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The moderate growth in US and European markets coupled with an increasing demand for luxury goods... more The moderate growth in US and European markets coupled with an increasing demand for luxury goods in emerging economies such as Brazil, Russia, India, and China lead to a substantial growth in the global market for luxury goods. Reaching consumers all over the world across national and cultural borders, the luxury sector is according to Bain & Company expected to grow by 10 percent in 2013.
International luxury businesses are challenged by the identification and satisfaction of the comm... more International luxury businesses are challenged by the identification and satisfaction of the common needs and desires of global market segments. Although luxury goods have become available to a wider range of consumers, the traditional conspicuous consumption model has been transformed into a new experiential luxury sensibility that is marked by a change in the way that consumers define luxury. Based on an empirical study in collaboration with American, European, and Asian researchers, the results provide evidence that consumers in various parts of the world purchase or wish to purchase luxury products for varied reasons but that such consumers generally possess similar values. Regardless of their countries of origin, the basic motivational drivers of luxury consumers are similar among the financial, functional, personal, and social dimensions of luxury value perceptions, although the relative importance of these dimensions varies.
India’s tradition of luxury goes back in time when the maharajas were connoisseurs of luxury. The... more India’s tradition of luxury goes back in time when the maharajas were connoisseurs of luxury. They always satiated themselves with beautiful and handcrafted products. After independence in 1947, the country having taken the socialist route, the industrialist families still continued to engage with luxury products. Post the economic reforms in 1991, the Indian consumer has seen a significant increase in income across levels. And over the next decade, India is likely to experience the largest growth in total millionaire wealth. So today, it is no surprise that in the luxury market place, amongst Asian countries, India is being considered as a “promising territory for the future and a long-term player”.
AIMS International, Jan 1, 2007
Corporate Social Responsibility, Jan 1, 2007
The moderate growth in US and European markets coupled with an increasing demand for luxury goods... more The moderate growth in US and European markets coupled with an increasing demand for luxury goods in emerging economies such as Brazil, Russia, India, and China lead to a substantial growth in the global market for luxury goods. Reaching consumers all over the world across national and cultural borders, the luxury sector is according to Bain & Company expected to grow by 10 percent in 2013.
International luxury businesses are challenged by the identification and satisfaction of the comm... more International luxury businesses are challenged by the identification and satisfaction of the common needs and desires of global market segments. Although luxury goods have become available to a wider range of consumers, the traditional conspicuous consumption model has been transformed into a new experiential luxury sensibility that is marked by a change in the way that consumers define luxury. Based on an empirical study in collaboration with American, European, and Asian researchers, the results provide evidence that consumers in various parts of the world purchase or wish to purchase luxury products for varied reasons but that such consumers generally possess similar values. Regardless of their countries of origin, the basic motivational drivers of luxury consumers are similar among the financial, functional, personal, and social dimensions of luxury value perceptions, although the relative importance of these dimensions varies.
India’s tradition of luxury goes back in time when the maharajas were connoisseurs of luxury. The... more India’s tradition of luxury goes back in time when the maharajas were connoisseurs of luxury. They always satiated themselves with beautiful and handcrafted products. After independence in 1947, the country having taken the socialist route, the industrialist families still continued to engage with luxury products. Post the economic reforms in 1991, the Indian consumer has seen a significant increase in income across levels. And over the next decade, India is likely to experience the largest growth in total millionaire wealth. So today, it is no surprise that in the luxury market place, amongst Asian countries, India is being considered as a “promising territory for the future and a long-term player”.
AIMS International, Jan 1, 2007
Corporate Social Responsibility, Jan 1, 2007