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Marketing

Definition of luxury differs depending on levels of affluence

February 1, 2017

Affluent consumers favor heritage luxury brands; image source Rolls-Royce Across segments, consumers equate "cars" with luxury; image source Rolls-Royce

 

By Sarah Jones

While there seems to be a general consensus on what the term “luxury” means, the definition in the minds of different segments of the population varies, according to a new report from the Shullman Research Center.

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