This turns luxury goods into safe haven investments, which may tempt some consumers to put their savings towards a big-ticket purchase.”
Naturally, consumers who want the best are drawn to this perception of quality – money talks. “Soaring inflation is also a key demand driver for luxury goods as they hold their value very well and can even increase in value, especially at times of material scarcity. You don’t need me to tell you that inflation and supply chain shortages are two of the most pressing issues at the minute. Packaging suppliers are having to walk a tightrope between making a pack cost-effective and adding the bells and whistles required
While calling it a ‘recession-proof’ market is a little absolutist, it’s certainly one of the most recession-resistant because it plays by different rules than most other industries. Value for money is the key driver in most industries, but for many luxury consumers, ‘value’ is almost a four-letter word.
Of course, but many luxury shoppers certainly perceive it that way – and perception is reality , luxury and quality go hand-in-hand. More expensive products aren’t necessarily higher quality .
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