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7 June 2006
Bangkok
According to a global online survey of 23,500 consumers in 42 countries conducted by ACNielsen in November 2005, 77 percent of worldwide consumers perceive that designer brands are overpriced and nine in 10 Thai consumers perceive the same. Ralph Lauren is the world’s most popular designer brand followed by Gucci, Christian Dior and DKNY. Yet when it comes to the most coveted brand if money were no object, Italian fashion powerhouses take the lead, with Giorgio Armani the most aspired-to, followed by Gucci and Louis Vuitton.
Globally, 21 percent of internet consumers purchase designer brands and 77 percent of them claimed that designer brands are usually overpriced for what they are. In Thailand, however, more than three quarters of consumers claimed that designer brands products are too expensive and nearly half of them mentioned that designer brands are of significantly higher quality than standard brands. Moreover, Thailand (70%) was ranked the top two markets globally (after Indonesia at 73 percent) with most people believe those wearing designer brands products are trying to project social statue.
When asked consumers which of designer brands they purchased, 16 percent of global internet consumers purchase Ralph Lauren followed by Gucci (14%), Christian Dior (12%) and DKNY (12%) completed the top four designer brands currently most purchased among the world’s internet consumers.
In Asia Pacific, the popularity of these brands were in line with the world ranking, except that Louis Vuitton (LV) also made the top five ranking, with at least one in ten claiming to have bought the French brand’s products. In fact, nine of the top 10 markets with most people buying LV products hailed from Asia Pacific, with Hong Kong (23%) and Japan (17%) the top two markets globally purchasing Louis Vuitton while Thailand was ranked the seventh on the list.
In Thailand, 18 percent of consumers purchased designer brands. DKNY (17%) was the first ranked from the top 5 designer brands purchased, also Thailand was among the top three countries where consumers purchased DKNY most in Asia, with Christian Dior (15%), Chanel (12%), Giorgio Armani (11%) and Louis Vuitton (9%) follow closely.
“A brand cannot be built overnight and it is even more difficult to sustain. To be successful in diverse international markets, these designer brands have to consistently ensure the ‘values’ their designs represent will transcend cultures and age groups, although it is not an easy feat in the fickle fashion industry where trends and fads are the order of the day,” added Mrs. Chantira Luesakul, Managing Director, ACNielsen Thailand.
Most aspired brands… if money were no object
When asked which designer brands they would buy if money were no object, consumers in Asia Pacific certainly had their own list – leading consumers in all other regions in their aspirations towards Louis Vuitton (32%). Other brands that top the list for Asia Pacific consumers include Giorgio Armani (28%), Chanel, Christian Dior and Versace (respectively 22%). In Thailand, if money was no object, consumers ride on the wave with the region choosing Louis Vuitton (32%) followed by Gucci (30%) and Giorgio Armani (22%). (Table 1)
“These internationally acclaimed designers well understand that strong brands make for profitable businesses. They are not merely selling fashion – they are selling an image - something consumers are willing to pay a premium for,” Mrs. Luesakul commented. “Such positioning works exceptionally well in fast growing market where people have become more sophisticated with increasingly higher disposable income.”
The ACNielsen Global Online Survey, the largest twice-yearly survey of its kind, is aimed at gauging consumers’ opinions to a variety of subjects ranging from current confidence levels, spending habits/intentions, current major concerns and attitudes. The online survey interviews 23,500 consumers in 42 markets across Europe, Asia Pacific, UAE, North and Latin America about their current and aspirational fashion brand purchasing.
About ACNielsen
ACNielsen, a VNU business, is the world's leading marketing information provider. Offering services in more than 100 countries, the unit provides measurement and analysis of marketplace dynamics and consumer attitudes and behavior. Clients rely on ACNielsen's market research, proprietary products, analytical tools and professional service to understand competitive performance, to uncover new opportunities and to raise the profitability of their marketing and sales campaigns. To learn more, visit www.acnielsen.com.
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