Apple is the biggest tech company in the world and have the greatest brand in the West. The latest report told us that Apple sold more phones like never before. A big brand in the West, but how is the brand doing it in China?
The Hurun Research Institute released the Hurun Best of the Best Awards 2015 (http://www.hurun.net/en/ArticleShow.aspx?nid=9604) last week, based on the results of the Hurun Report Chinese Luxury Consumer Survey 2015. This report shows us that Apple beats Lous Vuitton, Hermes, Gucci, Chanel, Dior and Samsung in a survey of China`s wealthiest shoppers.
Apple is now ranked as China`s most coveted luxury brand!
This is a survey from the individuals whose net worth is above 10 million RMB or $1,6 million. Apple is on top for both men and woman, and is the preferred brand for gifting by China`s richest. Hermes was the winner last year, and Burberry and Prada dropped out of the Top 10 list this time.
Best Brand for Gifting by Men
Brand % of respondents
1 Apple 20,30%
2 LV 13,40%
3 Gucci 6,80%
Hurun Report Chairman and Chief Researcher Rupert Hoogewerf said, “The government’s crackdown on luxury gifting continues to have its effect, with luxury gifting down a further 5% year on year, taking it to 30% over two years. Travel retail continues to change the dynamics of luxury in China, with 7 out of 10 luxury goods bought by Chinese now being bought overseas.”
Best brand for gifting by woman
Brand % of respondents
1 Apple 18,90%
2 Chanel 13,20%
3 LV 10,20%
The preferred gift for Chinese millionaires for men is Watches, overtaking red wine as a category. Red wine had a bad year, and dropped down to third. Second on the list is consumer electronics, as travel vouchers continues to show a strong rise for the third year running.
A little bit different at the woman list, as Jewelry is at the top of the list and (of course) Fashion took the seconds place, followed by consumer electronics. Watches is the most wanted product as a gift in China, and this is good news for Apple as they are planning to launch their new watch soon.
Spring Festival, widely known as Chinese New Year in the West, is the most important traditional festival, and most important celebration for families in China. Most Chinese have 8 days off work, and the Chinese New Year starts on Thursday 19 february and end on 5 March.
2015 is the year of the goat.
«The upcoming Chinese New Year would be the peak of gift giving in China,» Hurun research said, and Apple has become the most eye-catching gift brand this year.»
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