As the purchasing power of Indians increased, so did their preference for luxury products. India is the third largest retail market in the world, according to a report by management consultancy Bain & Company. In 2024, the gross merchandise value (GMV) of the Indian e-retail market was pegged at $60 billion. A Statista survey in March 2024 revealed that over 80% of Indian luxury consumers prefer purchasing high-end fashion from global brands like Gucci and Armani.
And this trend is now extending to travel. American Express found that 50% Indians had planned an international trip in 2025 to purchase a luxury good/investment piece. It also noted that 81% Indians prioritize purchasing high-quality local goods during their global travels. According to Skyscanner’s travel trends 2026 report, 57% of Indian travelers are stocking up on skincare and beauty products abroad, a trend that has also been highlighted in Skift Megatrends.
These have translated into monet
