High-end fashion trumps jewellery spending in 2018

In Bengaluru, share of spend at luxury retail increased from 53 per cent (2013) to 65 per cent (2018).

Published: 23rd March 2019 04:55 PM  |   Last Updated: 23rd March 2019 04:55 PM   |  A+A-

Gold jewellery

For representational purposes (File Photo | Reuters)


NEW DELHI: Affluent Indians' spending on high-end fashion and electronics has grown, and even surpassed jewellery spends, finds a report.

The American Express' report titled "Luxury Spend Analysis 2018" showed that high-end fashion contributed 42 per cent of total luxury spends in 2018.

While highest proportion of luxury spends on jewellery in Delhi grew from 13 per cent (2013) to 39 per cent (2018), in Mumbai, it fell from 27 per cent (2013) to 23 per cent (2018).

In Bengaluru, share of spend at luxury retail increased from 53 per cent (2013) to 65 per cent (2018) and in Mumbai, it gained share from 36 per cent to 44 per cent.

Electronics sales in Hyderabad have seen a rise, with spends-share growing from 16 per cent (2013) to 52 per cent (2018).

"India's luxury market continues to grow with consumer behaviour maturing in the last five years," Manoj Adlakha, CEO, American Express India, said in a statement on Monday.

"While jewellery spending dominated the category till 2013, we have seen other segments - including electronic and high-end fashion grow in share, and even surpass jewellery spends in certain markets," he added.

Further, the report found that Kolkata and Chennai have emerged as new centres of luxury consumption

Chennai witnessing a 65 per cent rise in luxury spend from 2017 to 2018, and luxury spending in Kolkata doubling from 2013 to 2018, than Delhi, Mumbai and Benguluru.

In cities such as Chandigarh, Ahmedabad, Jaipur and Udaipur, luxury retail spend share increased from 9 per cent to 59 per cent between 2013-2018.

"With nearly 70 per cent of luxury spending in India contributed at top 15 per cent of merchants, there is a huge opportunity for retailers and local high-end merchants to understand customer demand and preferences, and tap into their aspirations," Adlakha added.

The report gives an insight into the shifting trends of luxury spending in India, and the emerging pockets of affluence beyond the three metros.

It covers transactions and spend volumes at over 600 merchants finds jewellery, electronics, high-end fashion (apparel and accessories) and luxury retail to be the top categories of engagement for Indian affluents.

Stay up to date on all the latest Fashion news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp