we believe it takes an inspiring story to make people buy
Straight from the customer come these words that I have come across during days spent with luxury buyers across age groups, income classes and backgrounds all parts of India from Chandigarh to Chennai here is my report on WHO BUYS LUXURY IN INDIA.
Luxury buyers are no unique breed. Every part of India consumes luxury. Every section of the society consumes luxury. Income class and education do not define luxury consumers.
Consumer relationship with luxury in 5 different ways:
1. I feel taller
“If I want to get the best deals with clients and partners, stepping out of a Mercedes or a BMW is a non negotiable. The clothes, watches, shoes and bags I wear have to be recognizable luxury brands. It plays a huge role subconsciously. You need to look like you have arrived even along the way.”
A good part of Indian SME’s reside in smaller towns, family businesses where education is not a pre-requisite.
2. I feel sexier
“My exclusive bag gets tons of compliments from my social circle.”
Women from traditionally affluent backgrounds cannot be seen in anything less than exclusive.
3. I command respect
“As a President I am representing my company and cannot be looking anything less than successful and prosperous.”
Gold collar professionals adhering to protocol. Dress to match the stature of the organisation you are representing.
4. I live my dream
“I work hard to play hard. As I child I saw my cousins from London wear a Burberry jacket and wished to own one. Today I own a lot of luxury brands”
The large number of successful couples are unapologetic spenders. After a number of years of handwork to climb up the corporate ladder these double income families are now living a life complete of luxury food, travel, fashion and lifestyle products.
5. I feel complete
“I use things that are a reflection of me. I wouldn’t feel myself in any and every brand”
Evolved luxury consumer, mostly from families with ancestral wealth. Or anyone who wants to come across as that.
The 5 relationships are taken from study by Walpole and Added Value across different markets.