Luxury

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Luxury

A good or service not considered essential. Examples of luxuries include massages, gold watches and sail boats. Luxuries are often, but not always, fairly expensive. Luxury industries tend to be fairly prone to hard downturns during a recession. For example, if one is concerned for one's own job security, one is less likely to splurge on a massage. However, some luxury products, such as custom yachts, are considered recession-proof because they only appeal to the ultra-wealthy, who remain wealthy even in hard times.
References in periodicals archive ?
The expanding middle class income group coupled with the urge of consumers for premium class products are the key drivers for the market growth of hard luxury goods in ASEAN region.
3 billion in luxury goods sales, according to Deloitte's first Global Powers of Luxury Goods report.
In addition, it has banned advertising of luxury goods in (http://edition.
People in Qatar were the biggest consumers of luxury goods.
Whereas the consumer goods sector in general is coping with the fragile recovery--facing the specter of a second recession in Western Europe--sales of designer handbags, premium quality cars, and other luxury goods continue to climb.
A resumption of luxury goods purchasing has allowed retailers to work through their inventories.
Although the luxury goods sector has traditionally been immune from financial ups and downs, the market has been hit hard in Egypt.
In fact, Asia generates around a third of luxury goods sales, with the fastest growth coming from China.
Most recently, PPR has acquired 42 percent of Italian luxury goods company Gucci Group.
com/research/qndlbg/global_luxury) has announced the addition of the "Global Luxury Goods Market Report: 2012 Edition" report to their offering.
Personal luxury goods include luxury items used for personal use.
Insight Report: The Rise of Luxury Goods in Emerging Cities 2019 is a 2015 market research that provides details regarding the attitudes of suppliers and wealthy consumers towards luxury brands in emerging cities, market size and more.