In 2024, luxury goods in India is set to continue its momentum from the previous year, with projected double-digit retail current value growth, following an even more robust increase in 2023. The expansion of the aspirational middle-class is a crucial factor contributing to the growth of luxury goods in India.
India is known as one of the fastest-growing economies in the world, and this rapid growth creates a positive environment for luxury goods to thrive. Within luxury goods, premium and luxury cars leads.
The competitive landscape in luxury goods in India is marked by strategic initiatives that allow brands to maintain their positions. As premium and luxury cars is the leading category in terms of value sales, this significantly influences the competitive landscape.
The retail landscape for luxury goods in India is undergoing a significant transformation, with brands increasingly expanding their offline presence to complement their online strategies. An omnichannel approach has become essential for reaching consumers in this diverse and dynamic market.
Luxury goods in India is poised for substantial growth, with the retail current value CAGR in the forecast period anticipated to be just in the double digits from 2024 to 2029. This optimistic outlook is underpinned by favourable macroeconomic conditions, including rising GDP per capita, and an anticipated strong increase in disposable income.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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