the price of luxury


“The notion of luxury has also changed. Consumers are just as likely to define themselves by the way they spend their time as the objects they accumulate. World Gold Council research asked consumers in the US, China, and Italy how they would spend $500. People tended to prefer a weekend away over gold jewellery.’Gold’s competition comes from beauty treatments and spas, shoes and bags. In China, women are using iPod as a fashion accessory.’ elaborates WGC’s Sami.”

Brand Strategy, Dec/Jan 2006 Issue 198

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