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:
“In full view of his television audience, he preached a new religion—or a new form of Christianity—based on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.”
—New Yorker (April 23, 1990)