Mr. Patrick Cheung, Chief Digital Officer of Chow Tai Fook Jewellery Group joined the HSBC Future Wealth Conference 2025 on 5 July to share insights into new consumer trends in Asia, with a focus on the emotional economy.

As a featured panellist, Patrick highlighted how the Group’s product optimisation strategy for IP collaborations has successfully captured the attention of a new generation of consumers. A prime example is the partnership with China’s first domestic AAA game “Black Myth: Wukong,” which has not only resonated strongly with male customers, driving demand for self-purchases over gifting, but also tapped into younger consumers’ desire for emotional connection and personal expression. Patrick noted that this shift is driving consumption of IP-related products and accelerating the growth of the IP derivative economy, which businesses are capitalising.

For sophisticated investors, the trend heralds a fundamental restructuring of how value is created and perceived in the luxury market. He shared that emotional resonance is now a key driver of contemporary consumer behaviour in the sector.

In addition to IP strategies, Patrick discussed the Group’s development in technology and digitalisation, such as leveraging AI, data analytics, and smart retail solutions to significantly enhance omnichannel consumer experience and operational efficiency. During the event, attendees were introduced to the Group’s forward-thinking approach and ongoing momentum in accelerating digitalisation.

The conference, a premier event that gathered Asia’s leading wealth managers, brand leaders and visionaries, served as a platform to discuss significant paradigm shifts in the market, including emerging consumer behaviour in the luxury market and their implications for the wealth sector.