Chinese gifting bounces back 15%
Authority on Chinese Luxury Consumer releases
12thChinese Luxury Consumer Survey and Hurun Best of the Best Awards
(14 January 2016, Shanghai) The Hurun Research Institute today released the Hurun Best of the Best Awards 2016, based on the results of the Hurun Report Chinese Luxury Consumer Survey 2016. This is the twelfth consecutive year Hurun Research has revealed the brand preferences, consumption habits and lifestyle trends of China’s wealthiest individuals. Widely regarded as an ISO9000 for China’s luxury sector, the CLCS has become a benchmark for the luxury sector.
In recent half year, the Hurun Research Institute, a wholly-owned subsidiary of Hurun Report Inc, surveyed 458 Mainland Chinese ‘millionaires’, defined as individuals with a personal wealth of RMB 10 million (equivalent to USD 1.52 million). Amongst them were 57 super-rich(12%), defined as individuals with wealth of RMB 100 million (USD 15.2 million). Their average wealth was US$6.65million; the age was 37 years (38 among the super-rich band), which is one year younger than last year; the ratio of men to women surveyed was close to 1:1. Respondents were from 40 cities, 60.9% coming from the first tier cities of Beijing(13.3%), Shanghai(37.6%), Guangzhou(7.6%) and Shenzhen(2.4%). The Hurun Research Institute has carried out this survey now for 12 years running, surveying 5652 millionaires making this the largest and most authoritative survey of its kind in China.
This press release is an executive summary of the Chinese press release. For the full press release, please refer to the Chinese-language version on the
Gifting
Overall, gift giving has increased than last year. Gift giving by men and by women increased 15% and 24% respectively. And gift giving for Elderly and children increased 11% and 15% respectively.
Top three of the preferred brand for gifting by Men’s richest remains the same as last year. Apple crowns first, followed by LV and Gucci. Both of Cartier and Tiffany rose 4 positions. Hermes continued to drop from sixth to ninth.
Top three of the preferred brand for gifting by women’s richest are still Chanel, LV and Apple. However, the rank changes. Chanel climbed up to the crown. LV came to second, while Apple lost itsfirst position and down to the third.
The Star Performance: Bulgari returned to the top 10, ranks ninth. Dior dropped down 3 places to seventh.
Best Brand for Gifting by MenBest Brand for Gifting by Women
Brand / % of respondents / Brand / % of respondents1 - / Apple / 17.5% / 1↑ / Chanel / 10.3%
2 - / LV / 6.4% / 2↑ / LV / 8.9%
3 - / Gucci / 3.2% / 3↓ / Apple / 8.5%
4↑ / Catier / 3.0% / 4↑ / Cartier / 3.3%
5 * / Dior / 2.8% / 5↑ / Tiffany / 2.8%
6 - / Moutai / 2.4% / 6↓ / Hermes / 2.4%
7↓ / MontBlanc / 2.2% / 7↑ / Gucci / 2.1%
8↓ / Chanel / 2.0% / 8↓ / Dior / 1.9%
9↓ / Hermes / 1.6% / 9 * / Bulgari / 1.4%
10↓ / Bulgari / 1.4% / 10↓ / Samsung
11 * / Tiffany / 1.2%
12↓ / Samsung / 1.1%
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
↑Ranking up ↓Ranking down - no change * New to the Top 10
Watch, Electronic product and red wine are still top 3 of the best gifts for men. Almost half of the respondents chose Jewelry for women, followed by cosmetics and fashion accessory. Over half HNWI chose health product for elderly. For children, electronic product was still the top option. The super-rich had a tendency to gift car. Overall, category of gift giving didn’t change a lot.
