The economy may be slowing down, but our appetite for shopping – particularly for luxury goods – isn’t. That’s the surprising insight revealed by Asia’s largest annual study of consumer attitudes towards brands, conducted by Campaign Asia-Pacific in collaboration with Nielsen.
This year’s results showed that six out of the top 10 retail brands in the region (judged according to performance and desirability) are luxury labels, namely Chanel, Gucci, Calvin Klein, Giorgio Armani, Louis Vuitton and Rolex, in that order.
The number one spot in the retail list was claimed by Nike – obviously, the athleisure trend is still going strong!
Three of the 10 overall biggest risers across all categories were also designer brands: Tiffany & Co, Bvlgari and Ralph Lauren.
Said Campaign Asia-Pacific brand director Atifa Silk: “Despite the well-publicised slowdown in China and Hong Kong, consumer perception of luxury brands in those markets remains strong. Also, we’re seeing growing pools of luxury consumers and rising ‘premiumisation’ in South-east Asia, where consumers are increasingly buying accessories from the big-name brands.”
Meanwhile, when it comes to shopping online, our favourite e-commerce sites are Amazon, Lazada, eBay and Taobao – for now, at least.
The survey gathered feedback from 6,400 people across 13 Asian markets, including Singapore, China, Indonesia, Japan, Malaysia, South Korea, Thailand and the Philippines.
See the full list here!