According to a survey on luxury goods purchases in January 2023, around 52 percent of mainland China consumers said that they would spend more on luxury goods in the next 12 months. In comparison, around 10 percent of respondents said they planned on cutting their spending on luxury goods.
Planned changes of spending on luxury goods in the next 12 months in China as of January 2023
Original question: Would you spend more, the same or less on luxury goods in the next 12 months?
The average annual household income among the respondents was 1.4 million yuan. One yuan equals 0.14 U.S. dollars and 0.13 euros (as of June 2023).
The average age of the respondents was 37.2 years.
The survey was conducted among 55 percent female and 45 percent male respondents
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Ruder Finn. (March 22, 2023). Planned changes of spending on luxury goods in the next 12 months in China as of January 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. "Planned changes of spending on luxury goods in the next 12 months in China as of January 2023." Chart. March 22, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. (2023). Planned changes of spending on luxury goods in the next 12 months in China as of January 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. "Planned Changes of Spending on Luxury Goods in The next 12 Months in China as of January 2023." Statista, Statista Inc., 22 Mar 2023, https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/
Ruder Finn, Planned changes of spending on luxury goods in the next 12 months in China as of January 2023 Statista, https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/ (last visited November 21, 2024)
Planned changes of spending on luxury goods in the next 12 months in China as of January 2023 [Graph], Ruder Finn, March 22, 2023. [Online]. Available: https://www.statista.com/statistics/1393687/china-expected-changes-of-spending-on-luxury-goods/
