Luxury Goods and Aspirational Consumers

As the Economist videographic shown below illustrates, the worldwide market for luxury goods has grown significantly over the past fifteen years. The very rich have always consumed luxury goods and continued to do so even in the depths of the current recession. The headwinds facing the producers of luxury goods have largely been due to a pullback by “aspirational” consumers. For more and a videographic illustrating this situation, please continue reading this article.

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