Electronics, watches, and wine have become the most popular men's gifts for high-net-worth individuals in China, while cosmetics, jewelry, and accessories are the most popular gifts for women, according to the Hurun Chinese Luxury Consumer Survey 2020 released on January 13.
(The table is translated by Google Translate from Chinese into English on Hurun website.)
Louis Vuitton replaced Apple as the number one gift brand favored by high net worth individuals. Huawei entered the top ten, becoming the second Chinese brand to enter the top ten after Maotai.
(The table is translated by Google Translate from Chinese into English on Hurun website.)
The report also shows that high-net-worth individuals are more enthusiastic about watch collection, and ultra-high-net-worth people are most fond of collecting watches. Favorite tea is green tea and black tea, white tea rose to third.
In addition, the favorite pets of high net worth people are dogs, ultra-high net worth people are more interested in fish farming, and young people love cats.
WeChat and Toutiao have become the main channels for high-net-worth individuals to obtain financial information, and only 30% are considering buying electric vehicles.
The report said that the number of middle-class families in the Chinese mainland reached 33.2 million, of which more than 10 million were new middle-class families. There are 1.58 million "high-net-worth families" with 10 million assets, of which 105,000 are "ultra-high-net-worth families" with 100 million yuan of assets.
