Factors for switching to another luxury brand in Greater China 2022
Luxury brands with ethical and sustainable practices are more likely to win more consumers in Greater China. A 2022 survey on luxury consumers in mainland China and Hong Kong discovered that one in five respondents would abandon the brand they are loyal to and go for a new brand that is better aligned with their values either in social or environmental responsibility. Social marketing and influencer endorsements were less effective among loyal luxury consumers, with only 13 percent of respondents choosing it as a reason for switching to another brand.