Despite demographic similarities regarding age, geography and wealth, Asian affluents have varying interests and cannot be treated as a monolith.
According to Agility Research & Strategy, affluents in Asia can be segmented in several categories that encompass different consumption and shopping habits. Understanding the range of consumers is crucial for luxury brands and marketers looking to reach the right audiences.
“This busts the myth that rich Asians are impulsive spenders when it comes luxury,” said Ali Mirza, CEO of Agility’s Affluential, Hong Kong. “There’s a sizable proportion of pragmatic consumers who tend to be more rational in their purchases.”
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