Indian women go for luxury brands due to social circle, says survey
My Luxury Bargain, a portal for buying and selling of pre-owned luxury, conducted a survey to understand the mindset of both "old school" and "new school" female luxury shoppers.
The sample size was 300 Indian women within an age group 18 to 45. The classification was divided into two: users from 18 to 32 years were considered "new school" and those aged 33 to 45 years were considered "old school", according to a statement.
According to the survey, as many as 63 per cent of old school shoppers buy luxury products because of their social circle, compared to 37 per cent of new school shoppers who buy luxury products because of the feel good factor.
It also showed that 52 per cent of old school shoppers said they will stick to heritage luxury brands such as Louis Vuitton, Chanel, Gucci and, while 48 per cent of the new school said they are likely to try brands like Saint Laurent, Miu Miu, Givenchy and Balenciaga.
According to 57 per cent of old school shoppers, the price of the bag has to be justified by the size of the bag and the brand name, whereas 43 per cent of new school shoppers buy what they like without any justification.
As many as 68 per cent of old school shoppers preferred to shop abroad and 32 per cent of new school shoppers went through reputable foreign and domestic websites.
When it comes to accessories by high-end brands, 28 per cent of old school shoppers said that they will not buy luxury designer accessories, but 72 per cent of new school shoppers were willing to buy them and use them in an innovative way.
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