A survey conducted among Chinese millionaires in 2022 revealed that around 48 percent of respondents said that they planned to purchase more luxury jewelries in the next three years. Respectively 44 and 39 percent of the survey millionaires would increase their consumption on high-end watches and wines.
Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type
among high net worth individuals with personal assets over ten million yuan
Supplementary notes
The survey was conducted among 750 respondents with personal assets of over ten million yuan.
50 percent of respondents were female. 50 percent of respondents were male. 40 percent of respondents were from tier-1 cities, 60 percent were from new tier-1 and tier-2 cities.
The respondents' average age was 36 years old, and the average personal assets of respondents were 45 million yuan.
The average number of real estate owned by respondents was three, and the average living space is 280 square meters.
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Hurun Research Institute. (March 1, 2023). Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/
Hurun Research Institute. "Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type." Chart. March 1, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/
Hurun Research Institute. (2023). Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/
Hurun Research Institute. "Share of Chinese Millionaires Planning on Increasing Their Consumption of Luxury Goods in next Three Years in China as of 2022, by Type." Statista, Statista Inc., 1 Mar 2023, https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/
Hurun Research Institute, Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type Statista, https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/ (last visited December 22, 2024)
Share of Chinese millionaires planning on increasing their consumption of luxury goods in next three years in China as of 2022, by type [Graph], Hurun Research Institute, March 1, 2023. [Online]. Available: https://www.statista.com/statistics/1200851/china-perceived-increase-of-luxury-goods-purchases-among-millionaires/
