Why is luxury industry important?
Why is luxury industry important? The luxury goods market is worth billions and will continue to grow by 2030. Some of the reasons why people buy luxury goods when they can't afford them include a sense of irrationality, the supposed quality, the impact they have on self-esteem, and a sense of accomplishment.
How does luxury affect people?
Can luxury improve your mental wellbeing? In the short term, a luxurious experience can increase emotions such as pride, relaxation and contentment – and whilst these feelings are temporary, they can help us to achieve balance in our everyday lives.