Paurav Shukla – a globally renowned expert in the field of Marketing, Branding and Luxury …
Luxury goods are not just about quality and craftsmanship. They are also about status, identity and social influence. But what motivates luxury consumers to buy expensive products in large emerging markets such as China and India? And how do these motivations vary across different urban and semi-urban segments of consumers within the same market? These [Read Story]
Luxury brands market their products in many large emerging markets like India and China thinking consumers are the same within these countries. Our latest research shows that significant differences exist within higher - and lower - tier cities in their consumption motivations. We provide guidance on successfully negotiating these complexities.
In the part 1, I discussed how many luxury brands are failing across Asia as they treat Asian consumers as a homogeneous group and how it led my co-authors and I to examine this phenomenon in-depth. Using the value perceptions framework and theory of impression management, we discovered some very interesting differences [Read Story]
While luxury in Asia is booming with the rise of new money and an affluent consumption class the picture is not rosy for all the luxury brands emerging within or outside of Asia. Some stellar examples of struggle involve Prada and Mulberry in China, Aigner and de Grisogono in India and Ermenegildo [Read Story]
“The US is luxury’s largest market. Japan still remains a large luxury market in terms of absolute size. However, China is the true star of the region” – Claudia D’Arpizio (Bain & Co. Analyst) China: the luxury market for present and future While the high-end luxury goods market is stagnant or decelerating for many [Read Story]
[podcast]http://www.pauravshukla.com/podcast/luxurychina.mp3[/podcast] Analysts world over have been writing about luxury consumption among the Chinese consumers. Few have also discussed the issues of Chinese luxury brands aimed at global consumers including ‘Shanghai Tang’ and ‘LaVie’. However, there is little discussion on how slowly but steadily Chinese entrepreneurs are acquiring or taking over Western luxury brands. This post [Read Story]
