Nineteenth International Conference on Environmental, Cultural, Economic & Social Sustainability

Abstract

Consumption mirrors society and reflects the collective identity of a community. It is shaped by and, in turn, shapes the technological and ecological make-up. Indian consumers are armed with high internet connectivity, disrupting the established beliefs and the increased disposable income leading to binge consumption. Experimentation and Instant gratification mark the current consumer who is breaking free from the culturally-rooted identity to a context-free identity. Religiously bound, collectivist, spiritually-rooted, given identity is making way for an uber-nationalistic modern self who is individualistic, unapologetically hedonistic and willing to experiment and define the self. Luxury consumption is a new fad, accelerated in the last two years due to the COVID-19 pandemic creating a sense of uncertainty, urgency and fear of a foreboding crisis. Data was gathered through a mixed method - qualitative (45 interviews) and quantitative (800 surveys) from 6 cities. Results reflect a shift in luxury consumers’ mindset from ‘owning’ to ‘exhibition’, functionality to elegance with a clear focus on customization. At the same time, the young Indian consumer is conscious of the brands’ approach and activity towards larger global issues like climate change, sustainability and social impact. While large international brands in the apparel and accessories category draw a bulk of consumption, the Indian consumer is equally bent and willing to spend on traditional handicrafts because these crafts are truly exclusive and are made by ‘real people’. The consumer is demanding quality, questioning the values of the brands and is willing to pay extra for style and sensibility.