Fantasy versus Finance: Can Luxury Goods Hold-up During Hard Times?

It's no big secret that in the U.S. we are experiencing some financial hardship. Will luxury goods (LG) be affected as well?Some consumers see luxury goods as a status symbol and a way to trade up to a different lifestyle market. They want to purchase what the affluent consumer is purchasing for several reason 1) to keep up with the Joneses, 2) as a reward for achieving something and 3) as a