Home / Knowledge / News / Textiles / Non-metros emerging consumers of luxury: CII-IMRB report
Non-metros emerging consumers of luxury: CII-IMRB report
25
Nov '15
A CII-IMRB report has found that Tier 2 and Tier 3 cities in India are poised to fuel the growth of the luxury segment. The report titled 'Emerging Consumers of Luxury – India Tiers 2 & 3', jointly published by CII and IMRB International was finalized through a face-to-face research with high net-worth individuals in non-metros, men and women in the age group of 20-55 years, with an annual household income of over Rs 1 crore, about Luxury product categories owned by them and how do they currently access and engage with luxury products/ brands in India, CII said in a press release.

The research was conducted in tier 2 & 3 cities like Chandigarh, Ludhiana, Kanpur, Coimbatore, Bhopal, Patna, Kochi and Rajkot. While globally the Indian market is the 5th largest consumer market, its share in luxury segment is yet to capture the top 50 for most categories.

From the report, it's amply clear Indian men in non-metros continue to seek power and status to validate their position in life, just like their urban counterparts. While non-metro women are happily indulging themselves, encouraged by the exposure to international fashion and fascinated by the easy availability of hitherto inaccessible luxury products, they seek high fashion and style and are ready to pay for it. However women are a cautious group with just a couple of designer handbags to ensure just the right impression in society. The small town woman still carries her cultural baggage along with her new found modern and semi westernized identity.

The top three aspects Indian consumers value in Luxury Products currently are Quality, Luxuriousness and Fashion Quotient. However, despite this, luxury brand communication in India is very imagery and celebrity-led, except in categories like automobiles, the report.

In the Tier 2 and 3 cities surveyed, luxury automobiles have the highest penetration, followed by apparel for women and accessories for both sexes. Electronic gadgets like mobiles and home electronics also have a reasonably high penetration. In keeping with what we saw as the psychological characteristics of the consumer in these cities, men tend to need to signal their power or status that is possibly best done through automobiles which by sheer size and presence is hard to miss, even on crowded roads. Women on the other hand tend to be more hedonic and buy to enjoy, possibly explaining the prevalence of luxury apparel. Men's watches too, are a category often portrayed as signals of power, heritage and opulence, thus fitting in with the need for social signaling, whereas men's apparel even in metro India is yet to get into the luxury sphere with any intensity.

According to the report, the more esoteric or experiential aspects of luxury ownership – art, travel etc – are still at very low levels of penetration, arguing for a consumer who is as yet on the preliminary, signaling, level of luxury consumption. Few luxury consumers in the smaller cities seem to be in the individual/ self-identity state of mind. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search