Gifting by category
Best Gifts for Men※ / Ratio / Best Gifts for Women※ / Ratio1 - / Watch / 21.2% (+10%) / 1 - / Jewelry / 29.1% (-19%)
2 - / Electronic Product / 16.5% (+11%) / 2 * / Cosmetics / 15.8% (New)
3 - / Red Wine / 14.0% (-5%) / 3 * / Fashion Accessory / 15.4% (New)
4↑ / Premium baijiu / 7.9% (-2%) / 4↓ / Apparel / 11.9% (-38%)
5 - / Cigars / 7.7% (-31%) / 5↓ / Electronic Product / 6.5% (-43%)
6↓ / Imported spirits / 7.5% (-43%) / 6↓ / Watch / 6.4% (-43%)
7 * / Apparel / 5.9% (New) / 7↓ / Travel vouchers / 4.3% (-52%)
8 * / Accessories / 5.2% (New) / 8↓ / Gift cards / 2.9% (-41%)
9↓ / Art / 5.1% (-20%) / 9↓ / Art / 2.7% (+17%)
10↓ / Travel voucher / 4.4% (-25%) / 10↓ / Health Product / 1.8% (-65%)
※RMB 20,000 or less
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
↑Ranking up ↓Ranking down - no change * New to the Top 10
Best Gifts for Elderly / Ratio / Best Gifts for Children / Ratio1 - / Health Product / 35.9% (+10%) / 1 - / Electronic Products / 40.0% (-16%)
2↑ / Medical Products / 19.4% (-3%) / 2 * / Toys / 26.1% (New)
3↓ / Travel voucher / 18.5% (-15%) / 3↓ / Fashion / 12.2% (-89%)
4↑ / Gift Card Voucher / 5.6% (-23%) / 4↓ / Watch / 6.2% (-52%)
5↓ / House / 5.0% (-4.5%) / 5↓ / Car / 2.9% (-60%)
5* / Alcohol / 4.8% (New)
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
↑Ranking up ↓Ranking down - no change * New to the Top 5
The Hurun Business Confidence Index noted that over 80% respondents are positive on the Chinese economy. However, there are only 27% are ‘extremely confident’ in the economy, much lower than 35.8% of last year.
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
Blue:Extremely confident Yellow: confident
Consumption
Travel, luxury good and kid’s education are the highest expense for respondents.Sanya is still the most preferred holiday home destination, with one forth. Meanwhile, 20% preferoverseas holiday home destination, up 5%.
Travel
Travel is the number one leisure activity for Chinese super-rich. Average travel time decreased 1 day per month, with 7 days.
Europe is still the most preferred international luxury travel destination.
National, Sanya is the number on most preferred luxury travel destination for the sixth consecutive year.
Preferred International Luxury Travel Destination / Preferred national Luxury Travel Destination1↑ / France / 1 - / Sanya
2↑ / US / 2↑ / Hongkong
3 - / Maldives / 3↑ / Taiwan
4↑ / Japan / 4↓ / Tibet
5↓ / Australia / 5 - / Yunnan
6↓ / Dubai / 6 * / Sichuan
7↑ / Hawaii / 7 - / Macau
8↓ / Swizerland / 8 - / Hangzhou
9↓ / Italy / 9↑ / Xinjiang
10↓ / UK / 10 * / Beijing
11↑ / Canada
12 - / Thailand
13↓ / New Zealand
14 - / Singapore
15 / South Korea
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
↑Ranking up ↓Ranking down - no change * New to the Top 10
Jogging is the most popular sports for Chinese super-rich.
Preferred Sports by Men Preferred sports by Women
Sports / Ratio / Sports / Ratio1↑ / Jogging / 16.4% / 1↑ / Jogging / 16.7%
2 - / Swimming / 15.5% / 2↓ / Yoga / 16.2%
3↓ / Golf / 14.7% / 3↑ / Swimming / 16.0%
4↑ / Badminton / 8.9% / 4↓ / Golf / 10.7%
5↑ / Climbing / 6.5% / 5↓ / Skiing / 7.7%
5↑ / Tennis / 6.5% / 6↓ / Horse Riding / 6.2%
7 - / Diving / 5.6% / 7↑ / Badminton / 6.0%
8↓ / Skiing / 4.6% / 8↓ / Diving / 5.5%
9↓ / Horse Riding / 3.6% / 9↑ / Climbing / 4.0%
10 - / Yoga / 2.7% / 10↓ / Tennis / 3.5%
Source:《Hurun Best of the Best –Chinese Luxury Consumer Survey 2016》
↑Ranking up ↓Ranking down - no change
Health Management
Non-smoker increased from 41% to 46%. 65% female refused to become smoker.
