What Is a Luxury Good?

Luxury is defined internationally as "a kind of consumer goods with unique, scarce, rare and other characteristics beyond the scope of people's survival and development needs", also known as non-necessities.

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In terms of economics, luxury goods refer to products with the highest value / quality relationship. From another perspective, luxury refers to the product with the highest ratio of intangible value / tangible value. ^[1]

In the English dictionary, luxury is

First, the concept of luxury goods is continuously extended. It changes with the times and has different representative products in different periods.

For example, in China in the 1980s, "luxury goods" for people was watches,

"Luxury" is actually a foreign concept, referring to luxury in English. What is Luxury?

Fashion and leather goods

2. Yacht

3. Cars and motorcycles

4. Jewellery and watches

High-end household goods

5. Pen

6. Perfume and cosmetics

7. Wine

8. Furniture and home textiles

9.Kitchenware, tableware and porcelain