<s>
In	O
economics	O
,	O
a	O
luxury	O
good	O
(	O
or	O
upmarket	B-Application
good	O
)	O
is	O
a	O
good	O
for	O
which	O
demand	O
increases	O
more	O
than	O
what	O
is	O
proportional	O
as	O
income	O
rises	O
,	O
so	O
that	O
expenditures	O
on	O
the	O
good	O
become	O
a	O
greater	O
proportion	O
of	O
overall	O
spending	O
.	O
</s>
<s>
One	O
definition	O
in	O
the	O
OED	B-Application
is	O
a	O
"	O
thing	O
desirable	O
but	O
not	O
necessary	O
"	O
.	O
</s>
<s>
It	O
is	O
much	O
less	O
used	O
for	O
objects	O
from	O
the	O
fine	B-Application
arts	I-Application
,	O
with	O
no	O
function	O
beyond	O
being	O
an	O
artwork	O
:	O
paintings	O
,	O
drawings	O
,	O
and	O
sculpture	O
,	O
even	O
though	O
the	O
disparity	O
in	O
cost	O
between	O
an	O
expensive	O
and	O
cheap	O
work	O
may	O
have	O
been	O
as	O
large	O
.	O
</s>
<s>
According	O
to	O
the	O
Global	O
Wealth	O
and	O
Lifestyle	O
Report	O
2020	O
,	O
Hong	O
Kong	O
,	O
Shanghai	B-Device
,	O
Tokyo	O
and	O
Singapore	O
were	O
four	O
of	O
the	O
five	O
most	O
expensive	O
cities	O
for	O
luxury	O
goods	O
in	O
Asia	O
.	O
</s>
<s>
These	O
kinds	O
of	O
goods	O
are	O
the	O
objects	O
of	O
a	O
socio-economic	O
phenomenon	O
called	O
conspicuous	O
consumption	O
and	O
commonly	O
include	O
luxury	O
vehicles	O
,	O
watches	O
,	O
jewelry	O
,	O
designer	O
clothing	O
,	O
yachts	O
,	O
private	O
jets	O
,	O
corporate	B-Application
helicopters	I-Application
as	O
well	O
as	O
large	O
residences	O
,	O
urban	O
mansions	O
,	O
and	O
country	O
houses	O
.	O
</s>
<s>
The	O
idea	O
of	O
a	O
luxury	O
brand	O
is	O
not	O
necessarily	O
a	O
product	O
or	O
a	O
price	O
point	O
,	O
but	O
a	O
mindset	B-Device
where	O
core	O
values	O
that	O
are	O
expressed	O
by	O
a	O
brand	O
are	O
directly	O
connected	O
to	O
the	O
producer	O
's	O
dedication	O
and	O
alignment	O
to	O
perceptions	O
of	O
quality	O
with	O
its	O
customers	O
 '	O
values	O
and	O
aspirations	O
.	O
</s>