Overseas Education
30% respondents prefer send their children for foreign study at their high school period. Over 45-year-old China’s super-rich prefer overseas university education for their children. United States and UK are still the top two destination. United States is also the most preferred immigration destination.
Social Responsibility
Philanthropy donation becomes the most preferred way for entrepreneurs to implement social responsibility, followed by taxation.
Jack Ma Yun donated US$2.3 billion, becoming the most generous philanthropist in 2015 for the second time. Tang Lixin ranks second, with donation of US$49 million. Wang Jianlin ranks third with donation of US$48.6 million.(Reference: Hurun Philanthropy List 2015)
Information Source
Social network tends to become the main source of information. Wechat makes more people relying on digital media, which is especially obvious within under 30 year old respondents.
Market Scale
By May of 2015, the number of dollar millionaires in mainland China reached 3.14 million, an increase of 240 thousand from previous year, an increase of 8%. In Hong Kong and Taiwan, there are 500 thousand and 430 thousand people respectively.
Hurun Rich List 2016swells to 1877 individuals, up record-breaking 606 with same cut-off of CNY 2bn (US$310m) as last year. 596 dollar billionaires, up staggering 242 on last year, propelling China ahead of the US for first time. Greater China now has 715 dollar billionaires, after adding in 119 billionaires from HK, Taiwan and Macao. This compares with only 537 in the US, according to the most recent Hurun Global Rich List.
Awards
The Best of the Best is for the overall winner of a category. The Star Performer is for the product / service with the best year on year performance. The Best New Arrival is for a product / service launched into China in the past 12 months that has shaken up the market.
Hurun Best of the Best Awards 2016
Jewelry & Watch & FashionBest Brand for Gifting by Men / Apple
Brand for Gifting by Men Star Performer / Cartier
Brand for Gifting by Men Star Performer / Tiffany & Co
Best Brand for Gifting by Women / Chanel
Brand for Gifting by Women Star Performer / Bulgari
Best Luxury Brand / Louis Vuitton
Overall Luxury Brand Star Performer / Bulgari
Best Jewelry / Cartier
Jewelry Star Performer / Chow Tai Fook
Best Overall Watch / Patek Philippe
Overall Watch Star Performer / Bulgari
Overall Watch Star Performer / IWC
Best Watch with High Complications / Patek Philippe
Watch with High Complications Star Performer / Jaeger-LeCoultre
Watch with Super High Complications Best New Arrival / Vacheron Constantin Ref.57260
Watch with High Complications Best New Arrival / Van CleefArpels Midnight Planetarium
Best Jewelry Watch / Cartier
Jewelry Watch Star Performer / Bulgari
Best Jade / Cui Huang Ge
Best Luxury Writing Instrument / Montblanc
Best Fashion Label For Men / Giorgio Armani
Fashion Label For Men Star Performer / Burberry
Fashion Label For Men Star Performer / Givenchy
Men's Wear Best New Arrival / Corneliani ID Jacket
Bespoke Tailoring Star Performer / De Jue Bespoke Tailor
Bespoke Men's Wear BestNewArrival / Master Tailor
Best Fashion Label For Women / Chanel
Fashion Label For Women Star Performer / Gucci
Best Accessory for Men / Giorgio Armani
Accessory for Men Star Performer / Gucci
Best Accessory for Women / Chanel
Customised Leather Goods Star Performer / Powerland
Furniture & 3C
Smartphone Brand Star Performer / Huawei
Smartphone Best New Arrival / Huawei Mate8
Best Camera / Canon
Best Kitchen Appliance / Miele
Best Luxury Kitchen Cabinet / Poggenpohl
