Title

A World of Luxury

Authors

Tanvi Yeccaluri

Document Type

Research Paper

Publication Date

9-2-2020

Abstract

This article explores the history of luxury and the impacts of the growing consumerism in the United States. The change in consumption habits is touched on, with analysis of the COVID-19 pandemic stimulus check usage and trends. The debate of the importance of social status in the US and how our current society displays materialistic values in relation to the growing demand for luxury is a covered, and supported by numerous studies and research conducted over the past twenty years. There is an explanation of how society has become driven by the desire for luxury in order to increase social standing, and the inherent materialism embedded in American culture. The discussion of whether luxury brands will continue to grow and how they will cater to new groups is brought up throughout the article, with references to multiple current trends and designers. The argument of consumerism and materialism normalizing luxury and increasing the demand for individualism and rarity is seen throughout the article and backed with reputable studies and relevant examples.

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