73% of Indian luxury shoppers switched brands in 5 years, says report

According to Accenture’s latest report, “Luxe Eternal: The Customer Edit,” luxury brands are facing a growing disconnect between how they position themselves and how they are perceived by consumers. This “perception gap” is particularly pronounced among next-generation buyers, who are actively redefining what luxury means to them.

The study is based on a survey of 3,435 luxury customers across 13 countries: France, Germany, Greater China, India, Italy, Japan, Saudi Arabia, Switzerland, South Korea, Spain, the UAE, the UK, and the USA. The study includes respondents who purchased across key luxury categories: apparel, footwear, accessories, leather goods, jewelry and watches, food and fine wine, fine dining, wellness, hospitality, and travel.

Despite a global GDP growth rate of around 3% annually since surpassing pre-pandemic levels in 2021, the luxury sector is witnessing a contraction in its active customer base. After peaking at approximately 400 million consumers in 2022, the number has declined to about 340 million by 2025.

Home truths

The online survey was conducted between November 3 and November 17, 2025. The analysis enables comparisons across multiple demographic and behavioral dimensions—including age, income level, luxury attitudes, and annual luxury spending.

In India, 73% of Indian luxury shoppers have switched their preferred brand in the past five years, while 66% believe that luxury brands have become more profit-driven than aspirational. Additionally, 50% feel that brand expressions are no longer as distinctive or inspiring. Together, these findings point to a fundamental reassessment of what luxury represents and raise questions about whether brands are still delivering on that promise.

At the same time, what Indian consumers value in luxury is evolving. Luxury in India is no longer defined by a single archetype but instead reflects a diverse and fragmented consumer base with changing expectations.

Consumers increasingly favor brands that make them feel special and unique (47%), offer exceptional quality and craftsmanship (41%), present evolving aesthetics that align with their personal tastes (40%), and resonate with their individuality and personality (39%). These preferences indicate that emotional resonance and personalization are becoming just as important as product excellence.

What Indians want

The overall brand experience has become a critical factor in shaping consumer engagement. A significant 83% of Indian luxury consumers value professional and knowledgeable staff, while 80% prioritize meticulous attention to detail. Heritage and country of origin influence 73% of consumers, underscoring the continued importance of authenticity. At the same time, 68% appreciate seamless resale and digital services, and 62% are open to technology-driven personalization. This underscores the growing importance of blending human interaction with digital innovation to deliver a compelling and holistic luxury experience.

Exclusivity remains key to strengthening bonds with luxury customers. When asked what exclusivity continues to be a cornerstone of luxury, its meaning is evolving among Indian consumers. Today, exclusivity is increasingly associated with access and a sense of belonging rather than mere scarcity. Around 80% of consumers value being part of an exclusive community, while 77% prioritize access to limited editions and private experiences.

Additionally, 70% appreciate brand-led events and partner experiences. This shift indicates that curated experiences and meaningful connections are becoming more important than traditional notions of exclusivity.