Dishwasher Best New Arrival / Fotile Dishwasher
Air Purifier Best New Arrival / TheMoment
Best Luxury Furniture Experience Center / Davinci
Best Furniture / Armani/Casa
Furniture Star Performer / Markorhome
Best Hand Painted Wallpaper / de Gournay
Best Mattress / Hästens
Best Redwood Furniture / Yundian
Best High-end Fireplace Brand / Canature
Best Piano / Steinway & Sons
Premium Home Theater Best New Arrival / Imax Private Theatre
Best High-Tech Multi-Functional Electric Shaver / Philips
Shaver Best New Arrival / Philips-Shaver s8860
Best Coffee Experience / Nespresso
Best Vision & Creative Practical Brand / Crystal
Best Home Entertainment System / Bang & Olufsen
Cars
Best Luxury Car Brand / Mercedes-Benz
Luxury Car Brand Star Performer / Porsche
New Energy Car Best New Arrival / Denza
Best Super Luxury Executive Car / Rolls-Royce Phantom
Super Luxury Executive Car Star Performer / Bentley Mulsanne
Best Luxury Executive Car / Mercedes-Benz S-Class
Luxury Executive Car Star Performer / Mercedes-Maybach
Best Executive Car / Cadillac XTS
Best Super Luxury Car for Self-Drive / Rolls-Royce Wraith
Best Supercar / Ferrari 488 GTB
Supercar Star Performer / Porsche 911 Carrera
Supercar Star Performer / Aston Martin DB9
Supercar Best New Arrival / McLaren 570S
New Energy Car Best New Arrival / BMW 530Le
Best High Performance Sports Car / Meccedes-Benz AMG C63
Best Luxury Cabriolet / Porsche 911 Carrera Cabriolet
Best Luxury SUV / Range Rover
Luxury SUV Star Performer / Porsche Cayenne
Luxury SUV Best New Arrival / Bentley Bentayga
Luxury SUV Best New Arrival / Audi Q7
Luxury SUV Best New Arrival / Lincoln Navigator
Best Luxury MPV / Toyota Alphard
Best Motor Sports Experience Circuit / Goldenport
Classic Car Rally in China Best New Arrival / Hong Kong Beijing Rally
Best Classic Car Show in China / Bund Classic
Best Supercar Club in China / SCC
Best Luxury Car Owners Club in Shanghai / OneCityClub
Business Jets & Yachts
Best Business Jet Brand / Gulfstream
Best Ultra Long Range Business Jet / Dassault Falcon 7X
Midsize Business Jet Star Performer / Embraer Legacy 500
Best Helicopter Brand / Bell Helicopter
Best Business Jet Operator / Deer Jet
Best International Charter Services / NetJets
Best Business Jet Financier / Minsheng Financial Leasing
Best Specialist Designers for Yacht and Business Jet Interiors / Andrew Wynch
Private Aviation Best New Arrival / Astro Air
Best Super Yacht / Lurssen
Best Luxury Yacht / Ferretti
Luxury Yacht Dealer Star Performer / Simpson Marine
Best Cruise in South China / StarCruises
Drinks & Smokes
Best Premium Imported Spirits Brand / Hennessy
Best Premium Whisky / Royal Salute
Premium Whisky Star Performer / Johnnie Walker Blue Label
Best Whisky Brand / Chivas
Best Single Malt Whisky / Macallan
Luxury Premium Whisky Best New Arrival / ChivasRegalTheIcon
Best Ultra Luxury Cognac / Louis XIII
Best Cognac Brand / Martell
Best Champagne Brand / MoëtChandon
Champagne Brand Star Performer / Mumm
Best Prestige Champagne / Dom Perignon
Best Chinese Spirits / Moutai
Chinese Spirits Star Performer / LuzhouLaojiao
Chinese Liqueur Best New Arrival / Pearl Red
Chilean Wine Star Performer / Casa Sol
Best Tea Brand / Zhuyeqing Tea
Luxury Tea Brand Star Performer / Runyan Fine Oolong Tea
Herbal Tea Star Performer / Fields & Selects Camomile Tea
Best Premium Cigarette / Chunghwa
Best Cigar Brand / Davidoff
Hotels, Airlines & Travel Destinations
Best Luxury Hotel Brand / The Ritz-Carlton
Luxury Hotel Brand Star Performer / Banyan Tree
Luxury Hotel Brand Star Performer / St. Regis
Luxury Hotel Brand Best New Arrival / NUO
Hotel Brand Best New Arrival / Hualuxe
Best Luxury Boutique Hotel Brand / Aman
