According to a survey among affluent consumers in Asia in the third quarter of 2023, just over one percent of the respondents were willing to pay over 25 percent more for sustainable luxury products. On the other hand, around 19 percent of the respondents were not prepared to pay anymore.
Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023
Characteristic
I would pay over 25% more
I would pay 10-25% more
I would pay 5-10% more
I would pay up to 5% more
I would not be prepared to pay any more
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affluent and high net worth individuals from China, Hong Kong, Japan, and Singapore
Supplementary notes
This question was phrased by the source as follows: "Would you be prepared to pay more for a product which positions itself as sustainable luxury? If so, how much more would you pay?"
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Altiant. (October 29, 2023). Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/
Altiant. "Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023." Chart. October 29, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/
Altiant. (2023). Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/
Altiant. "Willingness of Affluent Consumers to Pay More for Sustainable Luxury in Asia from 1st Quarter to 3rd Quarter 2023." Statista, Statista Inc., 29 Oct 2023, https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/
Altiant, Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023 Statista, https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/ (last visited July 22, 2024)
Willingness of affluent consumers to pay more for sustainable luxury in Asia from 1st quarter to 3rd quarter 2023 [Graph], Altiant, October 29, 2023. [Online]. Available: https://www.statista.com/statistics/1311323/asia-willingness-of-consumers-to-pay-more-for-sustainable-luxury/
