Different Elements of Luxury

Recently a survey conducted by Expert Market Research revealed around 19.29% of consumers consider owning a high-end property as luxury. Companies operating in luxury are always innovating, expanding their offerings, and catering to diverse consumer preferences. This has led to vibrant and evolving dynamics of luxury consumption.

In this era, convenience has become important which has transformed luxury. Expert Market Research conducted a survey, encompassing over 40,000 respondents across the top 20 global cities in India. This survey helps in understanding what modern consumers consider to be luxury. Different aspects of luxury were considered covering everything from staying in luxury hotels to designer clothing.

High-end Property as a Luxury

In the top luxury preferences, owning a high-end property is considered a luxury by 19.50% of respondents, due to the prestige and exclusivity that come with prime real estate. 11.00% of the consumers view staying in luxury hotels and resorts as a luxury, because of the desire to experience premium hospitality. About 10.79% of respondents consider luxury watches and jewelry as luxury due to the timeless appeal of craftsmanship and design. Traveling abroad for vacations and collecting rare or limited-edition items are considered a luxury by 10.37% and 8.71% respectively. Because of the significant appeal of owning a car, especially high-end 6.64% of respondents find them luxury. The remaining 19.29% of consumers chose others including luxury beauty products, high-end electronics, spas, and fine dining.

High End Property as Luxury

Ownership of high-end properties and staying in elite hotels or resorts have become the new essence of modern luxury. People like to own high-end properties, with perfect locations and the best design, making it a nice comfortable living space. These places act as a status symbol and sound investments. Our report also delves into how luxury hotels and resorts can provide unmatched experiences through first-class service, exclusive access to amenities, and environments that cater to the most refined tastes for driving growth.

In the hospitality sector, many luxury hotel chains like Oberoi Hotels & Resorts and Taj Hotels set benchmarks for luxury experiences in India. They are known for their flawless service standards, architectural majesty, and commitment to offer modern comfort while preserving. In their recent initiatives, they have included wellness-focused amenities, sustainability efforts, and culinary innovations for enhancing guest experiences.

Advancements in Luxury Cars

There are also some advancements in the luxury automotive industry with the introduction of high-performance vehicles and electric car models. People consider owning cars from companies like BMW, Mercedes-Benz, and Audi as luxury. These companies have launched exclusive models customized to the preferences of Indian luxury car enthusiasts.

In conclusion, the survey revealed the evolving nature of luxury which is highly influenced by cultural, generational, and regional factors. Now, the meaning of luxury is different for everybody and is no longer confined to tangible items. It is based on personal well-being, experiences, and time. The survey also explores both challenges and opportunities for luxury brands.