The total value of the belts market in urban India for the youth is estimated at Rs 840 crore.
The market for leather belts is 60.1 per cent of the total belts market and is valued at Rs 505 crore.
The total volume of the leather belts market in urban India is estimated at 1.35 crore units a year, which is 40 per cent of the total market for belts.
On an average, men spend approximately Rs 595 a unit on leather belts, while women spend about Rs 625 a unit.
Most consumers prefer buying leather belts from organised multi-brand outlets (23 per cent) or exclusive brand outlets (24 per cent).
Forty-three per cent consumers prefer buying leather belts while shopping in malls.
*Age group 15-25 years (SEC A & B of urban population)
NUGGETS
Selections from management journals
When products become commodities, manufacturing companies may seek to differentiate themselves with value-added services
