luxury goods

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Luxury goods Realised by : Imane Metkal

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Luxury goods

Realised by :

Imane Metkal

Plan

• Luxury good• Socioeconomic significance

• Market characteristics • Luxury brands • Market size

• conclusion

• Luxury good :

is a good for which demand increases more than proportionally as income rises.

Socioeconomic significance

Luxury goods

Design

Quality Durability

performance

Market characteristics

• Some luxury products have been claimed to be examples of Veblen goods, with a positive price elasticity of demand. for example, making a perfume more expensive can increase its perceived value as a luxury good to such an extent that sales can go up, rather than down.

• Classic luxury goods include haute couture clothing, accessories, and luggage.

• Luxuries may be services.

Luxury brands

• A luxury brand or prestige brand is a brand for which a majority of its products are luxury goods.

• LVMH (Louis Vuitton Moet Hennessy) is the largest luxury good producer in the world

Market size

• The top ten markets for luxury goods account for 83 percent of the market :

The U.S. is the largest market for luxury goods

• others include Japan, Germany, Italy, France, UK, Canada, Spain, Switzerland, and Russia.

conclusion

« Either luxury is the consequence of wealth, or it makes it a necessity.

Luxury corrupts both, the rich and the poor, the one by possession, the other

by covetousness. »Jean-Jacques Rousseau