Obsession with luxury brands has gone way too far. The last decade has seen a significant shift in our lifestyle, resulting in an increase in demand for global luxury brands. Luxury goods have an innate appeal—excellent quality, craftsmanship, exclusivity, innovation, sense of place & time, sophistication & design aesthetic.
Luxury buying tends to provide its consumers a temporary boost to self-esteem, a momentary sense of accomplishment, and belonging. Metros do have a lot of buyers of luxury products online but that is not where the game ends! Luxury sells wherever there is an appetite for it.
Its magical charm extends further beyond the metro to the smaller towns too. There has to be a consumer with a penchant for good things and who also has the money to afford them. In tier 2 and tier 3 cities, such people are in large numbers.
People in smaller cities flock to e-commerce platforms to buy luxury goods online due to a lack of options in brick-and-mortar retail. Luxury businesses understand that, while they may not be able to open a store in every available area but a well-planned eCommerce digital marketing services can help them reach their target audience in non-metros.
Many marketers still believe that luxury can only be marketed in metros, but the truth is that these companies are generating significant revenue in Tier 2 and Tier 3 cities as well. It is observed that approximately 60 percent of their revenue comes from non-metro. Improved living conditions and resource opportunities in these cities have witnessed that about 44% of Indians with good income are living in non-metros.
Cities like Panipat, Agra, Ludhiana, Jodhpur have an amazing number of online buyers of luxury items. If your business only focuses on metros, you may be missing out on a substantial chunk of your company’s revenue.
Here are some reasons why luxury purchasing has gained far more reach are in non-metros cities:
1. Luxury goods are associated with exceptional quality
Luxury brands have established a notion that they offer superior quality to their consumers. People in non-metros are ready to pay a fair amount of money for good quality goods. The digital marketing strategy of these luxury brands has conditioned our brains that we can receive quality goods at doorsteps by spending a good amount. We consider luxury products as an investment.
For instance, customers of Apple Inc typically wait 24/7 for the latest releases. Despite the fact, Samsung’s products are good in features, Microsoft and Xiaomi make cheaper phones that are in no way inferior.
Apple manages to receive a high degree of brand loyalty and appears to set sales records year after year. This is mainly because many of us consider non-luxury goods as inferior and assume that high-priced products are of superior quality and worth our investment.
2. Considered to be a self-esteem booster
“People buy luxury brands not because they just care about raw materials, craftsmanship, and high quality, but because they want to communicate something about themselves.”–Pinar Yildirim
Luxury products stand out and are seen as a social statement. They help boost a person’s self-esteem and contribute to increased social acceptance, allowing them to blend in with society and trends. People in non-metros, as well as metros, share the same opinion, that’s why they have indulged in luxury shopping in recent years.
Luxury brands have a striking marketing strategy that unfolds a sense of authenticity among both metros and non-metros residents to make expensive purchases.
3. Social proof is another contributing factor
Millennials and Gen Z are profoundly influenced by social media. Influencers and celebrities on social media instigate us to mimic their lifestyle. Non-metro dwellers desire to imitate their favorite influencers and celebrities just like the ones in metros. So why luxury purchasing has gained craze at such a phenomenal pace in tier 2 and tier 3 cities.
Why do we pay such hefty prices for luxury brands? Is it good quality or to link yourself with the stature of the brand in society? It’s a combination of both. People anywhere across the globe who can afford are ready to pay exorbitantly to receive quality products. That’s why luxury is selling not just in metros but everywhere.