A survey just released in China has lifted the lid on the nation's obsession with luxury brands and identified just where consumers are spending -- and want to spend -- their money.(Relaxnews) -
A survey just released in China has lifted the lid on the nation's obsession with luxury brands and identified just where consumers are spending - and want to spend - their money.
The 2009 "21st Century Deluxe Report" (http://www.21deluxereport.com - in Chinese only) was organized by the 21st Century Business Herald business newspaper and was supported by the Ipsos global market research company and Shanghai's Fudan University.
Over three months, it claims to have polled more than 150,000 people across China, with the questionnaires focusing on purchasing patterns and what makes the consumers decide which brands they are going to buy.
It also asked specifically which brands turned consumers' heads and found that only one Chinese brand was among the most-wanted - the China Minsheng Banking Cory was apparently the most desired saving and lending institution.
China's other favorite brands are:
Jewelry and watches: Cartier
Airlines for business trips: Air France
Beverages (spirits): Martell
Brands to buy for Christmas: Omega, Swarovski, Dewar's.