Taiwan has risen to rank as the first-wealthiest country in terms of net financial assets per capita, the Allianz Global Wealth Report 2022 said. Many Taiwanese rich families are engaging in professional help to preserve their wealth and expand investment opportunities overseas. Mr Abner Koh, executive director at BDO Tax Advisory, shared to The Straits Times that BDO is observing a proliferation in inquiries from ultra-rich in Taiwan about setting up family offices in Singapore.
Many companies would classify and identify the high net-worth individuals (HNWIs) quantitatively with their wealth, while analysing their wealth portfolios on financial assets and particularly equities, bonds and other securities traded in international markets. This aroused a question to us – Is there a way we could comprehend the behaviours and interests of HNWIs outside of the financial market?
Table of Contents
Three Key insights of Taiwanese High Net-worth Individuals (HNWIs):
Immersing in the finance, investment, and property world on mobile
There is no doubt that Taiwan HNWIs are aware of financial, investment and property news, but we could deep dive with dimensions of app interest. It has been discovered that –
- 6.4% of apps are finance apps on average for HNWIs audiences, which is 42.8% above Vpon’s population average.
- Finance & Business app category is ranking No.1 in App Interest by comparison (excluding tools & communication), followed by House & Home and Medical.
Fuelling a healthier lifestyle and dining habit
Taiwan HNWIs have heightened health consciousness and living a more balanced and healthy lifestyle
- As extracted from Vpon Point-of-Interest (POI), HNWIs are observed to have strong preferences in visiting ‘Health meal and vegetarian’ & ‘Dietary Supplement’ stores are among the Top 10, as in comparison ranking vs Vpon population.
- Organic Products are popular among HNWIs, and would usually purchase from e-commerce sites, with 66.4% of consumption happening on Shopee.
Meeting beauty goals with aesthetic medical and make-up & skincare products consumption
- Make-up products ranked after organic products on e-commerce most-preferred e-commerce categories among HNWIs, with momo as the most-purchased channel.
- Audiences observed have more frequent visits to beauty clinics and salons, demonstrating HNWIs are advancing their spend from pure product use to aesthetic treatment and facials.
Note:
The report is generated by Audience Insight Report, which primary observes the behaviour generated by the use of mobile devices within a population. Therefore, the results are ranked by comparison % based on the population. This report does not directly reflect the actual physiological conditions of the population or the characteristics of behaviours generated by other non-mobile-device-related factors.
Source:
● World Population Review – Taiwan Population (2023)
● CEIC Data – Taiwan GDP per Capita (2022)
● UBS Global Wealth Report (2023)
● Allianz Global Wealth Report (2022)
● The Straits Time – Article ‘Singapore sees upsurge in interest from Taiwan’s ultra-rich to set up family offices here’ (2023)
