In economics, luxury goods refer to products with the highest value/quality ratio. From another perspective, luxury goods refer to the products with the highest ratio of intangible value to tangible value.
In the English dictionary, Luxury means luxury and Luxus. Luxus is a Latin word, which originally meant "extremely fertile" and later evolved into waste and excess. Most European languages have absorbed this concept. To be exact, it is used to describe the expenditure and lifestyle of some aspects beyond the necessary level in the production and use of various commodities.
Luxury brand
The luxury brand Wohlgang Laszler defines luxury in the best-selling book "Luxury brings prosperity": "Luxury is a lifestyle that is regarded as luxury by all or part of their respective societies, and is mostly determined by products or services. Today, the international concept of luxury goods is "a kind of consumer goods with unique, scarce and exotic characteristics that exceed people's survival and development needs", also known as non-necessities of life. In China, luxury goods are almost equal to greed, profligacy and waste. In fact, from the perspective of economics, luxury goods are essentially a high-end consumption behavior, and there is no distinction between praise and criticism. From a social point of view, it is the improvement of personal taste and quality of life.
Economics defines luxury goods as goods whose demand grows faster than their income. May cover a wide range, from ginseng, brand-name watches to luxury cars, may be luxury goods.
However, people usually think that luxury goods are very expensive items, that is, items that most people can't afford. Some luxury goods are expensive items that are neither necessary nor practical, such as brand-name bags, high-end clothes, high-end cars and so on. Private jets and luxury yachts certainly belong to the luxury category.
The definition of luxury goods is "a kind of unique, scarce and exotic consumer goods that exceed people's needs for survival and development". "Luxury goods" mainly include high-end clothing, jewelry, luxury yachts and private jets. It has increased the purchasing power of China consumers in the international market. Up to now, overseas luxury consumption from China has been ranked first in the world. The strong consumption power of Chinese people has doubled the confidence of many international luxury brands in China market, and they have accelerated the opening of new stores, expanded the markets of second-and third-tier cities and seized market share.
China's initial understanding of luxury goods can be traced back to the Ming Dynasty more than 400 years ago. Matteo Ricci and Diego de Pantoja, western missionaries, came to Beijing and presented two chimes to the emperor. China's love for luxury goods began. In the Qing dynasty, because of the enlightenment of the west, the Qing palace department was established. Mainly for the Qing dynasty royal family to make all kinds of luxury goods.
In the middle of last century, the development of high-end consumer market in China came to a standstill. However, after the reform and opening up, western high-end watches, leather goods and jewelry poured into China. At one time, customers in China blindly worshipped imported luxury goods, and almost everything came to them. Many western brands despise them as rich people who only recognize brands and are easy to deal with.
Cartier launched a series of jewelry with China elements according to the artistic needs and aesthetic tastes of China customers, and the brand quickly won the love of China people; Later, in order to meet the demand of China market, China Regal introduced dragon watches, dragon bags and dragon jewelry.
Development history editor
First, the concept of luxury goods is constantly expanding. It changes with the times, and there are different representative products in different periods.
For example, in China, in the 1980s, "luxury goods" were watches, sewing machines and bicycles, which gradually evolved into televisions, refrigerators and telephones. In other words, these items have changed from "luxury goods" in people's early impressions to necessities today.
Second, the audience of luxury goods is a minority, that is, the wealth elite of society.
luxury goods
luxury goods
Due to the conspicuous characteristics of luxury goods, there is a common phenomenon among ordinary working-class people in China: save a few months or even half a year's salary to buy a luxury brand dress or bag like LV in a specialty store, and then put it on or take the bus. This has become a prominent feature of some luxury consumers in China at this stage. This is why we encourage people who have the ability to consume luxury goods, and strive to cultivate their cultural concepts and aristocratic temperament, so as to finally make luxury consumption return to rationality and become a part of the normal operation of the market.
Third, in terms of industrial nature, the luxury consumption industry is actually an elite industry, which more represents a high-quality lifestyle.
While enjoying luxury goods, we are also pursuing a high-quality life. Top consumer goods are often associated with successful brands, excellent quality, excellent design concepts and even historical accumulation and cultural inheritance, and expensive prices are the last factor. In other words, luxury goods are not necessarily the most expensive, and expensive things are not necessarily luxury goods. At a deeper level, luxury goods are actually a way of life.