Trading Up: The Democratisation Of Luxury
Syl Saller Diageo
What are we experiencing 'the democratisation of luxury', and why now? Consider some of the facts that underpin consumer purchasing today:
We have more money to spend. Disposable income in the UK is three times higher than it was in 1950. Income growth has far outstripped rising costs and we are heavy consumers, relentlessly searching for a better life. By 2020 it is predicted there will be two million millionaires in this country.
Women...