Technology Aspects on Luxury Goods Market by 2025 with Top Key Players LVMH, Kering, Rolex, Tiffany, Coty, Swatch, Prada, Hermes
Luxury goods include designer apparels, ornaments, and other expensive merchandises that are typically accessible to the wealthy and often indicate status. Luxury goods are sensitive to changes in consumer income because they have a high income elasticity of demand. This means that the demand for these products fluctuates directly with the level of consumer income. The more elastic the demand is, the greater the consumer response following a change in their income. The latest report on Luxury Goods market devised by the analysts at Markets Research Inc accumulates the current…
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