Consumers bereft of choice in accessible luxury price points
Varun Narayan, COO, Torero Corporation Pvt Ltd informs to Retailer Media how consumers are not being offered much choice in accessible price points comparable to the best luxury brands.BY Indian Retail Bureau | April 13, 2015 | comments ( 0 ) |
How your brand resonates with the needs of modern consumer?
Consumers in India have had the opportunity to purchase great luxury brands, and well priced mass and mass premium brands. Unfortunately, consumers have been bereft of choice in the accessible luxury price points. Cross leather accessories is keen to offer to the Indian consumers, measurable top quality of products comparable to the best luxury brands, at accessible price points, and thereby pioneer the accessible luxury price points. Cross's Spanish leather wallets would be starting at 1,999 and belts at 1,499. Women's bags at 4,999 and these products would be comparable to the best luxury brands in form, function, attention to detail and craftsmanship.
How the consumer has changed towards your industry/ product in the last few years?
The Indian Accessories market is growing at the rate of 25% in India. Consumers are becoming more aware and conscious of the difference between high quality accessories compared to cheaper products. Consumers are more open towards innovative products. With the advent of smartphones and technological advancements, consumer knows the need and importance of using products which is a reflection of their personality. Cross leather accessories is keen to offer top quality products at accessible luxury price points.
How is eCommerce as a market for fashion products?
eCommerce is a new store where you get what you seek at great offers. In the Western part of the world, eCommerce is a force to reckon with. Similarly in India, players like Flipkart, Snapdeal, etc have stormed into the minds of consumers. Fashion products/accessories are available on most market places and it is here to stay and grow even bigger. Cross leather accessories sees eCommerce as a very important channel of business globally.
How physical distribution/stores will change in your sector in the coming times?
Traditional Brick-and-Mortar stores will have to be more innovative in their approach. The ease or convenience with which a consumer can check, try and select will largely be a factor for conversion. Moreover, the distribution has got to be widely spread for the maximum reach with unique and exclusive offerings. Cross leather accessories aims to distribute throughout the country and make it available to consumers at their convenient destination.