Luxury Boutique Hotel Brand Best New Arrival / AhnLuh
Business Hotel Brand Best New Arrival / Lia！By Minyoun
Best Art Lifestyle Hotel in Beijing / Hotel Eclat Beijing
Best Luxury Hotel in Shanghai / The Peninsula Shanghai
Boutique Hotel in Shanghai Star Performer / Hotel Indigo Shanghai on the Bund
Hotel F&B in Shanghai Star Performer / Hyatt on the Bund Shanghai
Landmark Hotel in Shanghai Star Performer / Fairmont Peace Hotel in Shanghai
Luxury Hotel in Shanghai Puxi Star Performer / Jing An Shangri-La
Art Lifestyle Hotel in Shanghai Star Performer / Jumeirah Himalayas Hotel Shanghai
Best Contemporary Cuisine in Shanghai / Ultraviolet
Best Private Kitchen / Chef‘s Table
Best Moganshan Luxury Resort / Naked Resort
Best Moganshan Luxury Boutique Hotel / LePassage Mohkan Shan
Best Luxury Hotel in Guangzhou / Mandarin Oriental, Guangzhou
Business Hotel in Guangzhou Best New Arrival / Park Hyatt, Guangzhou
Best Luxury Hotel in Shenzhen / St.Regis Shenzhen
Business Hotel in Shenzhen Star Performer / Sheraton Shenzhen Futian Hotel
Best Family Hotel in Suzhou / Kempinski Hotel Suzhou
Best Hotel in Suzhou / InterContinental Suzhou
Luxury Hotel in Haining Best New Arrival / Langham Place, Haining
Hotel in Lianyungang Best New Arrival / Sofitel Lianyungang Suning
Best Luxury Hotel in Zhangjiajie / Harmona Resort & Spa Zhangjiajie
Best Luxury Hotel in Chengdu / The Temple House
Business Hotel in Chengdu Star Performer / Minyoun Royal Chengdu Dongda Hotel
Luxury Hotel in Chengdu Best New Arrival / Wanda Reign Chengdu
Business Hotel in Chengdu Best New Arrival / Minyoun Royal Chengdu Kehua Hotel
Luxury Hotel in Chongqing Star Performer / JW Marriott Hotel Chongqing
Best Luxury Hotel in Zhengzhou / JW Marriott Zhengzhou
Luxury Hotel in Xian Star Performer / Sofitel People's Grand Xian
Best International Brand Hotel in Tibet / St.Regis Lhasa Resort
Luxury Resort Hotel in Tibet Star Performer / Shangri-La Hotel, Lhasa
Luxury Hotel in Guangxi Best New Arrival / Wanda Vista Hotel Nanning
Best Luxury Hotel in Kunming / InterContinental Kunming
Luxury Hotel in Fuzhou Star Performer / Shangri-La Hotel, Fuzhou
Luxury Hotel in Xiamen Star Performer / Hotel Indigo Xiamen Harbour
Luxury Hotel in Hainan Best New Arrival / Phoenix Island Resort Sanya
Luxury Hotel in Hainan Star Performer / The Westin Blue Bay Resort & Spa
Business Hotel in Hainan Best New Arrival / Hualuxe Haikou Seaview
Luxury Hotel in Hong Kong Star Performer / InterContinental Hong Kong
Best International Luxury Travel Destination / France
International Luxury Travel Destination Star Performer / Japan
Best Domestic Luxury Destination / Sanya
Domestic Luxury Destination Star Performer / Sichuan
Domestic Luxury Destination Star Performer / Changbai Mountain
Best International Business / First Class / Singapore Airlines
Best First Class from China to Europe / Air France
Business Class to Europe Star Performer / British Airways
Best North American Airline Serving China / United Airlines
Best Domestic Business / First Class / Air China
Best Luxury Travel Retail / DFS
Outlet Shopping Destination in China Star Performer / Value Retail Suzhou Village
Best London Luxury Shopping Destination / Harrods
Best Specialised Watch Retailer in London / Marcus Watches
Best Specialised Watch Retailer in US / Tourneau
Best New York Luxury Shopping Destination / Bergdorf Goodman
Best Paris Luxury Shopping Destination / Galeries Lafayette
Best Eco-life Hotel in Maldives / Soneva Hotel
Luxury Hotel in Singapore Star Performer / Shangri-La Hotel, Singapore
Luxury Hotel in London Star Performer / Shangri-La Hotel at The Shard
Finance, Auction & Services
