Spending in the luxury industry worldwide represented US$ 312bn in 2022, growing from 259bn in 2020 and expected to reach 406bn in 2027 (+56% in 7 years).
Consumers are ready to pay over 1,000 USD for a bag, 10,000 USD for a watch but often spends less than 10$ for a full meal and a 1$ for a drink. Food budget represents now as low as 9% of a family budget, on a perpetual decrease from 43% of the family budget back in 1900 (it was 30% in 1950 and 13% in 2003).
Consumers live with the illusion that what they consume and possess contributes to their identity. They spend important parts of their budget on luxury goods when they forget about the essential, to feed themselves properly first.
This piece of Art is a clearly identifiable plastic soda bottle, large size, as a representation of a commonly worldwide spread affordable drink, improved as a high-end luxury brand value. Are you ready to switch your way of living?