You won’t believe this, the most popular liquor brand among the’rich Indians’ is not any single malt whiskey but it is a cheaper rum. The most popular Indian liquor brand for rich Indians is ‘Old Monk Rum’.
This was revealed by a new ‘Hurun India report’. The “Hurun Indian Luxury Consumer Survey 2019” has revealed the taste of ‘Rich Indians’. The “Hurun India Rich List” features 831 richest Indians.
The UK is the most preferred overseas investment destination, followed by Singapore, for rich Indians.
More than one fourth said that their investment philosophy for this year will be “avoiding risk,” said the “. “Increase in opulence and the rising millennial population in the country, investment into luxury products and service would witness an upward trend,” said Anas Rahman Junaid, MD and chief researcher of Hurun Report India.
“If India’s GDP doubles in the next 4 years, that will have an impact on the number of new millionaires in the country – resulting in a direct impact on luxury spending and investments,” he added.
Watches top the “most popular gift for men” list. Electronics ranks second and Wine and Imported Spirits third in the most popular gift for men.
Jewellery takes the first position in most popular gifts for ladies and accessories and gift cards take second and third positions respectively. Among collectibles, rich Indians prefer to spend the most on art.
“Newspaper followed by TV are the preferred choices for them to access information,” said the report. Real estate is the most preferred investment asset class for high-net-worth individuals.
Visa/ Master Card based credit/ debit cards are the most preferred mode of payment among the HNIs. Nearly 17% of the respondents use cash for daily payment and the use of E-wallet among HNIs stands close to 9%, the report added.
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