Asian consumers embrace safe luxury, ethical and sustainable values: Bluebell study
Bluebell Group’s latest “Asia Lifestyle Consumer Profile” report has revealed some of the most important consumer trends in the Asian market in 2023.
According to the report, which spans 1,765 premium lifestyle consumers across six markets, a resurgence of ‘traditional’ attitudes toward luxury, including the status that it represents, the importance placed on a brand’s reputation, and expectations on service are returning.
“During the pandemic, premium and luxury brands focused resources toward nurturing consumer relationships in new and innovative ways, through one-on-one interactions and other tailored retail solutions,” said Bluebell group president and CEO Ashley Micklewright. “Going forward, we see consumers continue to expect this heightened level of service excellence, which is particular to Asia.”
Likewise, following growth in 2022, interest in "natural choice" brands continue to rise including in Southeast Asia, up 6%, Mainland China up 4%, and Korea up 3%. In all markets except for Japan, over 85% of respondents agree that they now prefer to buy those more "natural" choice brands, be it in their ingredients or fabric.
More widespread year-on-year growth was also recorded in consumers who attach importance to brands’ ethics and values. Chinese respondents (97%) are the most likely to check the ethics behind a brand before they purchase it, but Japan and SEA also show a growing interest.
“While we see a strong ‘revenge living’ mentality, consumers appear to consider ethical and sustainable values as important components in the pleasure of purchasing premium and luxury products. Today it is an expectation,” said Anne Geronimi, group communication and sustainability director.
Lastly, asian consumers are showing strong travel and spending intent and are drawn to local destinations. Chinese consumers are the most likely to spend on luxury fashion (44%), beauty & Skincare (44%) and jewellery and watches (41%) during domestic travel.
On the other hand, spending intent during international travel is topped by luxury fashion, ranking first among consumers from Japan (67%), Korea (54%) and Taiwan (61%).
“Travel and spending intent is good news for domestic destinations like Hainan in China, which invested heavily in the island’s infrastructure to cater to both consumer experiences and shopping offering during the pandemic,” added Samy Redjeb, greater china managing director.
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