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CHANGING CONSUMER TRENDS IN INDIA
The last twenty years has seen a metamorphosis in terms of lifestyle
preferences and buy...
For example, until a few years ago, linen lacked popularity in India. It was
perceived as difficult to care for and wear a...
What remains clear is while there is changing behavior amongst Indian
consumers; quality and value continue to be at the h...
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Changing consumer trends in india

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Changing consumer trends in india

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Changing consumer trends in india

  1. 1. CHANGING CONSUMER TRENDS IN INDIA The last twenty years has seen a metamorphosis in terms of lifestyle preferences and buying trends among Indian consumers. With the opening up of the Indian economy in 1991, urban India embraced consumerism and a hunger for branded products emerged. A young working population, that lives by the "work hard and live well" mantra, has powered the Indian retail market through the first decade of the millennium resulting in strong year on year growth over the last few years. The change in consumer preferences is most apparent in fashion apparel. Men were the first early adapters of western-wear in India, with many converting to readymade garments in the early 90's. Over the last decade, we have also seen a significant change in the way women dress, moving from traditional Indian wear to western or fusion wear a trend that is especially popular in larger cities such as Delhi, Mumbai and Bangalore. The growing awareness of global fashion trends has been fuelled by the internet and the fashion and lifestyle media. As a result, the typical upper middle class consumer is conscious not only of the international styles but also about the lifestyle attributes connected to the brand, leading to the significant growth of organized retail in India. From a business perspective, the dynamics of the Indian market offers us an exciting opportunity to introduce collections that capture the latest global fashion trends, whilst also ensuring they are suitable for Indian tastes.
  2. 2. For example, until a few years ago, linen lacked popularity in India. It was perceived as difficult to care for and wear as it easily creased. However, the acceptance of linen as a comfortable fabric, perfect for our warm climate, has increased due to the development of performance enhancing fibres that make it more crease resistant and therefore easier and smarter to wear. Recognising the new popularity of linen amongst our customers, we have been able to stretch the seasons through local sourcing and now offer linen products all year round in both formal and casualwear. Most popular in West and South, linen now accounts for 15% of our total sales in India. The popularity of international style and dressing has also seen significant growth in the lingerie market in India worth Rs 17,470 crores in 2012 the market is expected to grow by a staggering 54% by 2017. In the last six months, weve seen our lingerie sales increase by a third as customers continue to look for more choice, whether everyday underwear, clever lingerie solutions such as innovative shapewear or glamorous silk and lace pieces. This growing demand is exactly why India was our first choice international market to launch our brand new Marks & Spencer Lingerie & Beauty department at our flagship store in Bandra, Mumbai. The massive influence of Bollywood on fashion continues to be another driver towards international styles. With almost every second movie now being filmed abroad, it is common for stars to wear international brands on screen and off it which influences consumers across the country. Stylish tunics, jeggings and dresses, commonly worn by the stars, are some of our best selling products. Last month we were delighted to be joined by Bipasha Basu and Sonakshi Sinha to celebrate the opening of our largest store in India. The dresses they wore have been a instant hits with our customers.
  3. 3. What remains clear is while there is changing behavior amongst Indian consumers; quality and value continue to be at the heart of their purchasing decisions. The consumer is increasingly savvy, shopping around to ensure that they derive the best value from their purchases. This means that retailers have to carefully choose their catalogue and prices. To cater for this, we offer our customers a variety of price points including outstanding value basics such as M&S Collection t-shirts with STAYNEW finish which keeps the fabric looking newer for longer and our exclusive Savile Row Inspired collection which offers customers the very best of British tailoring at affordable prices. With rising incomes among the Indian middle class and continued popularity of international fashions; we believe the demand for western-wear will continue to increase across the country. There is a real opportunity for us, not only in established cities like Delhi but smaller cities such as Kochi and Surat, where we are already seeing customers embrace our clothing collections and we expect will fuel the next wave in modern retail.

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