Definition, Meaning & Synonyms
luxury-goods
Noun
/ˈlʌkʃəri ɡʊdz/
Definition
Luxury goods are products that are not essential but are highly desired within a culture or society. They often carry a high price tag and are associated with quality, exclusivity, and prestige.
Examples
- Designer handbags and watches are examples of luxury goods.
- Many people save for years to buy luxury cars.
- The market for luxury goods continues to grow in emerging economies.
Meaning
These items are typically purchased by consumers who have a higher disposable income and seek to display wealth or status through their acquisitions.
Synonyms
- High-end products
- Premium goods
- Opulent items
