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Luxury is a term used to describe a lifestyle in which people spend a great deal of money to purchase expensive items from well-known brands.
The meaning of the term 'luxury' has been discussed since antiquity. The modern term is derived from the Latin terms luxus and luxuria. The meaning ranged from sumptuous forms of representation to prodigality and the deadly sin of luxuria caused by excess and lasciviousness. These two roots influenced the discourses on luxury in European history. There were two dominant lines of discussion: the dimension of splendour in material culture and the practices of living on the one hand and the dimension of moral criticism on the other.[1]
The word "luxury" originated from the Latin word luxus, which means indulgence of the senses, regardless of cost.[2]
Perceptions and definitions of luxury evolve with cultural and technological advances. Something that was once considered a luxury, such as indoor plumbing, might become commonplace. For example, "for nearly one-third of the human population that has no access to electricity, power is a luxury of the economically prosperous", and for people in "densely populated, poverty-stricken villages... light bulbs, washing machines, and indoor plumbing are unimaginable luxuries".[3]
The Concept of Luxury from a Consumer Culture Perspective (PhD Thesis)
Luxury is considered to be an opposite condition from frugality.[4]
Origin
editThe word "luxury" originated from the Latin word "Luxus", which means indulgence of the senses, regardless of cost.[2]
Great comfort, especially as provided by expensive and beautiful things.
A state of great comfort or elegance, especially when involving great expense.
History
editHistorical indications of luxury can be found in ancient tombs, where wealthy persons were buried with jewelry and precious metals.[5]
The production of luxury goods has been derided as "an insult to the poor" and defended as a source of jobs and economic opportunities.[5]
Concepts
edit- Luxury goods, an economic good or service for which demand increases more than proportionally as income rises
- Luxury tax, tax on products not considered essential, such as expensive cars
- Luxury tax (sports), surcharge put on the aggregate payroll of a sports team to the extent to which it exceeds a predetermined guideline level set by the league
- Luxury car, expensive automobiles
- Luxury trains, expensive tourist trains
- Luxury yacht, expensive privately owned, professionally crewed yacht
- Luxury real estate, niche real estate market dealing with the highest economic group of property buyers
- Luxury resort, exclusive vacation facilities
- Luxury box, term for a special seating section in arenas, stadiums and other sports venues
- Luxury magazine, magazines devoted to fine craft and luxury goods
References
edit- ^ Rengenier C. Rittersma, Luxury in the Low Countries: Miscellaneous Reflections on Netherlandish Material Culture, 1500 to the Present (2010), p. Page 27.
- ^ a b Salehzadeh, Reza; Pool, Javad (19 Oct 2016). "Brand Attitude and Perceived Value and Purchase Intention toward Global Luxury Brands". Journal of International Consumer Marketing. 29 (2): 74–82. doi:10.1080/08961530.2016.1236311. Retrieved 4 October 2019.
- ^ Kimberly K. Smith, Powering Our Future: An Energy Sourcebook for Sustainable Living (Alternative Energy Institute; 2005), p. 13.
- ^ James C. Fernald, English Synonyms and Antonyms, with Notes on the Correct Use of Prepositions (1896), p. 180.
- ^ a b Jean-Noël Kapferer, Vincent Bastien, The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands (2012), p. 6-10.
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- This open draft remains in progress as of August 8, 2024.