Best Domestic Private Bank / China Merchants Bank
Domestic Private Bank Star Performer / ICBC
Best Foreign Bank for Personal Banking / HSBC
Best Offshore Private Bank for Ultra High Net Worths / UBS
Best Offshore Private Bank / UBS
Portfolio Management Private Bank Star Performer / Bank of Beijing
Best Bank for Global Chinese in USA / East West Bank
US Asset Management Star Performer / Henry Group
Family Office Star Performer / HMCFamily Office
Family Office Best New Arrival / Deyu Family Office
Best Independent Financial Adviser / CreditEase
Independent Asset Management Star Performer / Hanya Capital
Wealth Management Star Performer / Yilong Wealth
Best Retirement Planning Brand / Taikang Life
Retirement Planning Insurance Star Performer / Taikang Life Happiness Promises
Senior Living Community Best New Arrival / Taikang Community Yan Garden
Best Credit Card / China Merchants Bank
Credit Card Star Performer / Bank of China
Best International Credit Card Brand / Visa
Best Overseas Black Card / AmericanExpressCenturionCard
Prestige Credit Card Star Performer / Citic VISA Infinite Credit Card
Best International Auction House / Sotheby's
Best Domestic Auction House / China Guardian Auction
Wine Auction Star Performer / Acker Merrall & Condit
Best Art Media / Artron
Security Service Star Performer / China City Guard
Security Box Best New Arrival / Guanfu Treasury
Study Abroad & Immigration
Best Country for Overseas Study / USA
Country for Overseas Study Star Performer / Switzerland
Best High-end Overseas Study Brand / BE Education
Best Integrated Overseas Study Agency / Shinyway
Overseas Study Agency Star Performer / Vision Overseas
Best Overseas Study Agency for the Switzerland / Haiyi
Best Overseas Study Agency for Australia / IDP
Best EMBA / Fudan University
EMBA Star Performer / Peking University
Best School for Family Business Succession / Institute of Family Business
Etiquette Training Star Performer / Institute Sarita
Best Immigration Advisor in Eastern China / Visas Consulting Group
Best Adviser for Immigration to Europe / GlobeVisa
Immigration Advisor Star Performer / Wailian Overseas Consulting
Property
Best Central Mansion in Chongqing / SUNAC Skyline
Best Riverside Villa in Chongqing / SUNAC Rose Garden
Global Luxury Real Estate Network Star Performer / Christie’s International Real Estate
Best San Francisco Bay Area Luxury Real Estate Advisor / Pacific Union
Landmark Project in New York Star Performer / 30 Park Place Four Seasons Residences
Best Luxury Real Estate Advisor in UK / Knight Frank
Best Luxury Homebuilder in London / Berkeley
Real Estate Advisor in London Star Performer / Strutt & Parker
Best International Residential Service / JLL
Wellness
Best Spa / Banyan Tree Spa
Best Caterpillar Fungus / Very Grass 5X
Clubs
Best Presentation Award for Premium Health Institution of Anti-Senile&Cancer / Life Infinity
Best Business Leader Club / Zhisland
Best Private Club in Beijing / HK Jockey Club Beijing Clubhouse
Best Private Art Center in Beijing / Beijing Fortunes Arts Center
Horse Clubs & Others
Best Private Club in Shanghai / House of Roosevelt
Best Whisky Culture Club / JohnnieWalkerHouse
Best Private Museum in Shanghai / Long Museum
Best Performing Artist Organization / Shanghai Opera House
Best Elite Circle Club / Le Cercle Club
Best Golf Club in Shanghai / Sheshan Golf Club
Best Horse Racing Club in China / China Horse Club
Best Equestrian Club in China / Heilan Equestrian
Best Polo Club in Northern China / Tang Polo Club
Financial Multi Media Best New Arrival / Yueer Media
Lifestyle Concept Best New Arrival / Magic
About Hurun Report Inc.