As a fast growing consumer market, majority of the affluent Chinese millennials consider luxury product as a symbol for elevating their status or ensuring their self confidence. Yet, there is an increasing focus on the exclusivity and quality of product. They would buy luxury as a reward for self and also as gift for someone.
PRODUCT CATEGORIES COVERED
Affluent Insights™ 2017-18 Luxury Study covers premium brands across the following categories:
- 105 Fashion & Accessories brands
- 81 Watch brands
- 66 Jewelry brands
- 82 Travel & Leisure brands
- 54 Skincare brands
- 84 Alcohol brands
Brand selection: For past purchase/ownership and future purchase plan questions, we have selected brands that are well-known luxury brands and/or are part of the competitive set of our subscribers’ brands. For brand image questions, we include subscriber brands, as well as, a sub-set of high-end luxury brands that have shown to be the most popular in our research.
Are Chinese Millennials purchasing luxury for the quality they provide or to elevate their status?