The Consumer Research Center of the well-respected Conference Board surveyed almost 2,000 affluent consumers around the world and found that luxury is defined as time.
"Consumers have remarkably similar perspectives on how to define luxury," says Lynn Franco, director of the Conference Board Consumer Research Center. "The largest share of luxury consumers (44%) and the largest share of consumers in each country most strongly agree that 'luxury is having enough time to do whatever you want and being able to afford it.' So, for luxury consumers worldwide, time is the ultimate luxury."
After time, "life experiences" and "comfort, beauty and quality", wa smentioned as a definition of luxury. What do the RIch and fabulous do for luxurious fun? High-tech gadgets and travel. Using a personal computer, the Internet, or a cell phone, rank as the most-common lifestyle activities by nearly 75% of all luxury consumers, while travel comes next.
These class define status by collecting antiques and rare items followed by artwork and vacation homes.
Comments