In 2023, India witnessed a shift in consumer demand, as sales of low-priced goods declined while luxury items surged, marking a notable trend. Companies adapted by targeting affluent consumers to offset reduced sales and declining margins, highlighting a clear split in consumer preferences towards premium products amid market challenges.
In 2023, India witnessed a shift in consumer demand, as sales of low-priced goods declined while luxury items surged, marking a notable trend. Companies adapted by targeting affluent consumers to offset reduced sales and declining margins, highlighting a clear split in consumer preferences towards premium products amid market challenges.
Aston Martin plans to expand its presence in India s luxury car market, targeting the growing number of rich individuals who are willing to spend on high-end brands. The company currently sells around 10-15 units in India each year and aims to introduce new models, including an electric vehicle, to attract more customers. India s luxury car market has been experiencing strong growth, with sales of ultra-luxury cars increasing by 50% in 2022. However, high taxes on super luxury cars remain a challenge, limiting sales in the country.