Sustainability in luxury marketing

Abstract

Luxury consumers are a niche segment in emerging markets like India and the meaning of luxury is different for different consumers. The most commonly perceived meaning of luxury goods is highly priced, non-affordable, high-quality products which are rare. There is a shift in the mindset of consumers towards sustainability as people are getting more concerned about environmental issues. But when it comes to purchasing luxury products majority of the customers don’t factor in ‘eco-friendly’ as an attribute. Therefore, brands should stay true to their original value proposition but also incorporate sustainability wherever relevant. Because being non-sustainable will only still upset customers.