The market for leather look-alike belts is 23.2 per cent of the total belts market and is valued at Rs 195 crore.
The total volume of these belts in urban India is estimated at 0.41 crore units a year, which is 31 per cent of the total market for belts in terms of volume.
On an average, men spend Rs 320 per unit on leather look-alike belts while women spend Rs 285 per unit.
Most consumers prefer buying them from multi-brand outlets (38 per cent).
Forty-one per cent consumers buy these belts while shopping at popular markets/shopping streets.
*Age group 15-25 years (SEC A & B of urban population) in India.
NUGGETS
Selections from management journals
Turn on the television at any given time, and you'll find "experts" explaining something: security, dancing, home design, weather patterns, and politics. But are experts born or created? According to research by Michael J Prietula, a professor of information systems and operations management at Emory University's Goizueta Business School, and coauthors K Anders Ericsson and Edward T Cokely, real experts are few and far between.
In "The Making of an Expert", recently published in Harvard Business Review, Prietula and coauthors contend that true experts reach their level of perfection the old fashioned way
