Essay On Luxury Market

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A study on Luxury markets and the Premium Pricing said that prices are rising of luxury products rather than falling down. The income of people has also been rising and their living standards are increasing daily. At the same time people are showing interest in trying new things. Now a day’s people are more educated, knowledgeable in contrast to the preceding generation. The aspirations and wants of the consumers increase with a rise in the income. There has also been a boost in the increase of the middle class who are now looking forward for experiencing luxury (Ian Yeoman and Una McMahon-Beattie, 2005). Despite that, in the recent years there has been a lot of variation in the luxury industry to attract different segments of consumers. It is also said that it is important…show more content…
It also focuses light on the cultural mindset o f the observer in terms of luxury (Dr. Rajesh Kesari and Abhishek Kumar Srivastatava, 2012). Also, it has been said that due to ambition of the domestic and international brands, they have been expanding and entering the Indian luxury markets. This study is done to see the gender difference in attitude towards the consumption of luxury products by the Indian youth. The purchasing power of the Indian youth has increased tremendously. There have been higher educational qualifications, rise in disposable income, upscale young population. They say that if the price of the product rise then the demand for that particular product also rise and makes it more valuable and prestigious. The luxury consumers in India are more conscious about values and focuses on the latest styles and trends. In order to be a successful brand in the market, Brand Positioning plays an integral part (Dr. Samik Shome and Ms. Aindrila Roy, 2013). Consequently, it is stated that richer Indians are more inclined and attracted to luxury goods and services. Luxury brands are expanding and entering India to make
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