Synovate pax2010-hk-factsheet


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Synovate pax2010-hk-factsheet

  1. 1. Fact Sheet Synovate Ltd Tel +852 2881 5388 9/F Leighton Centre Fax +852 2881 5918 77 Leighton Road Causeway Bay Hong Kong From Teresa Cheung Marketing Manager Phone +852 2830 2533 Date 12 October 2010 Synovate PAX - Hong Kong fact sheet HONG KONG – Synovate, one of the world’s largest market research firms, today revealed the annual results of its long-running Pan Asia Pacific Cross Media Survey (Synovate PAX) for 2010. In its 14th year, Synovate PAX is the region’s most comprehensive consumer study, tracking media and digital consumption, prosperity, and influence amongst affluent Asians across 11 markets from Hong Kong, Singapore, Korea, Taiwan, Thailand, Malaysia, India, Indonesia, the Philippines, Japan to Australia. The survey is a comprehensive guide for Asia’s media owners, agencies and marketers to understand affluent Asians, typically the top 20% of society based on monthly household income. Synovate PAX answers key questions such as:  Which personal and household items – technology, luxury, financial products and all - do elite Hong Kong residents currently own?  What are the latest trends?  What are the lifestyle choices of wealthy Hong Kong elites? Technology is mainstream  Smartphone ownership more than doubled over the year, rising from 11% to 22.4%.  Conversely, those who owned a mobile that is not a smartphone dropped from 93.5% to 87.7%.  Ownership of laptop computers has slightly increased from 53.3% to 54.9%.  Handheld PCs/Palm Tops or PDAs are up from 18.3% ownership to 19.5%.  Ownership of MP4 Players among Hong Kong elites has risen from 16.6% to 18.7%.  Printer/scanners dropped from 61.7% to 55.1%, as Hong Kong becomes more paperless.  Hong Kong leads regional household ownership of high tech TVs, with 72.7% owning a LCD TV, plasma TV or HDTV.
  2. 2.  The HDTV category has enjoyed explosive growth, up from 36.3% to 53.1% over the course of a year. Another 15% of elites say they intend to buy one in the next 12 months.  Ownership of digital video and still cameras dropped slightly, (49.9% and 83.6% respectively), perhaps indicating that people are starting to use smartphones for daily image recording needs. Hong Kong leads luxury  In the land of luxury, now more than half of affluent Hong Kong people own one or more luxury items (50.7%, up from 47.5% last year).  28.8% own designer clothes and leather goods worth US$500 or more, and 16.1% own the same but worth more than US$1,000.  Designer footwear and accessories are not forgotten, with 17.6% owning these to the value of US$500 or more.  Jewellery is highly desired, with 32.5% owning one or more pieces valued at US$1,000 or more.  Similarly, luxury watches are still number one for ownership in Hong Kong, with 35.8% owning one to the value of US$500 or more, and 28.8% own a timepiece of US$1,000 value or more. Financial products in a financial centre  Hong Kong elites bounced back into unit trust and mutual fund ownership this year, reflecting economic conditions (21.9% in 2008, 15.1% in 2009 and 19.3% in 2010).  Ownership of life insurance policies among affluent Hong Kong residents is at 64.4%.  Hong Kong is the second highest group in the region with offshore accounts for investment purposes at 9.1%. The top market is Taiwan at 12%.  Also highest in the region, 23.9% of Hong Kong’s affluent own foreign currencies as an investment and 37.5% have a privileged or priority bank account. Hong Kong attitudes Respondents were asked if they agree with a variety of statements. The results for those saying they agree or strongly agree with the statements are:  84.9% agree that spending time with family and friends is important to them.  81.1% of Hong Kong elites believe that companies and businesses should demonstrate the practice of corporate social responsibility, up from 75.7% last year.  36.7% keep up-to-date on the latest global financial situation. Notes to editor 1) The PAX survey was conducted from Q3 ’09 to Q2 ‘10 and Synovate spoke with 1,674 Hong Kong respondents to get the 2010 results. 2) Please see media release and other fact sheets for more information about the Synovate PAX results across the region. 3) Please contact Teresa Cheung on +852 2830 2533 for any further information.
  3. 3. 4) To receive the most updated news on Synovate globally, please subscribe to About Synovate Synovate, the market research arm of Aegis Group plc, generates insights to help clients drive competitive brand, product and customer experience strategies. A truly borderless company with offices in over 60 countries, Synovate’s 'biggest small company' approach combines best in class global research capabilities with personalised service, local knowledge and the flexibility to create teams and processes that meet clients' specific requirements. At Synovate, clients sit at the top of the company’s organisational chart, driving it to continually develop more innovative research solutions that predict actual business outcomes. To learn more visit