Analyses & Studies  •  Sectors & markets  •  Foresight  •  Publications

GroupM: Study on consumer and luxury brands in Hong Kong

As part of its study of consumers and luxury brands in Hong Kong, GroupM launched an in-depth survey about consumptions habits and attitudes towards luxury brands in March of this year (2018).

Targeting 603 people between 18-54 years old in Hong Kong, the study split these consumers into three categories: Gen Z (18-24), Gen Y (25-39) and Gen X (40-54) with a particular focus on social media usage and influence.

The key findings:

  • Every two out of three consumers in Hong Kong have purchased luxury goods in the past 12 months, slightly higher tendency is observed with Gen Y.
  • Luxury consumers well split between females and males, with one-third possessing MHI $60,000 and above.
  • Over half of Gen Y and Gen X sustain interest to purchase luxury goods in the coming 12 months.
  • Similar to mature consumers, over half of Gen Z also show great potential for luxury consumption by acknowledging the importance of owning a luxury piece.
  • Social media are competitive with traditional media in capturing eyeballs for luxury brands.
  • Majority of consumers show interest in following luxury brands via social media, whereas Gen Z tend to be more selective in following luxury brands in which they are interested.
  • Luxury brands’ information shared by KOLs or celebrities is the most significant driver to trigger interest to follow luxury brand via social media, especially among Gen Z.
  • Image-driven and short video are most preferred. Long video is as less welcome as post with mainly text.

Read the report in full here.

Useful links

Luxury and Retail MediaCom is named Media Network of the Year at Cannes Lions 2018 Hilton selects MediaCom as media agency of record Adidas appoints MediaCom to drive its ‘Create the New’ strategy