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luxury goods
This term describes a specific category of consumer products that exceed basic needs, focusing on prestige, status, and aesthetic appeal. It is frequently used in economic and marketing contexts to describe goods with high income elasticity of demand, meaning demand increases significantly as consumer wealth rises.
In a commercial sense, the term implies a level of exclusivity and brand heritage. While a standard product is judged by its utility, luxury goods are judged by their scarcity and the social signal they send to others.
Meanings
Examples
The demand for luxury goods typically increases when disposable income rises.
I cannot believe I am actually spending this much on luxury goods.
The boutique specializes in rare luxury goods from across Europe.
He wanted to impress her by gifting her a selection of luxury goods.
Many luxury goods are now being sold through exclusive online platforms.
The customs officer asked if she was carrying any high value luxury goods.
She has always had a taste for luxury goods and fine art.
The store window was filled with shimmering luxury goods that felt out of reach.