Chinese expected to buy moderately priced luxury goods for gifting, in 2013
With the occasion of the release of the 2013 edition of the Hurun Report, Founder and Chief Researcher Rupert Hoogewerf said “This year, there is a clear trend towards gifting more modestly-priced top luxury goods.”, highlighting an inhibition in luxury consumption. This year’s report identifies that the Top 10 most preferred luxury brands for gifting in China is dominated by French brands: Chateau Lafite (the only drinks brand in the ranking), Burberry (the only British brand in the ranking), Gucci and Montblanc are new entrants in the Top 10 ranking, while, Longines is the only luxury watch brand comes in at no. 15 (Rolex slipped off the ranking).
Top 10 brand choices for wealthy Chinese men when gifting are: 1. Louis Vuitton, 2. Apple, 3. Hermes, 4. Chanel, 5, Cartier, 6, Gucci, 7. Montblanc, 8. Dior, 9. Burberry, 10. Chateau Lafite Rothschild, 11.Armani, 12 Prada, 13.Moutai, 14. Tiffany, 15. Longines.
For Chinese women, the Top 10 brand choices for gifting are: 1. Chanel, 2. Louis Vuitton, 3. Cartier, 4. Tiffany, 5. Apple, 6. Montblanc, 7. Gucci, 8. Prada, 9. Dior and 10. Burberry