According to the survey on luxury goods purchases as of January 2023, around 57 percent of respondents from China said they purchased luxury items to improve their quality of living. In contrast, approximately 42 percent of respondents stated that purchasing luxury products helps them to feel more confident.
Reasons for purchasing luxury goods in China as of January 2023
Original question: For what reason would this affect your purchasing decision of luxury goods?
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). Reasons for purchasing luxury goods in China as of January 2023 [Graph]. In Statista. Retrieved January 07, 2025, from https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/
Ruder Finn. "Reasons for purchasing luxury goods in China as of January 2023." Chart. March 22, 2023. Statista. Accessed January 07, 2025. https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/
Ruder Finn. (2023). Reasons for purchasing luxury goods in China as of January 2023. Statista. Statista Inc.. Accessed: January 07, 2025. https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/
Ruder Finn. "Reasons for Purchasing Luxury Goods in China as of January 2023." Statista, Statista Inc., 22 Mar 2023, https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/
Ruder Finn, Reasons for purchasing luxury goods in China as of January 2023 Statista, https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/ (last visited January 07, 2025)
Reasons for purchasing luxury goods in China as of January 2023 [Graph], Ruder Finn, March 22, 2023. [Online]. Available: https://www.statista.com/statistics/1393908/china-purposes-of-buying-luxury-goods/
