Research and consulting firm Agility Research & Strategy just released its second Wave Of The Trend Lens consumer study, which is a follow-up to the initial series of interviews it conducted in late-January/early-February of 2020 at the beginning of the COVID-19 pandemic. For the study, Agility interviewed 1,040 affluent and HNWI individuals in mainland China, with each respondent having a minimum of $1 million in assets under management (excluding their primary residence).
“In this study, which we conducted across the Asia Pacific and in eight key markets to gauge the post-COVID-19 impact, China has emerged as a resilient market and one that seems to be a bright spot for Luxury brands this year,” says Amrita Banta MD from Agility Research & Strategy. “Along with China, affluent consumers from Indonesia and India were also more optimistic across key metrics while Malaysians, Japanese, and Singaporeans seemed more cautious about the economic climate and were looking to cut back on their spending.”