In English dictionaries, luxury is Luxury, a Latin word intended to mean “prolific fecundity”, which then evolved into wasteful and unrestrained. Most European languages assimilate this concept to describe, to be exact, certain aspects of the way of life and expenses that exceed the necessary level in the production and use of various commodities.
In his best-selling book, luxury brings plenty, Vorgon Laszler defines luxury as “luxury is a lifestyle that is considered luxurious by their respective societies as a whole or in part, and is largely determined by the product or service.” Today, the concept of luxury goods in the international community is “a kind of consumer goods with unique, scarce and rare characteristics beyond the needs of people’s survival and development”, which is also called non-necessities of life.
In the Chinese concept, luxury is almost equal to greed, profligacy, waste. In fact, from the economic point of view, luxury essence is a kind of high-grade consumption behavior. From a social point of view, is a personal grade and quality of life.
Economics defines luxury goods as goods whose demand has increased more than its income. It can range from ginseng, brand-name watches to luxury cars to luxury goods. However, luxury goods are generally considered to be very expensive items that most people cannot afford. Some luxury items are neither necessary nor of practical use, such as designer bags, fancy garments and fancy cars, private jets and luxury yachts, of course, also fall into the category of luxury goods.
Luxury goods are defined as “a kind of consumer goods with unique, rare and rare characteristics beyond people’s needs for survival and development.” Luxury goods mainly include high-grade clothing, jewelry, luxury yachts, private jets and so on. It has increased the purchasing power of Chinese consumers in the international market and is by far the world’s largest consumer of luxury goods abroad. The strong consumption power of the Chinese people has boosted the confidence of many international luxury brands in the Chinese market, speeding up the opening of new stores, expanding the second and third tier city markets, and seizing market share.
China’s initial knowledge of luxury goods dates back more than 400 years to the Ming Dynasty, when the Western missionaries Matteo Ricci and Pangdi came to Beijing and presented the two self-tolling bells as gifts to the emperor, and China’s love for luxury goods unfolded. By the Qing Dynasty, because of the enlightenment from the West, the establishment of the Office of the Qing Palace. Mainly for the Qing Dynasty royal production of all kinds of luxury goods.
In the middle of the last century, the development of China’s high-end consumer market stagnated. However, after the reform and opening up, Western high-end wristwatches, leather goods and jewelry poured into China. At one time, Chinese customers blindly worshiped imported luxury goods. Almost everything, by many Western brands despise as only brand, very easy to deal with the money people.