Money

Survey shows office workers seeking out luxury goods

By Wang Wen (China Daily)
Updated: 2010-03-18 07:50

A recent survey shows nearly 40 percent of white-collar workers regularly buy luxury goods. [Wu Changqing / for China Daily]

As a sign of growing affluence following the economic crisis, a survey by MSN China showed luxury products are regular purchases among a third of the white-collar workers it surveyed in Beijing.

The research conducted by IResearch Consulting Group among 17,644 respondents from Dec 29 to Feb 5, showed 60 percent of them are defined as white-collar workers, aged between 20 to 40 and with an average income of more than 3,000 yuan ($439.4) in cities like Beijing, Shanghai and Guangzhou.

The MSN China survey showed more than 30 percent of the surveyed white-collar workers in the capital buy premium-brand cosmetics and 20 percent own at least one Louis Vuitton bag.

Liu Shu, chief editor and executive producer of MSN China Portal, said 38 percent of Beijingers are regular customers of luxury products, higher than 37.3 percent in Shanghai and 33 percent in Guangzhou.

She revealed that almost 63 percent of Beijing white-collar workers buy luxury cosmetics, 48 percent purchase luxury bags, 45 percent wear luxury watches, and 40 percent have premium-brand clothing.

Fu Lei, a 26-year-old woman working in Beijing and earning more than 10,000 yuan per month, recently went on a shopping trip to Hong Kong to buy cosmetics.

"I go to Hong Kong to buy cosmetics almost every year, because they are cheaper there," said Fu.

The survey also showed that large numbers of people now regard luxurious products as a sign of lifestyle quality.

In Beijing, 44.6 percent of white-collars surveyed agreed with the concept, slightly more than 44 percent surveyed in Shanghai.

"I still remember my first LV bag. In 2008 I bought a red LV purse to bring me good luck," said a 28-year-old woman surnamed Wang.

Wang said she has several LV and Gucci bags but no longer buys them because they are too common.

According to the Hurun China Rich List, compiled by British Rupert Hoogewerf, Beijing is home to 143,000 people with wealth of more than 10 million yuan and 8,800 people with more than 100 million, the highest in the Chinese mainland.