Luxury used to be about "great comfort and extravagant living" but today it's about convenience and coolness. The "Farm to Table" movement, DIY craft beer and the presence of online shops like Etsy are examples of this new definition as are trends in housing, technology and cars.
By the year 2050 an estimated 75% or more of the world's population will have moved into city centers. This shift to urbanize is happening for a number of reasons with lifestyle as the greatest impetus. People want to cut down on their commute, sacrificing square footage and ownership in the suburbs for the chance to live/work/play within a walkable or bikeable distance.
At one time, the size of one's TV correlated directly to their level of success. Today, however, media is consumed on portable tablets and smartphones instead of stationary flat screens. Convenience has become at least on par if not more important to overall experience than the largest screen or Dolby Digital 5.1 surround.
These new criteria for luxury pervade the car industry as well. Look at the success of the Hybrid; when it became the car driven by celebrities and marketing interns alike you knew something had shifted. The need for leather or a sunroof has been replaced by fuel economy and connected tech. The first questions (or Google search terms) out of a prospective buyer's mouth at a dealership are more about connecting their phone to the car than 0-60 times.
This digital shift in consumption and expectation is transforming the marketplace and creating a whole new definition of luxury.
from Car and Driver Blog http://blog.caranddriver.com
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