Consumer segmentation of the affordable luxury apparel market in India
Sheena Gupta and Dr. Sougata Banerjee
Affordable luxury is developing at a rapid pace in a developing country like India. Growing number of HNIs and urban middle-class, which has a penchant for luxury brands, are some of the reasons for the growth of affordable luxury brands. Different consumers purchase these brands to satisfy different needs. Some do it for self-actualisation, some purchase luxury brands for their hedonic value and some for their conspicuous value. This paper discusses how the Indian consumer can be segmented into different groups according to some defining parameters. 300 respondents were interviewed across the Indian cities of Delhi, Mumbai, Bangalore, and Kolkata. Cluster analysis was done to segment the consumer groups and define them further.