The market for the luxury-goods industry is on the decline. Recent reports show that higher unemployment rate, coupled with consumer fears, has decreased the amount of money the average household spends on both essential and nonessential items, but especially on nonessential items. Since luxury-goods are, by nature, nonessential, this market will be the first to decrease in the present economic climate, and luxury retailers should refocus their attention to lower-priced markets.
The argument that the luxury-goods markets will be the first to decline and their retailers should refocus their attention to lower-priced markets is not entirely logically convincing, since it ignores certain crucial assumptions.
First, the argument assumes that this market will be the first to decrease in the present economic climate, yet it does nothing to explain why it would be the first among other markets.
Second, the argument never addresses the point why luxury retailers should refocus in lower-priced markets, even if might be an outcome it lacks to explain why the refocus has to be in the opposite market and not in the one they already have experience with or may re-adapt.
Finally,
Thus, the argument is not completely sound. The evidence in support of the conclusion that luxury retailers should refocus their attention to lower-priced markets does little to prove that conclusion, since it does not address the assumptions already raised. Ultimately, the argument might have been strengthened if the author could have shown that the market will be the first to decrease and they will be affected in such a way there will no way back in a considerable amount of time.
0 comments:
Post a Comment