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Abstract: Generation Z known as the Digital natives operates in a diverse manner set of consumers as they have a distinctive taste, choice, opinion, preference, attitude and behavior which make it crucial to understand how they play, learn and interact with their friends, peers, family, and brands. Generation Z is highly fashion conscious demands for high-end luxury goods, especially Luxury apparels. The present study aims to understand the purchase behavior, drivers and the process of buying luxury apparels of Generation Z. The study suggests that marketers need to be creative and interactive not only in their stores and advertisements but also on the digital platform and market in a subtle manner.
Keywords: Generation Z, Purchase Behaviour, Luxury Apparels, India
1. Introduction
Generation Z or the Digital natives are born in the Digital world with complete technology of PCs, Mobile, Gaming Devices and Internet (Westlund, 2010). They prefer to stay indoors and play online rather than go out and play outdoors. They have virtual friends and hang out with friends virtually over the mobile phones, social networking sites and messages. Generation Z is collaborative, creative, multitaskers and thrives for instant gratification. Indian Generation Z is highly fashion conscious and demands for high-end luxury products. This is the result of the growing consumer market and increasing disposable income of the upper middle class and the elite class.
The Indian consumer market is growing as high net-worth households are increasing. A wealth management study projects India to have 219,000 ultra wealthy households by 2015 (Crisil and Kotak Wealth Management, 20xx), with the net worth of this elite class estimated to increase by more than five times in 2015-16 ($45 to $235 trillion). The elite class of Indians including Generation Z travel abroad extensively and hence they are exposed to the latest fashion and the luxury brands available in the international market (Jain & Patel, 2013). Therefore, the consumers have acquired the taste for international aesthetics, latest fittings, and mesmerizing designs (Mohanram, 2012). International luxury brands have entered Indian markets to seize the opportunities of this emerging market. This provides opportunities for luxury apparel brands to target this lucrative segment (A CIIA.T. Kearney report, 2011).
The Indian households that can afford luxury brands emphasize on products rather...