USD 3,950
2015 Asian Jewellery Consumer Report CH, IN, HK, SG, MY, KR, TW, JP
December 11, 2015
USD 3,950
December 11, 2015
In 2015 the HNWI population of Asia Pacific surpassed that of North America, becoming the region with the largest number of HNWIs in the world1. These reports examine four markets; USA, which still dominates all other markets in terms of the number of millionaires for a single country; China, which has the fastest growth in the number of HNWIs and ranks 4th in the total number behind US, Japan and Germany; Singapore and Hong Kong, which have extremely high concentrations of HNWIs among the total population.
We focus on this population with 1 million+ USD in investable assets; their purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services. We interviewed a total 415 HNWI respondents:3
| Countries | HNWI Sample Size |
| China | n = 104 |
| Hong Kong | n = 100 |
| Singapore | n = 101 |
| USA | n = 100 |
| Markets | Affluent Definition (HHI) | Price (USD) |
| China | CNY 240,000+ | 2,850 |
| Hong Kong | HKD 960,000+ | 2,850 |
| Singapore | SGD 135,000+ | 2,850 |
| USA | USD 150,000+ | 2,850 |
Driven by income growth, the Asian Millennials’ expenditure on international travel is expected to increase by 1.6 times to US$340 billion by 2020. Southeast Asia’s dynamic economies, powered by a rising middle class, are strengthening in and outbound travel throughout the region.
This report is based on findings from the Affluent Insights™ Luxury Travel Surveys:
| Countries | Affluent Definition (HHI/a) |
| China | CNY 180,000+ |
| India | INR 12,00,000+ |
| Singapore | SGD 100,000+ |
| Hong Kong | HKD 720,000+ |
| Malaysia | MYR 100,000+ |
| South Korea | KRW 78 million+ |
| Taiwan | TWD 960,000+ |
| Japan | JPY 10 million+ |
This report focuses on the affluent consumers in China. They are those who have an annual household income of at least CNY 240,000. They are a growing segment of the population that is expected to reach around 112 million by 2020. This is indicative of the ever-growing potential for luxury goods in this market.
To better understand this segment, we looked into the purchasing behaviour, motivations, media channels, and brand preferences of these affluent consumers in the context of premium and luxury products and services. We also shed light on the most effective influencers and motivators behind purchases in order to better target the segment and attract new customers or increase share of wallet among current customers.
This report is based on the 2015 Affluent Insights™ Luxury Study:
PRODUCT CATEGORIES COVERED:
Affluent Insights™ 2015 Luxury Study covers premium brands across the following categories:
| Product Categories | No of brands |
| Fashion/Accessories | 83 brands |
| Watches | 82 brands |
| Jewelry | 39 brands |
| Skincare | 52 brands |
| Makeup | 49 brands |
| Financial Services | 50 brands |
| Cars | 46 brands |
| Alcohol | 65 brands |
Asia’s cruise tourism is growing at double-digit rates – both in terms of capacity deployed in the region and as a passenger source market. Asia has had the greatest gain in share of global capacity deployment, but it is still at only 6%, which is not very high considering that Asia is home to well over half of the world’s population.
This is the first report of its kind in Asia, focusing on cruise travel. Based on findings from the Affluent Insights™ Travel Study:
| Countries | Affluent Definition (HHI/a) |
| China | CNY 180,000+ |
| India | INR 12,00,000+ |
| Singapore | SGD 100,000+ |
| Hong Kong | HKD 720,000+ |
| Malaysia | MYR 100,000+ |
| South Korea | KRW 78 million+ |
| Taiwan | TWD 960,000+ |
| Japan | JPY 10 million+ |
This report focuses on the affluent consumers of Hong Kong. They are Hongkongers who have an annual household income of at least HKD 960,000. They represent the top 10% of resident households in Hong Kong, with 15% of the sample earning at least HKD 2,000,000 annually. This is indicative of a large capacity to spend and the potential for luxury goods in this market.
To better understand this segment, we looked into the purchasing behaviour, motivations, media channels, and brand preferences of these affluent consumers in the context of premium and luxury products and services. We also shed light on the most effective influencers and motivators behind purchases in order to better target the segment and attract new customers or increase share of wallet among current customers.
This report is based on the 2015 Affluent Insights™ Luxury Study:
PRODUCT CATEGORIES COVERED:
Affluent Insights™ 2015 Luxury Study covers premium brands across the following categories:
| Product Categories | No of brands |
| Fashion/Accessories | 83 brands |
| Watches | 82 brands |
| Jewelry | 39 brands |
| Skincare | 52 brands |
| Makeup | 49 brands |
| Financial Services | 50 brands |
| Cars | 46 brands |
| Alcohol | 65 brands |
This report focuses on the affluent consumers of Singapore. They are Singaporeans who have an annual household income of at least SGD$135,000. They represent the top 30% of resident households in Singapore, with 18% earning at least SGD$250,000 annually. This is indicative of the Singaporean’s large capacity to spend, and the potential for luxury goods in this market.
To better understand this segment, we looked into the purchasing behaviour, motivations, media channels, and brand preferences of these affluent consumers in the context of premium and luxury products and services. We also shed light on the most effective influencers and motivators behind purchases in order to better target the segment and attract new customers or increase spending from current customers.
This report is based on the 2015 Affluent Insights™ Luxury Study:
PRODUCT CATEGORIES COVERED:
Affluent Insights™ 2015 Luxury Study covers premium brands across the following categories:
| Product Categories | No of brands |
| Fashion/Accessories | 83 brands |
| Watches | 82 brands |
| Jewelry | 39 brands |
| Skincare | 52 brands |
| Makeup | 49 brands |
| Financial Services | 50 brands |
| Cars | 46 brands |
| Alcohol | 65 brands |
This report focuses on highly Affluent consumers, who are a different consumer segment from the “Mass Affluent” or those defined as just “Affluent“. They are Americans who have an annual household income of at least $150,000 USD. They represent the top 10% of the population in terms of income, but command 25% share of total income in the US. These highlight the spending capacity and importance of the segment for luxury brands.
