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Lifestyle Products are Shaping-up Indian Consumerism:
Two decades ago India’s urban lifestyle and buying trends were in no way similar to the current scenario. In the early 1990s, India opened its doors to international trade and hence consumerism changed dramatically. Political stability and improved economic conditions ever since, have led to an increase in consumer spending. The consumers today are spoilt for choice with manufacturers catering to their every whim.
In addition to the consumer profile becoming younger, rural consumers are also beginning to demand attention.
The luxury products market in India accounts for 10% of total retail, which according to reports is now expanding at a faster pace and is set to grow from $14 Billion currently to $ 18 Billion in 2017.
In addition to luxury assets like automobiles that serve as a status symbol, facts and numbers have shown that the Indian consumer market now has a mixed bag of Furniture Manufacturers, Jewelry Manufacturers, Bag Manufacturers, Watch Manufacturers, Footwear Suppliers, etc., creating brand awareness among the upper class of tier II and tier III cities as well.
The lifestyle products market in India is expanding its ambit from an on ground presence to a firm online presence with manufacturers selling Fashion Accessories, Wholesale Beauty Products, Sunglasses and Wholesale Clothing Online.
Digital and social media have also made it possible for manufacturers to connect with the once hard to reach Indian consumer.
Among different sectors Jewellery, Accessories, Fashion Apparel, Watches, Bags and Sunglasses have shown strong growth. Jewellery Manufacturers and Watch Manufacturers have been riding the highest on this new wave of consumerism with the Jewellery and Watches segment taking up 47% of the total luxury market, with Fashion Accessories and Online Wholesale Clothing not lagging too far behind.
According to a report issued by the India Brand Equity Foundation (IBEF), the Indian consumer sector has grown at an annual rate of 5.7 per cent between FY 2005 to FY 2015. Annual growth in the Indian consumption market is estimated to be 6.7 per cent during FY 2015-20 and 7.1 per cent during FY 2021-25.
The Indian Government has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.
Tapping into these new consumer trends while also leveraging the FDI advantage and the growing awareness of lifestyle products across India, Tammy Trade has partnered with some of India’s most reputed Furniture Manufacturers, Jewellery Manufacturers, Bag Manufacturers, Watch Manufacturers and Footwear Suppliers, to offer small to medium sized businesses the best lifestyle products in both urban and rural markets.
We have a wide array of lifestyle products on our portal. From Fashion Accessories to Sunglasses Online and from Wholesale Beauty Products to Online Wholesale Clothing our verified sellers provide only the most premium quality products.
Tammy Trade offers a canvas of high quality products at transparent prices with an array of value added services to make business procurements easy and convenient, across the world. Our aim is to provide our customers with an affordable, high quality B2B marketplace, whilst maintaining professionalism and integrity in our service and advice.
We provide Value Added Services that empower businesses:
1. Insurance Assistance
2. Access to Capital
3. Logistics Service
4. Third Party Quality Checks
5. Packaging Support