Hurun Research Institute surveyed 551 Chinese millionaires from 31 cities between June and December 2012. The respondents had personal net worth of at least 10 million yuan and their average age was 38 years. The ratio of men to women was 7:3.
Moutai ranked fifth in the previous year's study, but dropped off the list of the 10 most popular branded gifts in the latest report, to 13th place on the back of a public debate about corruption among government officials—the largest customer base for Moutai—and following a health scare involving the use of plasticisers.
French winemaker Chateau Lafite was the only other alcohol brand to make the list at 10th place, a clear representation of the Chinese luxury consumer’s newfound love of imported wine.
Moutai, a sorghum-based white spirit, retails at 1,800 yuan (US$290) a bottle, while the price of a bottle of Chateau Lafite 2008 is around 7000 yuan.
Despite its drop in popularity, Moutai is still the only Chinese brand to make it into the fifteen position. French gifts are all the rage, with Louis Vuitton, Hermès, Chanel, Cartier, and Dior dominating the list.
The UK has a new entry in the top 10 in the form of fashion brand Burberry. Italian brand Gucci and German brand Montblanc also broke into the list for the first time. Swiss watchmaker Longines was the only watch brand to make the list, replacing the more expensive Rolex brand, which dropped off the list altogether.
Hurun Report founder and chief researcher Rupert Hoogewerf said there is a clear trend towards gifting more modestly priced top luxury goods.
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