LUXURY RETAIL IN INDIA

Presented by

• AASHIMA DUA (2012005)

• ABHISHEK DUA (2012011)

• ADIL MASOOD (2012017)

• AMEY MAIRAL (2012035)

LUXURY

Related to -

• Status,

• Ego and

• Psychogenic needs; (mental needs)

it is not necessary for survival

Luxury Goods

Associated with-

high quality,

craftsmanship,

uniqueness,

creativity,

exclusivity and

innovation

What Consumer Get

Psychological Benefits

esteem,

prestige

sense of a high status

that reminds them and others that they belong toan exclusive group who can afford theseexpensive goods.

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.

Global vs Indian Luxury Retail

0

5

10

15

20

25

30

35

40

45

50

Apparels Art Jwellery & Watches

Personal Care

Global

India

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

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.

LUXURY

Limitations of luxury in India

Lack of appropriate space

Expensive real estate

Lack of trained manpower

Lack of Indian products & brands

FDI restrictions

Challenges to overcome

• Limited scope

• Lack of retail space

• Lack of High Fashion Street

• Providing services

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

PATH FOR LUXURY MARKETERS

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

LUXURY

Thank You

OH FCUK, ANY QUESTIONS???