28 December 2022, Mumbai
Indians are more fashion aware due to their country's expanding economy and rising purchasing power. India placed third on the list of the world's most brand-conscious nations, behind Greece and Hong Kong, according to a poll on luxury brands by The Nielsen Organization, a worldwide information, and media research company.
More than 35% of Indian respondents said they spend money on luxury brands. According to the survey, Gucci would be the most wanted brand for Indians if money weren't an issue, even though Calvin Klein was the most popular luxury brand, with over 34% of respondents having bought it at some time. Gucci, Diesel, Christian Dior, and DKNY are some of the other brands that Indian shoppers spend the most money on.
Market Structure in India of various brands
The nation is Gucci's third-largest market after China and Japan. Similarly, India ranks as the sixth-most significant market worldwide for Fendi, Diesel, and Calvin Klein. According to Vatsala Pant, associate director of client solutions at The Nielsen Company, consumers traveling abroad have generally helped raise awareness of designer labels.
The quantity of stores that these companies have recently established in the nation is evidenced enough of Indians' growing fashion sensibility. Over 40% of respondents said they also buy Indian designer brands, placing India among the top six markets for local brands. This demonstrates that the growing brand awareness among Indians is not limited to just foreign names.
Brand metrics in India
Indians are among the top eight nations who think designer goods are of higher quality than unbranded ones, the study showed, even though 73% of them still think designer labels are pricey.
About 26,312 internet users in 48 marketplaces across 48 countries in Europe, Asia Pacific, North America, and the Middle East were surveyed in November 2007. 500 Indians participated in the survey. The Nielsen Company Associate Director (Client Solutions) Vatsala Pant said in a statement: Foreign brands are synonymous with prestige.
Our poll indicates that 57% of Indians surveyed buy designer goods as a status signal. India is the leading country in the Asia Pacific for the Italian brand Gucci, with 41% of its population preferring to purchase its goods, followed by the Philippines (39%) and Indonesia (39%). According to the survey, the "most sought" brands for Indian customers are Gucci (41%), Calvin Klein (31%), Christian Dior (26%), Versace (25%), Diesel, and Giorgio Armani if money were no object.
