A new study released by The Hurun Research Institute titled Chinese Luxury Consumer Survey 2013 provides insight into the brand preferences of China’s wealthy consumers. French luxury goods remain highly sought-after and brands such as Louis Vuitton, Chanel, and Dior were among the Top 10 preferred designers for both men and women.
Leather accessories are the preferred gifts of choice, where Burberry, Gucci, and Montblanc are among the Top 10 for the first time.
With regards travel, France remains the top preferred destination for China’s rich.
Travel is the number one leisure activity, but China’s affluent travellers are not going abroad as much – 3.4 times a year compared to 4.2 a year ago.
Europe is becoming an extremely popular destination where 50 percent of the Top 10 destinations are European. Australia and the Maldives are becoming less favoured. Sanya is the most preferred holiday home destination.
The survey is intended to provide a holistic understanding of the spending habits and lifestyle changes of this burgeoning, influential and ever-changing consumer class. This year the survey included questions for the first time on the ‘happiness index’ of these wealthy consumers.
The Survey also ranks the brand preferences of the Chinese luxury consumers, which are presented at the annual Hurun Best of the Best Awards. 2013 is the ninth year of the Hurun Report Chinese Luxury Consumer Survey and Hurun Best of the Best Awards.
Image: Louis Vuitton AW13