According to a survey conducted by Rakuten Insight in July 2024, about 45 percent of respondents aged 16 to 24 in Hong Kong prioritized design when making decisions on luxury goods purchases. Meanwhile, around 42 percent of respondents aged 55 and above were more focused on practicality and cost-effectiveness.
Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group
This question was phrased by the source as follows: "What are the main factors influencing you to buy luxury goods? (Choose up to 3 of the most relevant answers)"
Among a total of 2,506 survey respondents, 1,533 were women and 973 were men.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Rakuten Insight. (September 3, 2024). Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group [Graph]. In Statista. Retrieved October 04, 2024, from https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/
Rakuten Insight. "Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group." Chart. September 3, 2024. Statista. Accessed October 04, 2024. https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/
Rakuten Insight. (2024). Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group. Statista. Statista Inc.. Accessed: October 04, 2024. https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/
Rakuten Insight. "Main Factors Affecting Decisions to Purchase Luxury Goods among Hong Kong Consumers as of July 2024, by Age Group." Statista, Statista Inc., 3 Sep 2024, https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/
Rakuten Insight, Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group Statista, https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/ (last visited October 04, 2024)
Main factors affecting decisions to purchase luxury goods among Hong Kong consumers as of July 2024, by age group [Graph], Rakuten Insight, September 3, 2024. [Online]. Available: https://www.statista.com/statistics/1493880/hong-long-key-factors-influencing-luxury-goods-purchases-by-age-group/
