B-School Events

April 05, 2018

April 05, 2018 @ 06:03 PM

BIMTECH

MICA team publishes paper in Metamorphosis - A Journal of Management Research

Dr. Prof. Varsha Jain, Assistant professor, MICA, Ms. Sonal Pingle (Student, PGP batch 2009-11, MICA) and Ms. Aarzoo Daswani (Former Research Associate, MICA) have published a paper titled, Understanding Indians Purchase Behaviour Process: Luxury Apparel Sector” in Metamorphosis – A Journal of Management Research. 

The paper aims to understand the buying behaviour of Indian consumers primarily in the luxury apparel segment. The interviews were conducted with the consumers and store managers in the city of Mumbai. The study provides key insights into the minds of the consumers and will be valuable to any marketer looking to tap that segment.
 
The research found that the key drivers to buy luxury apparels are quality, exclusivity, fit, comfort, elegance, sophistication and influential. Apart from this, the study points out key consumer behaviour pattern and the rationale behind it such as, many consumers shop alone as they feel more independent. It touches upon topics like price sensitivity between genders and consumer preferences in terms of looks and style.
 
The study suggests that Indian consumers have shifted from collectivist luxury consumption to individualistic approach which is the second level of consuming luxury. Consumers have developed an attitude of “I am worth it” and like to indulge in luxury for themselves. They like to pamper themselves, experiment with new styles and want to satisfy their hedonic desires. It concludes by saying that service is an important factor in this segment and in store services can be enhanced by providing customized hospitability to the consumers.
 
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