The international concept of luxury goods is "a kind of consumer goods with unique, scarce and exotic characteristics beyond the scope of people's survival and development needs", also known as non-necessities of life. 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.

The development history of luxury goods

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.

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 will encourage people who have the ability to consume luxury goods, and strive to correct people's psychology of comparing with others and following blindly, so as to finally make luxury goods consumption return to rationality and become a part of the normal operation of the market.