Indian consumers who avidly shop for luxury goods when travelling abroad turn into guilt-ridden window shoppers back home when they look at the poverty here, fashion experts said at a luxury summit held in the national capital.
“There is a great degree of guilt in the minds of Indian consumer if he or she spends a lot of money on a luxury product because of the depressing conditions around like acute poverty,” said Charu Sachdev, chief executive of TSG International, a company that markets and distributes high-end luxury brands like Moschino and Jean Paul Gaultier in India.
“They feel as if it is wrong to spend so much. This tendency of the Indian consumer is one reason why luxury brands have not really taken off in the Indian market,” added Sachdev.
He further went on saying: “The same consumer when go for shopping on the high-streets of London or Dubai doesn’t even ask for a discount.”
“The typical mindset of the Indian consumer, coupled with high rental prices, import duties and low margins have dampened the plans of a number of luxury brand owners in India,” concluded Sachdev.