Luxury Good
Luxury goods are products and services that are not considered essential and are associated with affluence. The concept of luxury has been present in various forms since the beginning of civilization. Its role was just as important in ancient western and eastern empires as it is in modern societies. With the clear differences between social classes in earlier civilizations, the consumption of luxury was limited to the elite classes.
Read more about Luxury Good: History, Semantics, Economics, Socioeconomic Significance, Market Characteristics, Luxury Brands, Market Size, Market Trends, Luxury Department Stores, Luxury Shopping Districts
Famous quotes containing the word luxury:
“A metaphysician is one who, when you remark that twice two makes four, demands to know what you mean by twice, what by two, what by makes, and what by four. For asking such questions metaphysicians are supported in oriental luxury in the universities, and respected as educated and intelligent men.”
—H.L. (Henry Lewis)