Age of first purchase of luxury goods among rich consumers in Hong Kong 2023, by age

Published by
Xin Ou,
Mar 1, 2024
According to a survey on luxury goods purchases in January 2023, approximately 34 percent of Hong Kong consumers said that they bought their first luxury goods between the ages of 18 and 20. Meanwhile, the age of 21 to 25 remained the age when many respondents made their first luxury purchase.

Share of age of first purchasing luxury goods among high-income consumers in Hong Kong as of January 2023, by age group

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Release date

March 2023

Region

Hong Kong

Survey time period

December 2, 2022 to January 4, 2023

Number of respondents

500 respondents

Special properties

among consumers from Hong Kong

Method of interview

Online survey

Supplementary notes

Original question: At what age did you first purchase luxury goods?

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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