The Kotak Wealth Management survey polled 225 ultra high net-worth respondents across 12 cities in the country. The trend of shopping more at home can also be attributed to the fact that 64% of ultra HNIs are impulsive buyers of apparel and accessories. “The number of luxury brands and stores has gone up in the last 2-3 years. The realignment in the investment portfolios of ultra HNIs saw a rise in allocations to three asset classes: real estate, debt and alternative assets. This has prompted luxury brands to start expanding in India.

Source: Mint July 26, 2016 19:14 UTC