Luxary Goods in Recession
Ruwan Bandara, Manager, Sri Lanka
Growth is relative. We can not expect absolute growth forever.
Marketing is delivering on the promise, the capital economy is not delivering what it promised: enhancing the quality of life of human beings.
10% of the world's richest are earning more than 90% of the world wealth and they are buying luxury goods by exploiting others. The no. 1 world problem is protecting the earth. As great Indian Gauthama Buddha says "only inpermanancy is permanent in the world".
No body can change inpermanancy in a permanent manner, growth in luxury goods is short term. In the long run it is going to damage the world by global warming. So whatever strategy used increase the sales of luxury goods, it contributes to short-term success, not to success in the long run.