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Trading up refers to people who forgo a lesser product for a better product (a New Luxury good or service). New Luxury consumers are often of middle to upper income and tend to be highly selective. In exchange for being able to trade up on one product they often choose to trade down on other products. They feel that certain products are more important then other products, which is how they decide when to trade up or down. These customers also include, but are not limited to, people who have a large disposable income, few expense, single people, and divorced people. Women also contribute a large amount for New Luxury items...
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