Survey on luxury confirms the Hong Kong hype
with Andrew Sun. Additional reporting by Clara Mak and Vivian Chen.
A new global survey shows Hong Kong's lust for lux still tops the rest of the world. Global market research group Synovate just released an international study on luxury goods, conducted in October across 11 markets and involving more than 8,000 urban respondents.
It shouldn't surprise anyone that Hong Kong consumers ranked very high in their taste for brand names. It seems 68 per cent of us own at least one piece of a logo item (behind only India's 79 per cent who like to flash their LV and Chanel). Similarly, luxury is considered a lifestyle for one in four here, compared with 17 per cent in the rest of the world.
Synovate's local qualitative director, Salina Cheng, said: 'While many in Hong Kong are sophisticated luxury shoppers, they still want to make known to people around that they can afford certain luxury brands.'
And one in 10 people here want new, not second-hand, compared to the global average of about half. Most of us also look to celebrities for choosing our desired labels. 'Hong Kong consumers look up to their glamorous icons as a benchmark for the latest fashion and trends,' Cheng said, but added: 'Shopping for luxury goods is an experience in itself.'