Categorizing the Indian consumer according to their purchase intention towards affordable luxury apparel

Abstract

A rising nation like India is seeing a significant rise in the availability of affordable luxury. The rise of affordable luxury brands may be attributed to a number of factors, including an increase in HNIs and an urban middle class with a preference for premium goods. Retailers and brand owners are finding the marketing landscape to be both demanding and intriguing. This study aimed to categorise the segment into customers with high and low purchase intentions using a discriminant equation based on certain recognised factors. The study attempted to predict the target segment's purchasing intentions during a time when brand awareness and brand knowledge are at their highest levels. Through this method, businesses may evaluate the market for their brand, which will in turn help the marketer to reduce the market risk.