Luxury Brands and Products

bangalore shoppingThe Indian Consumer is steadily moving up the Lifestyle pyramid and today has enviable size in the Luxury segment. In a latest research undertaken by Synovite, the findings are a bit surprising as from the trends in the rest of the world making India a niche again in its own way. Excerpts of the finding,

  • What is Luxury Brand / Product to an Indian Consumer – 26% of them say it is more of the best quality rather than the price, just 14% talk about the appeal while 21% say its all about Lifestyle. While in the US a whopping 43% think it is all about Everything over and above what you need.
  • The Most Sought after Luxury Product in India – Fine Jewelery and Designer clothing is luxury to half of Indians followed by top of the line Cars. While 51% Americans think it is all about Cars
  • Luxury Brand Logo Matters – It is unanimous on the minds of Indian consumer that a Brand Logo is a must, especially when they are paying a big price. While Americans prefer Non-Logoed items.
  • What is the most cherishing moment of owning Luxury – Most think it is the reputation of the brand and the special feeling of pride that gives the Indian consumer a new attitude.
  • Luxury Items one is most likely to purchase – Perfume / Colognes[19%] followed by Sporting Equipment / Clothing [15%] , Costumes / Cosmetic jewelery [14%] and 9% opted for Leather Designs.

So if you are looking to retail or service this segment of the strata of the Indian Consumer, you know what to do now 🙂