Facebook 'likes' govern luxury purchases of youth: Study
With India set to register the highest year-on-year growth rate among the luxury goods markets at 25.2% in three to four years, luxury brands need to weave their brand stories around young customers' aspirations. The insight comes from a study undertaken by Mica'sprofessor Dr Varsha Jain and Prof Don Schultz ofNorthwestern University, USA.
"We focused on the luxury accessories and apparel market, which saw a phenomenal growth in 2011; a rise of 30%," says Jain. "Some estimates indicate young Indian consumers spend 60% of their available funds on luxury clothing."
The study suggests that the Indian youth buy luxury products for self-expression, status, quality, aesthetics and exclusivity.
You Want To Read More.Then Follow The Website
http://timesofindia.indiatimes.com/city/ahmedabad/Facebook-likes-govern-luxury-purchases-of-youth-Study/articleshow/26118440.cms
With India set to register the highest year-on-year growth rate among the luxury goods markets at 25.2% in three to four years, luxury brands need to weave their brand stories around young customers' aspirations. The insight comes from a study undertaken by Mica'sprofessor Dr Varsha Jain and Prof Don Schultz ofNorthwestern University, USA.
"We focused on the luxury accessories and apparel market, which saw a phenomenal growth in 2011; a rise of 30%," says Jain. "Some estimates indicate young Indian consumers spend 60% of their available funds on luxury clothing."
The study suggests that the Indian youth buy luxury products for self-expression, status, quality, aesthetics and exclusivity.
You Want To Read More.Then Follow The Website
http://timesofindia.indiatimes.com/city/ahmedabad/Facebook-likes-govern-luxury-purchases-of-youth-Study/articleshow/26118440.cms
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