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Luxury goods
In economics, a luxury good is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a more significant proportion of overall spending. Luxury goods are in contrast to necessity... Wikipedia
Luxury goods are said to have high income elasticity of demand. In other words, as people become wealthier, they will buy more and more of the luxury good.
Unlike old-luxury goods, they can generate high volumes despite their relatively high prices. Businesses offer a wide variety of new-luxury products and ...