Hong Kong Women Have Retail Clout

By Butterboom Writers  /  August 13, 2008

New survey reveals HK women are the most financially independent in the region.

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Not that this is anything new to Butterboom.com readers, but Synovate has released some new findings from a survey of 2,000 women they did across Hong Kong, China, Singapore and Malaysia from the ages of 15 to 64 across all income levels:

Eighty one percent of Hong Kong women can afford to pay for what they want without asking for money from their partner and 87% have at least an equal say on big ticket items, such as property and cars, according to recent survey by global market research company Synovate.

The Synovate survey revealed that while Hong Kong women were the most financially independent (81%), their mainland counterparts are not far behind (75%), followed by Singaporeans at 74%. Malaysian women are the least independent with only 42% confirming that they can afford to pay for what they want without asking for money from their partners or husbands.

While Hong Kong women only spend 11% of their monthly personal income on shopping, preferring to allocate a bigger proportion to savings and investments, mainland women spend over half of their income on shopping.

The findings continue on:

The survey also revealed various attitudes towards buying clothes and accessories and found that 60% of Hong Kong women consider shopping part of their daily routine. In China, shopping is more of a therapeutic past-time with 87% of mainland women hitting the stores to feel better, while 74% of Malaysians shop to hunt for bargains.

“We noticed a geographical correlation appeared in terms of attitudes towards shopping – women are more practical in the south (88% of Malaysians do not shop to show off and similarly 86% of Singaporeans) and they spend a low proportion of their monthly income on retail therapy.

In the north however, mainland women spend a much higher proportion of their monthly income on shopping and enjoy this past time to show off (32% of Shanghai women and 27% of Beijing women). Hong Kong women fall somewhere in the middle with 22% agreeing they shop to show off,” Telford said.

With the China really stepping up their green efforts for the Olympics this section is very interesting:

“While 31% of women in Beijing admitted they are ‘very concerned’ about the effects  of climate change (versus 18% of Hong Kong women), this may well stem from the hope for a clean, green, successful Olympics. 2 Yet Hong Kong women are the most willing to pay a premium for an environmentally friendly product (79%), compared to their mainland counterparts (72%), followed by Singaporeans (67%) and Malaysians (49%).

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