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India is 3rd most brand conscious country globally
27 Mar '08
4 min read
“With the flourishing Indian economy and greater disposable incomes of consumers, India has become a potential hub for designer brands from across the world. The increasing experimental nature of consumers in India has also helped the fashion industry to spread its roots in the country,” continued Pant
Though 73 percent Indians feel that designer brands are usually overpriced for what they are, 35 percent also believe that designer brands are of a significantly higher quality than standard brands. India stands eighth globally which thinks designer brands are quality products andinvest in it inspite of the price. 45 percent Indians think that only fashion conscious people consider buying designer brands.
The Path Ahead for Designer Brands:
Designer brand appeal has certainly spread across sectors. According to the Nielsen survey, consumers in India 'approved' the potential of a crossover product between a designer fashion brand and a new technology gadget – 56 percent Indians surveyed would buy a mobile phone that was co-branded with a luxury brand – an area already tapped into by fashion giant like Prada. 40 percent said they would buy a co-branded designer laptop computer, 32 percent a “designer” flat screen TV, 26 percent would go for a designer branded MP3 and 24 percent would buy a designer kitchen appliance.
“There seems to be a huge market potential for luxury brand line extensions into every corner of the home and office and cross-over between brands and products is certainly an opportunity to drive the demand for these products,” added Pant.
The Survey:
The latest survey, conducted in November 2007, polled about 26,312 internet users in 48 markets from Europe, Asia Pacific, North America and the Middle East. 500 interviews were conducted in India.
The Nielsen Online Consumer Confidence and Opinion Survey is the largest half-yearly survey of its kind, aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe.
Though 73 percent Indians feel that designer brands are usually overpriced for what they are, 35 percent also believe that designer brands are of a significantly higher quality than standard brands. India stands eighth globally which thinks designer brands are quality products andinvest in it inspite of the price. 45 percent Indians think that only fashion conscious people consider buying designer brands.
The Path Ahead for Designer Brands:
Designer brand appeal has certainly spread across sectors. According to the Nielsen survey, consumers in India 'approved' the potential of a crossover product between a designer fashion brand and a new technology gadget – 56 percent Indians surveyed would buy a mobile phone that was co-branded with a luxury brand – an area already tapped into by fashion giant like Prada. 40 percent said they would buy a co-branded designer laptop computer, 32 percent a “designer” flat screen TV, 26 percent would go for a designer branded MP3 and 24 percent would buy a designer kitchen appliance.
“There seems to be a huge market potential for luxury brand line extensions into every corner of the home and office and cross-over between brands and products is certainly an opportunity to drive the demand for these products,” added Pant.
The Survey:
The latest survey, conducted in November 2007, polled about 26,312 internet users in 48 markets from Europe, Asia Pacific, North America and the Middle East. 500 interviews were conducted in India.
The Nielsen Online Consumer Confidence and Opinion Survey is the largest half-yearly survey of its kind, aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe.
The Nielsen Company
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