Brand consious- Asians top the chart in styling

We’ve been told that the Asian market is currently the flavour of the season, especially due to the growth of new age industries like computer software and hardware.

It was only a matter of time that major fashion brands expanded their base to these markets. Now there is evidence that not only are people in India and China more brand-conscious than their counterparts in Europe and the US — they also are quite open in their passion for those fashion labels.

In fact, almost three-quarter of adults in India and in China admit that brand names are important to them when purchasing clothing and accessories, compared to just one-quarter in the US, Great Britain, and even in the country known as the world’s fashion haven — Italy (only 28%)! These are some of the results of The Harris Poll conducted online by Harris Interactive.

The study says, “In markets like India and China, conveying an interest in brand names is paramount, especially when it comes to status symbols like formal wear for a wedding or a shiny watch. With the growing buying power of consumers in these markets it will be important for brands to continue to tailor their products to appeal to their consumers’ specific cultural values and belief.”

Brand expert Harish Bijoor says this was to be expected. “The capitals of consumption used to be in the west, these were predominantly New York and London. Today, these capitals have shifted from New York to New Delhi and from London to Lahore.

The kind of prosperity seen in these hitherto under developed countries has led to a serious increase in them becoming capitals of consumption,” he says, adding further, “We now see a clear power shift from the West to the East. This has caused a brand race among the consumers. They are now brand besotted and are willing to spend a lot more.”

And fellow industry watchers too point out how this is something that will only grow in the coming years. “Take a look at the way the metros in India are developing. Every high street has big mall which now aims at having only high end luxury brands in it. Be it UB City in Bangalore or Emporio in Delhi or Millenium Mall in Mumbai, they’ve attracted some of the best brands in the world, who would’ve scorned at the Indian market a decade ago. This only proves that the upwardly mobile Indian today is willing to spend a lot more,” says brand consultant Anirban Ghosh

He sums it up perfectly saying, “We may soon see Mumbai ousting Milan as the fashion capital, with the world’s fascination for all things Oriental coupled with our growing economies.”