Luxury
Luxury is exclusive to the rich because it excludes the majority of the population by setting an economic threshold through high prices, scarcity and brand premiums. At the same time, it serves as a status symbol and fulfils the psychological need of the rich to demonstrate their status and differentiation. In addition, the high quality, unique design and rarity of luxury goods further cement their association with the affluent.
Luxury is exclusive to the rich because it excludes the majority of the population by setting an economic threshold through high prices, scarcity and brand premiums. At the same time, it serves as a status symbol and fulfils the psychological need of the rich to demonstrate their status and differentiation. In addition, the high quality, unique design and rarity of luxury goods further cement their association with the affluent.
Luxury is exclusive to the rich because it excludes the majority of the population by setting an economic threshold through high prices, scarcity and brand premiums. At the same time, it serves as a status symbol and fulfils the psychological need of the rich to demonstrate their status and differentiation. In addition, the high quality, unique design and rarity of luxury goods further cement their association with the affluent.