Consumer Behaviour Attributes towards Luxury Products: A Review Study | Original Article
The overall luxury market is estimated at more than one Trillion and it grew by 5 in 2017 globally. In India it is at present US 23.8 Billion and expected to reach by US 30 by 2020 (Assocham Report). It is estimated the market size would increase by 5 fold and number of millionaires would increase by 3 times in India. The market is divided by classification in terms of products, gender (male, female), mode of sale, location, disposable income, Experiences, Services etc. The present study reveals the facts and dynamics of luxury brands in India vis a vis across globe. The study is descriptive in nature and is based on purely secondary data which has been gathered from various published sources. The study intent to get into the consumer behaviour aspects towards luxury brands and how the affordable luxury is gaining importance around.