HNWI: Strategies for winning hearts and mindshare of Asia’s affluent

Resonating with high-net-worth individuals (HNWI) has been an evolving journey for marketers, and ESSEC Business School’s Sonja Prokopec outlines how luxury brands can strategise their approach to stay ahead of the curve.

In spite of the whirlwinds faced by consumers in recent years due to the pandemic and looming recessionary woes, the number of ultra-high-net-worth individuals (UHNWIs) globally increased by 9.3% in 2021, with over 51,000 people seeing their net assets rise to US$30 million or more, according to a recent report.

As the affluent continue to grow in strength with countries like France, Japan, mainland China, UK and US as the major contributors, Asia leads against other continents and is building a name for itself as the leading wealth hub globally. With the highest forecasted growth  in...

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