According to a survey on luxury goods purchases in January 2023, around 44 percent of Hong Kong 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 Hong Kong as of January 2023
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Share of respondents
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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 1.19 million Hong Kong dollars. One Hong Kong dollar equals 0.13 U.S. dollars and 0.12 euros (as of June 2023).
The average age of the respondents was 36.8 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 Hong Kong as of January 2023 [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. "Planned changes of spending on luxury goods in the next 12 months in Hong Kong as of January 2023." Chart. March 22, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. (2023). Planned changes of spending on luxury goods in the next 12 months in Hong Kong as of January 2023. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/
Ruder Finn. "Planned Changes of Spending on Luxury Goods in The next 12 Months in Hong Kong as of January 2023." Statista, Statista Inc., 22 Mar 2023, https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/
Ruder Finn, Planned changes of spending on luxury goods in the next 12 months in Hong Kong as of January 2023 Statista, https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/ (last visited August 25, 2024)
Planned changes of spending on luxury goods in the next 12 months in Hong Kong as of January 2023 [Graph], Ruder Finn, March 22, 2023. [Online]. Available: https://www.statista.com/statistics/1393702/hong-kong-expected-changes-of-spending-on-luxury-goods/