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By Lailany P. Gomez, Researcher
UNTIL late last year, Filipinos were among
Asia’s most fashion-conscious, as they aspired for designer brands
like Calvin Klein and Louis Vuitton on the back of an expanding
economy, according to a Nielsen report.
In its “Global Luxury Brands Study,”
conducted last November, the media company said the Philippines
ranked third among the most designer-conscious consumers in Asia,
trailing Hong Kong and India.
The study showed that Calvin Klein is the most
popular brand among Filipino respondents, even as the majority
patronizes local designers’ products.
Louis Vuitton (LV), Chanel and Gucci are the
three most popular brands in Asia if money were not a problem.
Louis Vuitton appeals most to three Asian
markets, with the Philippines topping the list, trailed by Hong Kong
and Singapore.
“Louis Vuitton has consistently brought out
interesting designs and new product ranges that meet the diverse
appetites of many Asians,” Benedicto Cid Jr., managing director of
Nielsen Philippines, said. “LV has also held their brand values
constant, which is critical for any brand to maintain customer
loyalty and to appeal to potential followers,” he added.
Although knockoffs are popular in Asian markets,
more than half of the Nielsen respondents, largely Japanese,
Taiwanese and Chinese, disagree that imitations can equal the
quality of the original products.
“Asia is considered by many international
brands as a major sales region with the improving personal financial
status of Asian consumers and with the opening up of various
developing markets, there is huge room for growth in the luxury
sector,” Cid said.
In Asia, Filipino consumers are the most likely
to buy products such as mobile phones, flat screen TVs, and MP3
players if they bore luxury fashion brands. Chinese consumers
meanwhile are the most likely to buy designer-branded laptop
computers.
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