When the price of most types of products goes up, demand for them tightens. Except for a couple of special cases.

And they do so for very different reasons. Meet Veblen and Giffen goods, the products that“break the rules”. Normal goods can be further divided into two types: necessity goods and luxury goods.

Luxury brands are so-called Veblen goods: a category of consumer products that inverts the usual laws of economics. Instead of crimping demand when prices rise, luxury goods can become more sought ...

Luxury goods cost a lot more these days, with no improvement in quality to make up for it. Weak sales look like a more ...

For example, those whose art have become desired by many or by a rich private market may find that their art now becomes Veblen goods, which are items that actually become more desirable the more ...

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Despite a weak Q3, particularly in the leather and goods segment, management's focus on brand power and exclusivity remains unwavering. The Chinese market shows temporary weakness, but the long ...

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Investopedia / Jiaqi Zhou Consumer durables, also known as durable goods, are a category of consumer goods that do not wear out quickly and therefore do not have to be purchased frequently.

Durable-goods orders dropped 0.8% last month for the second straight month, the government said Friday. Economists polled by the Wall Street Journal had forecast a 1.0% decline. Back To Top ...