LUXURY PRODUCTS FOR MEN
The market for luxury item for men has grown exponentially in the last decade with rise of the alpha man, who seeks to stand out and gain attention. Macho chains, stylish wide bracelets, costly perfumes, leather belts and wallets and trendy digital watches are some of the few Luxury products for men of today. It is not just expensive and trendy accessories that men are shopping for but also for designer and branded clothes that reflect their personalities.
In markets across the world, from the maturing markets like in UK and USA to the emerging ones in China and India, the size of men’s luxury goods shopping has increased exponentially. With rising incomes and online shopping been made possible, more and more men are taking to shopping in the luxury products segment. Studies have noted that unlike women who tend to be more price conscious men are brand conscious. This is one of the main factors that have helped in the growth of the men’s luxury products market.
Major brands that have cashed on in this opportunity including designer wear like Louis Vuitton, DunHill, Gucci etc. It’s not just in personal wear items that men are going for the luxury brands. But also in the vehicles they buy, the writing instruments they use etc. too they are becoming heavily brand conscious. A person holding a Montblanc pen is in a totally different league compared to person using Parker pen. Swiss watches from brands like Cartier, Longines etc. have re-defined the concept of luxury brands. The luxury products seeking men of today go in for luxury car brands like Ferrari and BMW over the other common cars that come at more affordable rates. Gold, Silver and diamond accessories too are becoming popular among men.
Men today are willing to spend more money on personal use items if it can help differentiate from the rest of the crowd. These luxury products act as a status symbol in the society. Men holding high positions in multi-national firms and government too go for the high end luxury products. In the same way youngsters who have additional dispensable income to reach out for these luxury brands while others continue to aspire to be owners of them someday. It is this never-tiring aspiration of men to get better things in life that propels the growth of the men’s luxury goods market.