Business elite have mixed taste


SHANGHAI: They wear Armani suits and use Chanel perfume, but their palates are more used to the classic Chinese liquor Maotai and Wuliangye. 

Senior managers and executives in Chinese cities have cultivated this kind of taste mix, according to a consumption behaviour survey released by the management-themed magazine Global Sources Chief Executive China last weekend. 

The survey, using 1,226 questionnaires collected over the past six months, says more than half of Chinese managers care about brands, particularly international products like Gucci purses and Nokia cellphones. 

Liquor was the only exception in the survey. Some 71% of the respondents chose Wuliangye as the liquor they buy most often, and 61% chose Maotai. 

Remy Martin followed with 39% choosing this, while Chivas Regal and Hennessy got 38% each. 

On average, every manager spent US$865 (RM3,287) on clothing, US$489 (RM1,858) on leather products, US$391 (RM,1485) on scent, US$615 (RM2,337) on wine and US$888 (RM3,374) buying watches every year, the survey said. 

More than half of the managers earned more than 500,000 yuan (US$60,500) gross family income each year. 

“Brand-name products help elevate a manager's professional image,” said Jim Zhou, president of the Fyeone Property Consulting Company in Shanghai. 

But there were different opinions. Some 83% managers chose named brands because they trusted the quality, 52% believed they reflected their taste, 42% said they needed brands to boost their confidence, and 39% wanted brands to make a statement about their status. 

Clothing was the commodity most often bought by the business elite, with more than a quarter of managers surveyed buying clothing more than once a month. 

But when it comes to expensive watches, 71% bought less than one a year. – China Daily.  

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