Younger generation leads in luxury shopping

The luxury shopping landscape in India is witnessing a youthful shift, as more Indians in their twenties and thirties spoil themselves with premium brands, a sharp departure from the trend seen a decade ago.

- Suneera Tandon & Varun Khosla

High-end shopping, which was previously dominated by wealthy consumers in their 40s and 50s, is now drawing young, urban consumers who prefer splurging on categories such as premium beauty products, apparel, bags, and watches.

Several retailers Mint spoke to said young shoppers are now saving less and spending more. "There's a demographic shift that we are seeing as a country. As a result, the average age of people buying luxury products like handbags or watches is significantly going down in India," said Rajeev Singh, partner and consumer industry leader, Deloitte Asia Pacific.

"Earlier the average age of such consumers used to be typically mid-40s or early 50s, now that's going down. In fact, we are surprised to see that people in their mid-20s also want to spend on a luxury brand," he added.