lux – u – ry (luhg-zhuh-ree) noun [from Latin, luxus and its derivative luxuria, excess, indulgence]
1. The habitual enjoyment of or indulgence in the best and most costly things.
2. An inessential and desirable item that is expensive of difficult to obtain.
In contemporary marketing usage, Prof. Bernard Dubois defines “luxury” as a specific (i.e. higher-priced) tier of offering in almost any product or service category. However, despite the substantial body of knowledge accumulated during the past few decades, researchers still have not arrived on a common definition.