Hong Kong Starts New Year in Luxurious Style: Global survey shows 68% have luxury logo lust in Hong Kong

HONG KONG — Global market intelligence firm Synovate recently released data from a global study on luxury brands, showing that Hong Kong is one of the top markets globally where luxury is a lifestyle with almost one in four consumers,
compared to 17% across the globe.

Synovate’s luxury research expert and CEO for the UK, Jill Telford, said people have an odd relationship with luxury. “Some of us feel we deserve it and revel in unabashed luxury. Some indulge in it but feel they maybe should not have. Some cannot afford it, but want it. And for many, it’s simply not even a consideration… the basics in life are tough enough to obtain.
“Of course a recession makes luxury retail even more challenging. Selling things that arguably people do not need during a time when many are at least morally forced to examine their spending patterns makes for interesting times. “The luxury marketers that are doing well are doing so by knowing their markets and positioning their products just so.”

This Synovate survey takes a look at luxe dreams, extravagance, indulgence and the finer things in life. What do people feel when they buy luxury? How do they treat themselves? And what is their luxury brand shopping style? The company spoke with over 8,100 people across 11 very different markets.

To read the full release, click here