According to the survey on luxury goods purchases as of January 2021, around 57 percent of respondents from China said they purchased luxury goods from other countries, as they have better quality compared to those available on the domestic market. Whereas approximately 51 percent of respondents also stated that products from abroad are not sold in their country.
Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021
Original question: Why do you purchase luxury goods outside Mainland China?
The survey was conducted among respondents who were:
45 percent male and 55 percent female;
7 percent below 25 years old, 51 percent between 26 and 35 years old, 17 percent between 36 and 45 years old, and 25 percent aged 46 years or above.
10 percent from Beijing, 10 percent from Shanghai, 10 percent from Shenzhen, 10 percent from Guangzhou, 30 percent from 2nd tier cities, and 30 percent from third and lower tier cities.
The average annual household income among the respondents was 1,435,000 yuan. One yuan equals 0.15 U.S. dollars and 0.13 euros (as of September 2021).
The average age of the respondents was 36.0 years old.
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Ruder Finn. (June 8, 2021). Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021 [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/
Ruder Finn. "Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021." Chart. June 8, 2021. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/
Ruder Finn. (2021). Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021. Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/
Ruder Finn. "Reasons for Purchasing Luxury Goods Overseas among Rich Consumers in China as of January 2021." Statista, Statista Inc., 8 Jun 2021, https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/
Ruder Finn, Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021 Statista, https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/ (last visited November 17, 2024)
Reasons for purchasing luxury goods overseas among rich consumers in China as of January 2021 [Graph], Ruder Finn, June 8, 2021. [Online]. Available: https://www.statista.com/statistics/1262001/china-reasons-for-buying-luxury-goods-abroad/
