Evolution of Asia’s Luxury Obsession

Apr 28, 2010

Category: China Tags: , Ipsos

The role of luxury goods in Asian societies is a fascinating topic. Among those from whom I have learned most about the subject are Asian luxury specialist Radha Chadha and co-author of the book The Cult of the Luxury Brand.

Ipsos, the research firm, recently presented their take on the progression towards luxury by various markets.

The description of Japan highlights the unique way that Japanese relate to luxury, relative to the rest of Asia (and perhaps the world).

Ipsos describes Japanese as “Locked into Luxe habits”. Others speak about Japan as an example of “Mass Luxury”. Both concepts are apparent contradictions in terms – luxury is supposed to be something special, not everyday – but how else can you explain the obsession by Japanese consumers for luxury goods?

According to Ipsos, Korea, Hong Kong and Singapore are headed the direction of Japan.

Discussion

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View Comments for “Evolution of Asia’s Luxury Obsession”

scott

Ipsos model is interesting but then it assumes all consumers will follow the same path and each country is just at a different stage of development. Not sure that is true.
Jing Daily

Thanks for sharing. I think it is crucial to note the move into becoming sophisticated and discerning consumers. Interested in waiting and seeing the progression.
Linlin

Blogged it, thanks for sharing
Helen Tsui

A very interesting discussion from an academic perspective. From my Easter trip to Lucerne in Switzerland, I talked to Rolex dealers and they all agreed that the way that Mainland tourist buying expensive watches may make others feel intimidated. They brought pictures of different Rolex models and told the dealers how many for each model they want to purchase without even asking the prices. Less then 15 mins, the Mainland tourist group bought almost every available displayed item in cash! What can you say??