According to a survey conducted in December 2020 on the luxury market in China, the leading reason for purchasing luxury items among all age groups surveyed was to reward themselves. Compared to other age groups, generation Z put more emphasis on the pursuit of fashion when purchasing luxury goods.
Main reasons for purchasing luxury goods in China as of December 2020, by age group
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Bain & Company. (December 16, 2020). Main reasons for purchasing luxury goods in China as of December 2020, by age group [Graph]. In Statista. Retrieved March 19, 2024, from https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/
Bain & Company. "Main reasons for purchasing luxury goods in China as of December 2020, by age group." Chart. December 16, 2020. Statista. Accessed March 19, 2024. https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/
Bain & Company. (2020). Main reasons for purchasing luxury goods in China as of December 2020, by age group. Statista. Statista Inc.. Accessed: March 19, 2024. https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/
Bain & Company. "Main Reasons for Purchasing Luxury Goods in China as of December 2020, by Age Group." Statista, Statista Inc., 16 Dec 2020, https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/
Bain & Company, Main reasons for purchasing luxury goods in China as of December 2020, by age group Statista, https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/ (last visited March 19, 2024)
Main reasons for purchasing luxury goods in China as of December 2020, by age group [Graph], Bain & Company, December 16, 2020. [Online]. Available: https://www.statista.com/statistics/1194716/china-reasons-for-purchasing-luxury-goods-by-age-group/