Wall Street Journal reports on a survey conducted by Synovate on the shopping habits of the wealthy across the world; conducted across 8,000 people in 11 markets around the world—the U.S., Brazil, Canada, France, Netherlands, Spain, Hong Kong, India, Taiwan, the United Arab Emirates and the U.K. The findings are interesting.
In Hong Kong, India and UAE, luxury shoppers want to see the logo prominently on the product. The reasons mentioned are as follows.
- Since counterfeiting is prevalent in their market, a prominent brand logo suggests the authenticity of the brand
- The nouveau riche in these countries want to flaunt their success to their peers. For them, the brand logos are essential to the display of wealth.
In contrast, luxury shoppers in US and UK behave very differently. They are more likely to choose luxury goods without logos.
- 50% of the respondents in US said that they felt guilty purchasing luxury goods