Luxury Buying Behaviour and the Role of Culture: An Indian Context
India’s tradition of luxury goes back in time when the maharajas were connoisseurs of luxury. They always satiated themselves with beautiful and handcrafted products. After independence in 1947, the country having taken the socialist route, the industrialist families still continued to engage with luxury products. Post the economic reforms in 1991, the Indian consumer has seen a significant increase in income across levels. And over the next decade, India is likely to experience the largest growth in total millionaire wealth. So today, it is no surprise that in the luxury market place, amongst Asian countries, India is being considered as a “promising territory for the future and a long-term player”.
KeywordsPower Distance Uncertainty Avoidance Indian Context Indian Culture Luxury Consumption
Unable to display preview. Download preview PDF.
- 1.Ablett, J./Baijal, A./Beinhocker, E./Bose,A,/Farrell, D./Gersch, U./Greenberg,E./Gupta, S./Gupta, S. (2007): The “Bird of Gold ”: The Rise of India’s Consumer Market. Executive summary. Business, May 2007.Google Scholar
- 2.Askegaard, S./Kjeldgaard, D. (2002): The water fish swim in? Relations between culture and marketing in the age of globalization’’, in: Knudsen, T., Askegaard, S. and Jorgensen, A.N. (Eds), Perspectives on Marketing Relationship, Thompson, Copenhagen, pp. 13-35.Google Scholar
- 4.Chadha, R./Husband, P. (2007): The cult of the luxury brand. Inside Asia’s love affair with luxury. London: Nicholas Brealey International.Google Scholar
- 5.Chaudhuri, H. R. (2006): Of Diamonds and Desires: Understanding Conspicuous Consumption from a Contemporary Marketing Perspective, Academy of Marketing Science Review.Google Scholar
- 8.Hofstede, G. (1980): Culture’s consequences: International differences in work-related values. Newbury Park, CA: Sage.Google Scholar
- 14.India Luxury Review 2011- A CII-AT Kearney ReportGoogle Scholar
- 15.Jaffer, A. (2006): Made for Maharajas: A Design Diary of Princely IndiaGoogle Scholar
- 16.Kurien, C.T. (1995): Aspects of India’s Economy. New Delhi: Orient LongmanGoogle Scholar
- 18.Mankekar, P. (1999): Screening Culture, Viewing Politics. An ethnography of television, womanhood, and nation in postcolonial India. London. Duke University Press.Google Scholar
- 19.Ramesh Kumar ,S. (2009): Consumer Behaviour and Branding : Concepts, Readings and Cases.Google Scholar
- 21.Vadukut, S. (2011): National Treasure, Mint Indulge, Mint, p.5Google Scholar
- 22.Wiedmann, K. P./Hennigs, N./Siebels, A. (2007): Measuring consumers’ luxury value perception: a cross-cultural framework, in: Academy of Marketing Science Review, Vol. 11, No. 7, pp. 1-21.Google Scholar