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:
“The child-rearing years are relatively short in our increased life span. It is hard for young women caught between diapers and formulas to believe, but there are years and years of freedom ahead. I regret my impatience to get on with my career. I wish I’d relaxed, allowed myself the luxury of watching the world through my little girl’s eyes.”
—Eda Le Shan (20th century)