Luxury is often perceived as expensive and exclusive. It isn’t necessary for your basic needs, but owning it gives you immense pride, achievement, comfort, or abundance. According to a YouGov report, 26% of Americans will likely purchase luxury goods over the next year, up from 21% over the last few years.
While luxury goods usually cost a bomb, a few items are worth spending extra dollars on. Check out the list.
Wellness Programs
Americans are spending $5,321 annually on wellness programs. An increasing number of people are now interested in wellness services focused on health, fitness, nutrition, appearance, sleep, and mindfulness.
Wellness spending is necessary for your personal development and overall well-being. Hence, it is a luxury you should consider investing in.
Fitness Equipment
If you are a fitness lover who hates going to the gym, buying a treadmill, weight set, stationary bike, or other home workout equipment is a good idea. The flexibility to exercise at your convenience will justify the cost.
Healthy Food
If healthy food seems like a luxury, you should still go for it because there is nothing wrong with taking care of your health.
A food and healthy survey found that consumers’ preference for products with labels such as ‘organic’, ‘non-GMO’, and ‘no added hormones or steroids’ has increased. Moreover, 6 out of 10 Americans try to avoid processed foods. Price is also one of the key indicators of consumers’ confidence in the safety of the food they buy.
Skincare Products
A survey revealed that dryness, wrinkles, acne, sun damage, oiliness, sensitivity, redness, enlarged pores, scarring, and pigmentation are common skincare concerns among Americans. 10% are willing to shell out more than $50 on a single skincare product.
Since skin cancer is the most commonly diagnosed cancer in the U.S., buying quality skincare products is a luxury you shouldn’t mind spending on.
Winter Wear and Gear
Winter coats, boots, and ski and snowboarding gear can last several years if you care for them properly. Instead of spending a few dollars on cheaper versions every year, you can make a one-time purchase of premium-quality winter gear.
Most high-end brands that sell winter clothing, accessories, and equipment are 100% worth the price.
Bedding
A survey found that 21% of Americans rarely or never wake up feeling rested, and sleep product preferences are one reason. Superior bedding products can deliver restful sleep and last several years.
Many Americans believe the most worthwhile bedding perks are a high-quality mattress, memory foam pillows, high-thread-count sheets, down comforters, and weighted blankets.
Ergonomic Furniture
A Harvard Health Publishing article states that poor postures can lead to back and neck problems and other health issues, such as incontinence, constipation, heartburn, slow digestion, headaches, poor balance, and breathing difficulties.
Ergonomic furniture, such as chairs, desks, keyboard trays, and sofas, encourages proper body alignment and lowers the risk of musculoskeletal disorders. So, while they are pricey, they are worth every penny for good health.
Running Shoes
Running with ill-fitted shoes can increase the risk of injury, inflammation, or infection of your ankles or toenails. Such shoes also exert unwanted stress on your leg or spine.
Don’t think twice before buying running shoes from upscale footwear brands. It is better to spend more on the right shoes than on medical treatments for health issues caused by inappropriate footwear.
Electronic Equipmen
The repair cost of televisions, computers, cell phones, washing machines, dishwashers, stoves, ovens, etc., can amount to hundreds of dollars. However, due to their high quality and durability, repairs or upgrades are usually less frequent in top-notch branded products.
While they have a higher initial outlay, their long-lasting value proposition minimizes costs.
Travel Experiences
According to a survey, 62% of Americans believe that money you spend no longer defines luxury; instead, it is about how personalized the experience is. 59% are hunting for luxury gateways, regardless of their income. Another report states that luxury travelers are as motivated as ever to invest in unique high-end experiences and once-in-lifetime adventures.
Vacations build a treasure trove of memories, and it’s okay to indulge in this luxury at least once in your life.
Fine Dining
Eating out in fancy places is expensive, but American diners are now choosing four- and five-dollar restaurants over traditionally affordable restaurants. Fine dining offers a distinct culinary experience regarding the menu, plush interiors, and attentive staff service.
You can splurge on fine dining on special occasions such as birthdays or anniversaries to pamper yourself.
Eye Wear
Don’t settle for cheaper quality if you want to wear prescription glasses, sunglasses, contact lenses, or blue light blockers. Cost-convenient eyewear may harm your eyesight or not provide clear vision.
Consider investing in eyewear with a higher price tag because they are less likely to scratch or underperform.
Professional Attire
Your work outfits speak volumes about your identity, personality, and professionalism. If your job involves a leadership role or interacting with high-profile clients/customers, you should go the extra mile to curate an elegant professional wardrobe.
Professional Services
Sometimes, it is worth paying someone for chores and services that make your life convenient. It is a luxury to utilize that time with a loved one or get other rewards.
For example, you can outsource lawn mowing to a lawn care company or hire a financial advisor for tax planning.