(Yicai Global) Nov. 08 -- Young Chinese consumers have a real passion for luxury brands and twenty-somethings born between 1995 and 2000 have just arrived on the scene today.
60 percent of the respondents chose Chanel as their favorite brand, followed by Gucci and Hermes in second and third place respectively, according to a Yicai-Tencent market survey.
The survey reveals that 66 percent of the post-95 generation are indifferent to clothing brands, but 74 percent of them think that brand names are important when it comes to cosmetics.
Luxury goods are still a dream for most post-95s consumers today. The majority of them hope to have one luxury item, but the things they buy are mostly small 'entry-level' luxury accessories such as cosmetics.
Xiaoxiao, aged 21, told our Yicai Global reporter, "I bought some luxury cosmetics and some inconspicuous luxury handbags. As I grew up, I realized that it's worthwhile to buy happiness with money. Most people today consider luxury items as a status symbol, and it motivates them to make more money."
Chanel offers a full range of cosmetics products. For young people, they can spend a few hundred yuan on a Chanel lipstick or nail polish, which is not completely beyond their means.
In the case of Gucci, its new Chief Creative Director appointed last year created the 'geek chic' culture, bringing the brand to a new height in both forward-looking fashion and catching the latest trend. No wonder the former middle-aged brand appeared in the favorites list of the post-95 generation.