To what extent are economic and cultural factors contributing to the growth of the luxury market in India and how are international brands leveraging this?

To what extent are economic and cultural factors contributing to the growth of the luxury market in India and how are international brands leveraging this?

Registration ID: IJNRD_223075

Published ID: IJNRD2406152

DOI: Click Here to Get

Pranavi Gupta

Luxury has existed as a concept for a very long time. The roots of the luxury market can be found in the West and this is majorly explained by the influence that industrialization, urbanization and colonization had on the wealth of the population in that part of the world. That being said, as per economic principles, as a country develops, one may expect that the disposable income of individuals would also increase and as a result, so would their willingness and ability to purchase luxury. Aside from the economic influence, even cultural factors can have a great influence on the willingness to purchase luxury goods in a market. Taking the aforementioned into consideration, this research paper analyses the growth of the luxury market in India, a developing country, and then conducts a thorough case study to understand how international luxury brands are leveraging this. The paper also evaluates the socio-economic impacts of the growth of the luxury market in India.

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"To what extent are economic and cultural factors contributing to the growth of the luxury market in India and how are international brands leveraging this?", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.9, Issue 6, page no.b500-b510, June-2024, Available :https://ijnrd.org/papers/IJNRD2406152.pdf

Volume 9 Issue 6, June-2024

Pages : b500-b510

Paper Reg. ID: IJNRD_223075

Published Paper Id: IJNRD2406152

Downloads: 000121294

Research Area: Commerce

Country: New Delhi , Delhi, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2406152.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2406152

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

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