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Superior goods are goods that typically make up a greater percentage of a person's spending as their income rises. These are generally expensive, scarce and high quality as compared to available alternatives and substitutes. The following are illustrative examples.
TransportTransportation options such as a sailing yacht, luxury car or high-end bicycle.FashionExpensive fashion brands, bespoke tailoring and haute couture.FoodSpecialty foods, artisanal foods and foods that are grown according to organic and sustainable methods. For example, organic raisins from a well known vineyard.
ServicesLuxury services such as a spa. For example, a person living on a subsistence wage might dedicate 0% of their spending to spas, someone with a unusually high income might spend 3% on spa treatments.ProductsLuxury products such as jewelry.EventsEvents with expensive tickets such as the opera.TravelDiscretionary income often flows to travel. Wealthy individuals may travel more and select more expensive options such as first class flights.
ArtPurchases of original artworks such as paintings.Club goods such as a membership to a social club or sports club.|
| Type | | | Definition | Goods that typically make up a greater percentage of a person's spending as their income rises. | | Similar Concepts | Luxury GoodsVeblen Goods | | Related Concepts | |
Goods
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