The luxury shopping landscape in India is witnessing a youthful shift as more Indians in their 20s and 30s are indulging in premium brands, a departure from the trend seen a decade ago.
High-end shopping, which was previously dominated by wealthy consumers in their 40s and 50s, is now drawing young, urban consumers who prefer splurging on categories such as premium beauty products, apparel, bags, and watches.
Several retailers Mint spoke to said young shoppers are now saving less and spending more. “There’s a demographic shift that we are seeing as a country. As a result, the average age of people buying luxury products like handbags or watches is significantly going down in India. Earlier the average age of such consumers used to be typically mid-40s or early 50s, now that's going down. In fact, we are surprised to see that people in their mid-20s also want to spend on a luxury brand," said Rajeev Singh, partner and consumer industry leader, Deloitte Asia Pacific.
Denne historien er fra December 22, 2023-utgaven av Mint Mumbai.
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Denne historien er fra December 22, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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