We will be looking at purchasing behaviour, motivations, media channels and brand preferences of high-net-worth (HNWI) consumers when it comes to purchasing premium and luxury products and services.
The APAC region contributes over 6 million high net worth individuals, recording double digit growth in 2018. A powerhouse market like China continues to drive global wealth, with well over 1 million HNWIs to date. In our latest conversations with the affluent Asian consumers covering 6 key markets, we looked into their perceptions of wealth and luxury. Asian millionaires define luxury as something synonymous to quality, both tangible (high-quality goods) and intangible (capacity to lead a quality lifestyle). We look at the top brands for each category market covered.
Product Categories Covered
The 2019 Luxury Study covers premium brands across the following categories:
- 112 Fashion & Accessories brands
- 81 Watch brands
- 72 Jewelry brands
- 72 Hotel brands
- 17 Cruise brands
- 60 Skincare brands
- 48 Makeup brands
- 61 Alcohol brands
- Hong Kong
- We interviewed a total of 903 millionaires (HNW individuals with US$ 1 million+ in investable assets) across 6 markets.
- Fielded in November/December 2018
- All respondents were defined as affluent, with annual household incomes as per below.
- All millionaires also met the minimum annual household income thresholds in each market as indicated below.
- China: AHI CNY 400,000+, HNWI Sample n=319
- India: AHI INR 3,000,000+, HNWI Sample n=103
- South Korea: AHI KRW 100,000,000+, HNWI Sample n=126
- Japan: AHI JPY 13,500,000+, HNWI Sample n=150
- Singapore: AHI SGD 150,000+, HNWI Sample n=100
- Hong Kong: AHI HKD 1,000,000+, HNWI Sample n=105
LUXURY PERCEPTIONS AND PURCHASE BEHAVIOUR
- Section Summary
- Experiences from Luxury Brands
- Next Luxury Purchase
- Expectations from Luxury Brands
- Luxury Purchase Preferences
- Millionaires’ Luxury Preferences
- Motivations to Buy Luxury Brands
- Luxury and Social Media
- Top Social Media Celebrities/Influencers
- Luxury Category Purchasing
- Luxury Spending Outlook
- Share of Wallet
- Luxury Purchase Channels
- Motivations to Buy Luxury Online
- Buying Luxury Online
- Luxury Shopping Websites
- Preferred Online Payment Mode