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Research on the Phenomenon of Modern Luxury Consumption
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Abstract
Along with the fast growth of the Chinese economy, the city’s population continues to grow, and as the consumer becomes more mature day by day, the quantity of Chinese luxury consumers has obviously increased. This article analyzes luxury consumption by elaborating on the definition of luxury and the relevant situation of luxury consumption and by expounding on the development of luxury thinking. This paper will use the relevant knowledge of international trade, economics, and statistics to analyze the data collected through journal literature inquiry and network search. The result shows that the irreplaceable qualities of symbols, which might reveal a consumer’s financial and social position, their expectation of receiving respect, and their capacity to connect with others, affect the level of luxury purchase. As luxury consumption has two sides, the state and government should regulate and control it. From this vantage point, the phenomenon of luxury consumption needs to be fairly and impartially assessed. The study of luxury consumption can guide consumers toward establishing a sustainable and healthy consumption concept.
Keywords
luxury goods, consumption phenomenon, consumption upgrading, supply and demand relationship
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Cite this article
Yao,Y. (2023). Research on the Phenomenon of Modern Luxury Consumption. Advances in Economics, Management and Political Sciences,38,160-164.
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Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development
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