In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional … See more

The word "luxury" derives from the Latin verb luxor meaning to overextend or strain. From this, the noun luxuria and verb luxurio developed, "indicating immoderate growth, swelling, ... in persons and animals, willful or unruly b… See more

Luxury goods have high income elasticity of demand: as people become wealthier, they will buy proportionately more luxury goods. This also means that should there be a decline in income, its demand will drop more than … See more

In economics, superior goods or luxury goods make up a larger proportion of consumption as income rises, and therefore are a type of normal goods in consumer theory. Such a good must possess two economic c… See more

Several manufactured products attain the status of "luxury goods" due to their design, quality, durability, or performance, which are superior to comparable substitutes.
Some goods are perceived as luxurious by the public s… See more

The idea of a luxury brand is not necessarily a product or a price point, but a mindset where core values that are expressed by a brand are directly connected to the producer's dedication and alignment to perception… See more

Since the development of mass-market "luxury" brands in the 1800s. Extraordinary places will be the factor of development that can be achieved by enabling the conversion of items from the mass-market to the luxury … See more