To better understand this segment, we look into the purchasing behaviour, motivations, media channels, and brand preferences of these highly affluent consumers in the context of premium and luxury products and services. We also shed light on the most effective influencers and motivators behind purchases in order to better target the segment and attract new customers or increase spending from current customers.
This report is based on the 2015 Affluent Insights™ Luxury Study:
PRODUCT CATEGORIES COVERED:
Affluent Insights™ 2015 Luxury Study covers premium brands across the following categories:
| Product Categories | No of brands |
| Fashion/Accessories | 83 brands |
| Watches | 82 brands |
| Jewelry | 39 brands |
| Skincare | 52 brands |
| Makeup | 49 brands |
| Financial Services | 50 brands |
| Cars | 46 brands |
| Alcohol | 65 brands |
Generation AAA are, young, growing, and a very lucrative segment of the middle class that luxury brands should be attracting if they are to realize growth in the next decade. As this segment ages, not only will their influence be wider, but their spending power more significant.
We are focusing on the Generation AAA (Aspirational, Ambitious, and Affluent) consumer segment, and their purchasing behaviour, motivations, media channels and brand preferences of the highly affluent consumers when it comes to purchasing premium and luxury products and services. A total of 390 Generation AAA respondents across three Asian markets:
| Countries | Sample Size |
| China | n = 170 |
| Hong Kong | n = 127 |
| Singapore | n = 93 |
This report is based on findings from the Affluent Insights™ Surveys:
Our definition of the affluent consumer is as follows:
| Country | Affluent Definition |
| China | CNY 180,000+ |
| Hong Kong | HKD 720,000+ |
| Singapore | SGD 100,000+ |
| Indonesia | IDR 160,000,000+ |
| Taiwan | NT$ 960,000+ |
| South Korea |
KRW 78 million+ |
| India | INR 12,00,000+ |
| Malaysia | MYR 100,000+ |
Overall, female consumers are bigger spenders on luxury than their male counterparts, representing roughly 60% of the global market for luxury goods. This is why in this report we focus exclusively on the female luxury consumer, who dominates many categories, including leather goods, makeup, skin care, fragrances, and ready to wear clothing. While male consumer are increasing their spend across luxury categories, female consumers are becoming responsible for a bigger share of sales also in luxury watches, which used to be a category dominated by males.
We cover premium brands across the following categories:
| Product Categories | Brands |
| Fashion/Accessories | (83 brands) |
| Watches | (82 brands) |
| Jewelry | (39 brands) |
| Skincare | (52 brands) |
| Makeup | (49 brands) |
| Financial Services | (50 brands) |
| Cars | (46 brands) |
| Alcohol | (65 brands) |
This report is based on findings from the Affluent Insights™ Luxury Study, fielded in May/June 2015.
A total of 178 Affluent Female Consumers, were surveyed in Hong Kong for this report. All respondents had an annual household income of at least HKD 960,000.
We are focusing on the Affluent Females’ purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services.
This report is based on findings from the Affluent Insights™ Luxury Study, fielded in May/June 2015.
A total of 154 Affluent Female Consumers, were surveyed in Singapore for this report. All respondents had an annual household income of at least SGD 135,000.
We are focusing on the Affluent Females’ purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services.
| Country | Affluent Definition (HHI/a) |
| Fashion/Accessories | 83 brands |
| China | CNY 180,000+ |
| India | INR 12,00,000+ |
| Singapore | SGD 100,000+ |
| Hong Kong | HKD 720,000+ |
| Malaysia | MYR 100,000+ |
| South Korea | KRW 78 million+ |
| Taiwan | TWD 960,000+ |
| Japan | JPY 10 million+ |
| Country | Affluent Definition (HHI/a) |
| Fashion/Accessories | 83 brands |
| China | CNY 180,000+ |
| India | INR 12,00,000+ |
| Singapore | SGD 100,000+ |
| Hong Kong | HKD 720,000+ |
| Malaysia | MYR 100,000+ |
| South Korea | KRW 78 million+ |
| Taiwan | TWD 960,000+ |
| Japan | JPY 10 million+ |
| Country | Affluent Definition (HHI/a) |
| China | CNY 180,000+ |
| India | INR 12,00,000+ |
| Singapore | SGD 100,000+ |
| Hong Kong | HKD 720,000+ |
| Malaysia | MYR 100,000+ |
| South Korea | KRW 78 million+ |
| Taiwan | TWD 960,000+ |
| Japan | JPY 10 miliion+ |
We focus on this population with 1 million+ USD in investable assets; their purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services. We interviewed a total 104 HNWI respondents in China.
| Country | Affluent Definition (HHI) |
| CHINA | CNY 240,000+ |
We focus on this population with 1 million+ USD in investable assets; their purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services. We interviewed a total 100 HNWI respondents in Hong Kong.
| Country | Affluent Definition (HHI) |
| HONG KONG | HKD 960,000+ |
We focus on this population with 1 million+ USD in investable assets; their purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services. We interviewed a total 101 HNWI respondents in Singapore.
| Country | Affluent Definition (HHI) |
| SINGAPORE | SGD 135,000+ |
We focus on this population with 1 million+ USD in investable assets; their purchasing behaviour, motivations, media channels and brand preferences when it comes to purchasing premium and luxury products and services. We interviewed a total 110 HNWI respondents in Singapore.
| Country | Affluent Definition (HHI) |
| USE | USD 150,000+ |
