According to a 2021 survey on willingness to spend to highlight social status, 74 percent of the respondents in China earning 30,000 yuan and above indicated that they are willing to spend more on buying products that highlight their social status. On the other hand, 59 percent of the respondents that were earning 8,000 yuan and below indicated that they are not willing to spend more on buying products that highlight their social status.
Willingness of consumers to spend on social status items in China as of June 2021, by income group
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Accenture. (March 28, 2022). Willingness of consumers to spend on social status items in China as of June 2021, by income group [Graph]. In Statista. Retrieved May 15, 2024, from https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/
Accenture. "Willingness of consumers to spend on social status items in China as of June 2021, by income group." Chart. March 28, 2022. Statista. Accessed May 15, 2024. https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/
Accenture. (2022). Willingness of consumers to spend on social status items in China as of June 2021, by income group. Statista. Statista Inc.. Accessed: May 15, 2024. https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/
Accenture. "Willingness of Consumers to Spend on Social Status Items in China as of June 2021, by Income Group." Statista, Statista Inc., 28 Mar 2022, https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/
Accenture, Willingness of consumers to spend on social status items in China as of June 2021, by income group Statista, https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/ (last visited May 15, 2024)
Willingness of consumers to spend on social status items in China as of June 2021, by income group [Graph], Accenture, March 28, 2022. [Online]. Available: https://www.statista.com/statistics/1316820/china-consumer-willingness-to-spend-on-social-status-items-by-income/