Closet customers: New target segment for luxury products

Amidst the fast developing HNIs, rises a new segment of consumers staking its claims on luxe products & services. Closet Consumers, this is how they are defined. They does not typically fit into the traditional definition of luxury consumers, but these come in the market on their own terms as they are caught between rising incomes and traditional middle – class distaste for unabashed luxury. This inner conflict between middle class mindset and the globally rich income level, between conspicuous consumption & a level of luxury which is a reward for hard work, shapes the closet consumer. These are consumers who may well have the capacity to spend in terms of income levels, but due an inherent conflict between their values and those that luxury brands are espousing, their consumption of luxury is restricted to much lower level. But the biggest edge which luxury real estate has over other luxe products & services’ industries is the preference of investing in real estate embedded in the genes of every citizen of India. This buying behaviour will go a long way in helping the luxury housing and the maximum benefits will be reaped by real estate from this new segment of consumers. The real estate in Bangalore has unfolded a slew of opportunities for the prospective customers with homes which are more than what luxury defines!

Artha, South India’s fastest growing real estate company has various luxury projects like Artha Zen, Reviera which will give you a place where Dreams come Home. For more information, log onto www.arthaproperty.com