Although the majority of Chinese consumers have only been exposed to luxury goods for 40 years, China has grown to be the world’s second-largest luxury market. In order to gain an insight into the relationship between luxury consumption behaviors and their ages, values, lifestyles and social backgrounds of consumers of different ages in four generations, Mazars launched the survey at the end of 2019, exploring Chinese consumers’ definition of luxury goods, ways to obtain brand information, categories of products frequently purchased, frequency and channels of purchase, factors influencing purchasing decisions etc..
The team collected a total of 3,235 valid questionnaires covering Gen Z (under 24), Millennials (25-38), Gen X (39-54) and Baby Boomers (55-73). For businesses looking to have an in-depth knowledge of the psychology needs and habits of Chinese luxury consumers, Mazars provides a profound and thorough research report featuring the "profile of all generations of consumers".
After years of business experience and in-depth study in China's luxury industry, the survey shows that the difference of consumption habits and consumption views among four generations of luxury consumers is significant.
Download the survey below.