Nearly 4 in 10 Singaporeans are brand conscious

Poorer countries are more brand fanatics.

Asia Pacific consumers are the most likely to be won over by designer brands with around three in five (61%) willing to pay more for designer products, higher than any other region, according to a new online study from leading global information and insights provider,Nielsen.

The Nielsen survey of more than 29,000 Internet respondents in 58 countries revealed that a staggering three in four (74%) Chinese consumers would spend more on designer goods, the highest globally, with India (59%) and Vietnam (56%) rounding out the world’s top three.

Asia Pacific consumers are also drawn to high profile brands, with more than half (55%) saying they like to buy products of famous brands, compared to the global average of 47 percent.

Singapore consumers however exhibited less fanaticism in labelsor brands.

The survey found that only 33% of Singapore consumers are willing to pay more for designer products than for those with the same functions and only 36% of them are fond of buying products of famous brands.

Among countries with highest percentage of consumers buying products of famous brands are: India (74%); Vietnam (73%); China (62%); and Philippines (51%)