Bài ôn tập số 2

With an estimated 440 million consumers worldwide now spending approximately $1.2 trillion a year on top-of-the-line products like watches, jewellery, clothing, handbags, and cars, the luxury goods retail market is steadily expanding. Yet, as a large portion of these consumers is not among the very wealthy, it has become clear that people are spending beyond their means. What then, is driving them to do do?

According to professors Niro Sivanathan and Nathan Petit, luxury items are indicators of success and thereby boost self-confidence. They hace even conducted a survey that substantiates this idea. Participants in their study who had recently ended a relationship or missed out on a promotion, for instance, demonstrated much more of a desire to shop for high-end items as a means of consolation than those who were generally happy. The participants thought that purchasing luxury items would help them forget their failures and make them feel more successful. Retail therapy notwithstanding, many consumers simply believe that ‘you get what you pay for’ – that the most expensive items are of the highest quality and last the longest. For this reason, they are in high demand among shoppers. They feel that splurging on an item rather than buying a reasonably priced generic brand will result in significant savings on repair and replacement costs in the long runs

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