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 ?
Global luxury goods market analysis, by type, market size, and forecast, 2014 -- 2020
These authors suggested that, for several reasons, counterfeit luxury goods consumption is more likely to occur when consumers are on holiday than at home.
The report focuses on the high concentration of luxury goods companies headquartered in France, Italy, Spain, Switzerland, the UK and the US.
It's common practice in China for employees to get reimbursed for work-related expenses, which usually does not include luxury goods purchases.
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.
That alone makes it an attractive market for companies selling luxury goods - one of the fastest-growing segments in retail, Brant said.
At first sight, the purchase of a controlling stake in Italy's Gucci by France's Pianult-Printemps-Redoute certainly looks this way, because Gucci is one of the world's leading purveyors of high-priced luxury goods, and "PPR" is very much a middle-market retailer group.
com/research/qndlbg/global_luxury) has announced the addition of the "Global Luxury Goods Market Report: 2012 Edition" report to their offering.
USPRwire, Tue Apr 12 2016] In 2015, luxury goods in France recorded a weaker value performance than over the review period.
The luxury goods category in the US remained by far the world's largest and continued to experience positive current retail value growth in 2015.