Apple is the best luxury brand in China

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!

Think different

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.»

 


Click the link below and check out our Fan Fund

https://www.eventbrite.com/e/fan-fund-tickets-15580655159


 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Advertisements

Leave a comment

Filed under Stocks

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s