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Debnath, A. M., Khan, M. N., & Chakrabarti, S. (2016). An Exploratory Study on'Cultural Values' and'Brand Values' for Luxury Accessory Brands in the Indian Market. Amity Business Review, 17(2).

India has been home to one of the oldest civilizations in the world. It is a country of great heritage and cultural values. Cultural values are getting slowly mixed with the new cultural values from different cross cultures. Today we can very easily see the effect of cross cultural issues affecting the Indian lifestyle and culture. With globalization hitting the Indian market, today there are many International luxury accessories brands mainly hand bags entering Indian market. Luxury market in India is at a very nascent stage compared to South east Asian countries like Japan, China, Taiwan. As a country it's the land where great personalities like Buddha and Mahatma Gandhi started the non-violence and national movement (to support the consumption of products made in India only), which is slightly contradictory as per the present luxury consumption in India. The Indian consumer is also changing its taste and flavor and becoming more global in preferences. No doubt, culture today has sufficiently high ethnocentric value, where the consumer is ready not just to try foreign goods but also to get into excessive consumerism. The Young Indian consumers (between the ages of 18 to 35) are very experimental by nature. They are ready to explore and try new products and experiences. It's interesting to note that every luxury brand has its own set of values and a culture which the brand is trying to follow and believe along with the concept of new territories and market its entering. With the changing Indian believe system about luxury consumption and following the international trends as determine by the best of the luxury brands in the world map. It's a surprise to focus some facts like the year 2013 was marked by a slowing Indian economy and diminishing consumer confidence, but it seemed to have little or no impact on the growth of India's luxury market, with the country's wealthiest continuing to spend unabated on luxury goods through the year(KPMG,2014). The Indian luxury market grew at a healthy rate of 30 per cent in 2013 to reach USD8.5 billion in 2013. It is likely to continue. growing at a healthy pace to reach USD14 billion by 2016 (KPMG,2014).So, it's important to understand the link between Indian luxury consumer's present cultural values and luxury bags brand's values. The results of the study will help the luxury bags' brands to have anappropriate communication to tap the minds of its target market. And ultimately will help the luxury bag brand to gain more loyal customers. The present study's main focus is limited to three luxury bags brands, which are present in Indian market for better understanding of behavior.

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