Success
The majority of luxury consumers are part of a wealthy, global élite that is well educated and concerned about social and environmental issues. These consumers use luxury products as a symbol of success. The meaning of success – and the way others regard it – is changing. Many successful people now want the brands they use to reflect their concerns and hopes for a better world. This is true in Western luxury markets and, increasingly, amongst the affluent middle classes of Asia, Latin America, and Eastern Europe. Are high-end brands exclusive only to the elite though?
Exclusivity
Luxury brands have become more approachable, making it more challenging to appeal to wealthy consumers on the grounds of exclusivity. Luxury brands that are undergoing rapid development in societies that contain both wealthy and impoverished people communities view displays of conspicuous consumption as a warning to social cohesion. So how can they still be exclusive? Well, who can afford one of the cars in the video below? That might be one way.
The Future
The improvement of economic factors worldwide and the increasing inclination of societies to consume luxurious goods caused most people to consider the elegant name and brand. Different reasons such as imitating the lifestyle of wealthy people, high social position, high quality of the products, etc., caused that people purchase Mercedes Benz or BMW. The supply of luxurious products, including fashion and equipment, leader goods, perfume, cosmetics, jewelry, automobile, hotels, and decoration, is increased worldwide. This paper attempted to investigate the lifestyle and different types and their effect on consumers of luxurious goods study it.