The rich in China are less status-driven today than they were five years ago, according to a study released Monday by accounting giant KPMG.
In its fourth report in five years on China's moneyed class and its reasons for spending money, KPMG reports that while the affluent still buy to prove they're wealthy, art collecting and travel have become outlets for splurging as well.
In 2006, 46% of luxury purchases were motivated by 'status,' KPMG reported. Spending for 'connoisseurship' ─ as in, adding to a collection and 'self-reward' registered at 8% and 21%, respectively. Today, status is now the motivating factor only 33% of the time, while values like connoisseurship and self-reward rank higher ─ 18% and 26%, respectively as the key reason for luxury splurges. And according to KPMG, this change in attitude means that the biggest growth areas in high-end consumption are in sectors such as spas, travel and art collecting.
'We see a clear shift from status-driven buying to something more complex,' said Nick Debnam from KPMG China. 'When you look at China five years ago, it was clear that people were buying to show other people that they've made it. If you bought the Louis Vuitton bag, people know you're wealthy. But now, it's a lot more like the Western drivers for luxury: You've got some people who are collectors, and many others who are spending for experiences.'
The survey, conducted with market research firm TNS China, polled 1,200 higher-income consumers in 24 cities.
Mike Clarke/AFP/Getty Images3月，伊丽莎白女王号游轮停泊在香港。这是毕马威五年来第四次发布有关中国有钱人及其花钱理由的报告。报告说，虽然中国富人仍在用购物证明他们的富有，但同时他们也开始在艺术品收藏和外出旅游等方面大肆消费。
毕马威中国(KPMG China)的戴力行(Nick Debnam)说，中国富人显然在发生转变，以前是为了显摆身份购物，现在则有着更复杂的理由；五年前你可以明显看到，中国人买奢侈品是为了向其他人炫耀自己的成功，因为如果你买了一个路易威登(Louis Vuitton)的包，别人就会知道你是有钱人，但现在，他们更像是以西方人的理念进行奢侈消费，有些中国人成了收藏家，还有很多人花钱是为了获得种种人生体验。