenging labor market and the risk of deflation. Although the chances of winning big are small, the instant gratification of scratch cards is attractive among young people.
-
The overwhelming demand for scratch cards has led to shortages in some areas, leaving retailers struggling to keep up with orders.
-
Observers also link the lottery craze to a growing “dropout culture” among Chinese youth, who are increasingly rejecting the traditional pressures of intensive study and work.
-
While some expect the scratch-off trend to continue, others expect the government will eventually step in to eventually regulate or curb it.
Tangent:
Trending on NextShark: Young people in China buy scratch cards
Download the NextShark app:
Want to stay up to date with Asian American News? Download the NextShark app today!
