There are many products and services today which are marketed as being ‘luxury’ or ‘premium’.
Luxury products, goods or services in years gone past were usually upmarket goods outside the reach of most consumers. Most consumers strived to save and purchase such goods so they could have some ‘luxury’, whether in the home (car, cosmetics, linen etc) or when on holidays (hotels, ships, tours etc). Today, luxury seems to be not reflected in exclusivity of the product or its price, but a potentially somewhat meaningless word placed on a label or in a brochure.
Premium used to mean the best or possibly of the highest standard, but today everything seems to be ‘Premium’, from beer to foods, cars to investments, and the list goes on.