{"id":208009,"date":"2017-01-26T13:01:40","date_gmt":"2017-01-26T13:01:40","guid":{"rendered":"http:\/\/13.233.130.183\/?p=208009"},"modified":"2017-01-26T13:01:40","modified_gmt":"2017-01-26T13:01:40","slug":"top-10-misconceptions-about-indian-luxury-consumers-2","status":"publish","type":"post","link":"https:\/\/abhaygupta.in\/writing\/top-10-misconceptions-about-indian-luxury-consumers-2\/","title":{"rendered":"Top 10 misconceptions about Indian Luxury Consumers"},"content":{"rendered":"

2016 comes to an eventful end with various upheavals across the globe. Ranging from terror attacks in Europe; the Brexit fiasco in Great Britain; the unexpected victory of Donald Trump in the USA and to the last but not the least, the demonetization drive by Prime Minister Modi in India.<\/span><\/p>\n

All these factors have had adverse and or positive impacts on the luxury domain. Global luxury industry valued at a whopping 1 trillion Euro in 2015 (Bain & Co) registered a mere 5% growth over 2014.<\/span><\/p>\n

The global luxury market has reached an era of single-digit growth.<\/b><\/h3>\n

However, as the rest of the world stabilizes, the Indian growth story is hard to discount. For most luxury brands, India has become the \u2018hottest marketplace\u2019. Growing at approximately 25% CAGR, it is estimated to have reached $18.3 billion from $14.75 billion in 2015.<\/span><\/p>\n

The single biggest factor contributing to this growth is the steep rise of the affluent class due to the stellar performance of the economy and the \u2018start-up\u2019 culture. Estimates reveal that the number of HNI households have grown at a CAGR of 16% from 81,000 in 2011-12 to 146,600 in 2015-16. This is further expected to increase to 294,000 representing a total net with of Indian Rs 319 trillion!<\/span><\/p>\n

While there is a tremendous buoyancy around the affluent Indian & his luxury consumption, there are clearly a few misconceptions in the minds of the marketers.<\/span><\/p>\n

This article was originally published on Mr Abhay Gupta\u2019s <\/span>LinkedIn Profile<\/span><\/a> on 26th Jan 2017. To read the article in detail, please click here: <\/span>Article Link<\/span><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

2016 comes to an eventful end with various upheavals across the globe. Ranging from terror attacks in Europe; the Brexit fiasco in Great Britain; the unexpected victory of Donald Trump in the USA and to the last but not the least, the demonetization drive ….<\/p>\n","protected":false},"author":1,"featured_media":211854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[103],"tags":[],"class_list":["post-208009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-luxury-consumer-culture"],"yoast_head":"\nTop 10 misconceptions about Indian Luxury Consumers - Abhay Gupta Writing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abhaygupta.in\/writing\/top-10-misconceptions-about-indian-luxury-consumers-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 10 misconceptions about Indian Luxury Consumers - Abhay Gupta Writing\" \/>\n<meta property=\"og:description\" content=\"2016 comes to an eventful end with various upheavals across the globe. 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