Recession And The New Idea Of Luxury
How has the recession affected the lifestyles of the affluent class?
USA Today reports that for Americans, the meaning of luxury has shifted with the ongoing recession. While the affluent class is still spending money on luxury, its on things that add value to their lifestyle, be it expensive yet useful home appliances or top-end technology products, both of which create a life-long experience. Then there are people who are buying luxury items only when they are available on discounted prices. Seeing this trend, luxury companies too responded by having regular discount sales and launching new lines of ‘economical’ products.