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Asian Shoppers 'The World's Biggest Label Lovers'

Tuesday, 2 Jul 2013 | 11:26 AM ET
A Chinese woman leaning on a Louis Vuitton shop display window in Hong Kong.
Anthony Wallace | AFP | Getty Images
A Chinese woman leaning on a Louis Vuitton shop display window in Hong Kong.

Three in five (61 percent) Asia-Pacific customers are willing to spend their hard-earned cash on designer products, higher than any other area in the world, according to an online survey by Nielsen.

Among a survey of 29,000 people across 58 countries, Nielsen found that Chinese consumers were the most likely to pay for designer goods. Some 74 percent said they would pay more for branded products - the highest of any country - followed by India and Vietnam, with 59 and 56 percent.

When asked whether they were drawn to high profile brands, 55 percent of Asia-Pacific consumers said they liked to buy products by famous brands, compared to a global average of just 47 percent.

(Read More: Conspicuous Spending in Japan on the Rise)

"The economic boom in a number of Asian countries coupled with growing middle class populations has seen the emergence of a new breed of consumers with higher disposable incomes," David Webb, managing director of advertising solutions at Nielsen said.

"Cashed up and ready to spend, these consumers are seeking out designer and well-known brands to project their new-found social status. The rapid expansion of the internet and other media channels has given rise to more exposure, awareness and desire for brands and products than ever before."

Luxury Sales Losing Shine?
CNBC's Robert Frank reports that China's luxury sales growth forecast is expected to fall to 7 percent from 20 percent.

Nielsen's survey indicates that Asia Pacific customers are influenced in their brand-loving habits by advertising. Over 65 percent of the region's consumers say advertising affects their brand preference. Globally, an average of 55 percent of people say advertising effects what they purchase in store.

(Read More: Chinese Consumers Are Still Not Spending Enough)

Shoppers in Korea and the Philippines were most likely to be influenced by the power of advertising, with 79 and 78 percent respectively saying their brand favorites stemmed from adverts.

While the Nielsen survey follows the long-term trend of an expanding and aspirational middle class in Asia, it does not reflect how many of these consumers actually spend their money on luxury goods.

Last month, luxury experts Bain & Co. released a report predicting that luxury sales would be far lower in 2013 given decreasing growth in Asia, especially China.

(Read More: Luxury Sales Hit by Chinese Fears of 'Ostentation')

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