Changing Paradigms of Luxury Consumption in India- A Conceptual Model

Abstract

This paper tries to explore the evolution of luxury consumption or prestige seeking consumption behavior. While it upholds the luxury consumption in the Indian context, citing the statistical growth of the 'the rich class' it rationalizes the origin of such indulgence. It also tries to project the significant change sweeping the Indian society that has turned conspicuously consumerist unlike the past when display of wealth was shunned at.