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Luxury — it’s a term that’s being bandied about more and more frequently and its definition is changing. Yes, it can still be an outrageously expensive automobile, or an indulgent weekend at a four-star spa, or even a fabulous piece of jewelry. But the definition has expanded; it now encompasses owning a product that defines who you are and it has also become experiential — sharing a bag of popcorn in the park with a special friend. One of the greatest luxuries of all in today’s busy world where everyone competes to be the “busiest,” almost like it’s a badge of honor, is time. Time has become the most precious commodity. People are beginning to rebel against being on call 24/7 with cell phones, voice mail and email constantly demanding attention. With the one exception of internet shopping, which saves time, people are starting to unplug from technology and they are making the time to do what is important to them — spending an evening with family or friends, or pursuing an activity they enjoy. It’s the dawning of a high-touch era in a high-tech world, one where new opportunities will become available as firms develop ways to provide their customers with the new luxury — more free time.
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