Luxury Retail in India

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Short presentation on Luxury retail in India. Some facts and figures are given. What is the scope of luxury retail in india and challenges and limitation of luxury retailers of india. Path and strategies for luxury marketer can also be looked into.
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Luxury Retail in India

  1. 1. LUXURY RETAIL IN INDIA
  2. 2. Presented by • AASHIMA DUA (2012005) • ABHISHEK DUA (2012011) • ADIL MASOOD (2012017) • AMEY MAIRAL (2012035)
  3. 3. LUXURY Related to • Status, • Ego and • Psychogenic needs; (mental needs) it is not necessary for survival
  4. 4. Luxury Goods Associated withhigh quality, craftsmanship, uniqueness, creativity, exclusivity and innovation
  5. 5. What Consumer Get Psychological Benefits    esteem, prestige sense of a high status that reminds them and others that they belong to an exclusive group who can afford these expensive goods.
  6. 6. INDIAN LUXURY MARKET • Second fastest growing market in Asia Pacific • To cross $10bn by 2014. Currently valued, $7.6bn • Huge number of young population, thus has huge scope of expansion. • Estimated to be second largest luxury market by 2050.
  7. 7. Global vs Indian Luxury Retail 50 45 40 35 30 25 Global India 20 15 10 5 0 Apparels Art Jwellery & Watches Personal Care
  8. 8. Reasons for emergence of luxury retail in India. • Hike in the salary . • High Standard of living . • Luxury becoming a status symbol. • Stylish Appearance • Increased Durability • Better performance & advanced features Luxury in India has become more accessible. Bollywood is an influencer
  9. 9. Perception in Major Cities • MUMBAI – Hedonic & symbolic expressions preferred. – Social media is the benchmark. – Purchase considered failure if there are not enough likes. • DELHI – Celebrities influence substantially. – Want to flaunt their purchase and make a buzz among peers.
  10. 10. LUXURY Limitations of luxury in India Lack of appropriate space Expensive real estate Lack of trained manpower Lack of Indian products & brands FDI restrictions
  11. 11. Challenges to overcome • Limited scope • Lack of retail space • Lack of High Fashion Street • Providing services
  12. 12. Strategies for luxury marketing • The brand must be “expansive” • The brand must tell a story • The brand must be relevant to the consumers’ needs • The brand must align with consumers’ values • The brand must perform
  13. 13. PATH FOR LUXURY MARKETERS
  14. 14. 1. Brand Me Affluent! 2. Nothing but the Best!- Because I’m the best 3. Luxury is having the world at my fingertips 4. “Ethinic chic”- The fusion of local and global goods 5. You think I am demanding? 6. Cannibalization of brands
  15. 15. LUXURY Thank You
  16. 16. OH FCUK, ANY QUESTIONS???

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