Luxury Brands Insights
MAVERICKS AT WORK
LUXURY BRANDS MARKETING
Executive Summary
Over years, India’s tryst with luxury brands has changed gears. With high disposable incomes and a penchant for all things luxury amongst affluent Indians on the rise, the country is emerging as the next stopover for global luxury brands such as Gucci, Christian Dior and Versace. However, we must realize that Luxury marketing is a whole new ball-game altogether, both from the perspective of the marketer as well as the luxury consumer. It therefore becomes important to view it both in relation and isolation from the ‘regular’ goods marketing.
To achieve the above objective, we would first look at how luxury goods are different from regular goods and then go on to explore some facets and trends of the luxury goods as well as their market and consumers. This analysis would finally sum up into a SWOT analysis of the luxury goods segment, thereby helping in obtaining a bird’s eye view of the exercise at hand.
Considering that the luxury concept has shifted to the ‘new’ meaning, we would further delve into that aspect to understand the drivers for luxury brands presently, as well in the time to come. This is followed by a luxury potential determination of the Indian market both in terms of quantitative growth factors as well as qualitative initiatives.
INDEX
Abstract 5 Objectives & Sub Objectives 6 Research Design 6 Getting To Know Luxury 8 Difference Between Regular & Luxury Goods 10 Luxury In India 14 Qualitative Insights 15 Quantitative Insights 16 The Affluent Indian: Profiling The Indian Luxury Consumers 17 Classification Of The Indian Luxury Consumer 21 4p Trends 24 Consumer Trends 29 Strategies For Luxury Marketing In India 57 Moving Forward 66 References 69 Annexure 70
“Why do I need to know how the watch market is doing? I’m in the business of luxury”
Partick Heiniger, CEO, Rolex
GETTING TO KNOW LUXURY
Luxury brands have often been associated
LUXURY BRANDS MARKETING
Executive Summary
Over years, India’s tryst with luxury brands has changed gears. With high disposable incomes and a penchant for all things luxury amongst affluent Indians on the rise, the country is emerging as the next stopover for global luxury brands such as Gucci, Christian Dior and Versace. However, we must realize that Luxury marketing is a whole new ball-game altogether, both from the perspective of the marketer as well as the luxury consumer. It therefore becomes important to view it both in relation and isolation from the ‘regular’ goods marketing.
To achieve the above objective, we would first look at how luxury goods are different from regular goods and then go on to explore some facets and trends of the luxury goods as well as their market and consumers. This analysis would finally sum up into a SWOT analysis of the luxury goods segment, thereby helping in obtaining a bird’s eye view of the exercise at hand.
Considering that the luxury concept has shifted to the ‘new’ meaning, we would further delve into that aspect to understand the drivers for luxury brands presently, as well in the time to come. This is followed by a luxury potential determination of the Indian market both in terms of quantitative growth factors as well as qualitative initiatives.
INDEX
Abstract 5 Objectives & Sub Objectives 6 Research Design 6 Getting To Know Luxury 8 Difference Between Regular & Luxury Goods 10 Luxury In India 14 Qualitative Insights 15 Quantitative Insights 16 The Affluent Indian: Profiling The Indian Luxury Consumers 17 Classification Of The Indian Luxury Consumer 21 4p Trends 24 Consumer Trends 29 Strategies For Luxury Marketing In India 57 Moving Forward 66 References 69 Annexure 70
“Why do I need to know how the watch market is doing? I’m in the business of luxury”
Partick Heiniger, CEO, Rolex
GETTING TO KNOW LUXURY
Luxury brands have often been associated