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Hurun Report releases Chinese Luxury Consumer Survey 2015 and Hurun Best of the Best Awards 2015

Source: Shanghai Daily | February 1, 2016, Monday | Online Edition

THE Hurun Research Institute has released the Hurun Best of the Best Awards 2015, based on the results of the Hurun Report Chinese Luxury Consumer Survey 2015. This is the eleventh consecutive year Hurun Research has revealed the brand preferences, consumption habits and lifestyle trends of China’s wealthiest individuals. Widely regarded as an ISO9000 for China’s luxury sector, the CLCS has become a benchmark for the luxury sector.

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 percent year on year, taking it to 30 percent 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.”

Consumer electronics, led by Apple, was the gift of choice, overtaking LV and last year’s Number One Hermes, which dropped down to seventh. Moutai shoots back into Top 10 after two year ‘holiday’. Red wine had a poor year, dropping down to third place in the preferred gift. Watches rose to second place, although especially for watches worth less than 20,000 yuan. Overall spending crept back up to the levels of two years ago.

The Hurun China Business Confidence Index, an index measuring the confidence in the economy going forward two years, rose for the second consecutive year: 3 out of 10 are highly confident in the economy going forward.

Chinese luxury consumers continue to be extremely busy, away on business trips for 8 days a month on average, whilst super rich are away for 11 days a month. 6.4 percent away for more than 20 days a month. Despite this, they take 8 and 12 days of holiday respectively, one more than last year. Chinese New Year is preferred time to travel, followed by October Golden Week and the summer holidays. The Peninsula Hotel replaced the Shangri-La as China’s preferred hotel brand. The Mandarin Oriental improved the fastest, rising to second place.

Chinese traditional furniture and classic cars broke into the Top 10 collectables for the first time, whilst traditional Chinese ink painting and watches continued to lead the way in first and second place.

Australia keeps hold of top slot among Luxury travel destinations, followed by France. Maldives shoots into third place. UK is back into the Top 10.

For Hurun Happiness Index, overall very happy is slightly down on last year to 7.8 points out of 10. Work satisfaction is lower than private life satisfaction. Super rich score higher on Happiness Index.

For Health Index, 24 percent of the respondents regularly use a health advisor, 19 percent a personal trainer, 17 percent a nutritionist and 8 percent a fengshui expert.

Jogging is the fastest-growing sport, rising to third place behind golf and swimming.
 

About twenty percent of super-rich plan to use private jets in the next three years.

UK continues as the destination of choice to educate children at high school level, slightly ahead of the US.

Private equity is the fastest growing investment. For super rich Chinese (with wealth of  100 million yuan) equities overtake real estate as the preferred personal investment, whilst for Chinese millionaires (defined as having 10 million yuan), it is real estate.

Nation


 

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