According to a survey conducted in December 2020 on the luxury market in China, the most preferred type of luxury goods in China was classics. More than half of the millennials and elder generations preferred to purchase classics, while generation Z showed a higher preference for designer editions and cross-brand collaborations.
Type of luxury goods preferred in China as of December 2020, by age group
Gen Z was defined as the generation born after 1995.
Millennials was defined as the generation born between 1980 and 1995.
The question was phrased by the source as follows: "Please choose the types of luxury you have purchased in the past two years"
This question also offered the options of other, which were chosen by few respondents; classics include classic editions and their modified version; cross-brand collaborations refers to cross-brand co-designs.
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Bain & Company. (December 16, 2020). Type of luxury goods preferred in China as of December 2020, by age group [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/
Bain & Company. "Type of luxury goods preferred in China as of December 2020, by age group." Chart. December 16, 2020. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/
Bain & Company. (2020). Type of luxury goods preferred in China as of December 2020, by age group. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/
Bain & Company. "Type of Luxury Goods Preferred in China as of December 2020, by Age Group." Statista, Statista Inc., 16 Dec 2020, https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/
Bain & Company, Type of luxury goods preferred in China as of December 2020, by age group Statista, https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/ (last visited November 21, 2024)
Type of luxury goods preferred in China as of December 2020, by age group [Graph], Bain & Company, December 16, 2020. [Online]. Available: https://www.statista.com/statistics/1194730/china-type-of-luxury-goods-preferred-by-age-group/
