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Originally Posted by Phil
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Thanks Phil...
That last link (on the evolving luxury market) reminds me of something I read once (sorry I don't have the source)...
I read that during downturns, people don't give up luxuries. Instead, they just buy more affordable, less expensive luxuries...
So, the "luxury" market never disappears. Instead of the luxury of a very expensive dinner, they still might eat out, just at a lower-priced restaurant, or simply buy a cheaper "luxury" item, like bars of chocolate, to indulge in...
Another broad thing I've noticed (which evolves over decades) is the "Americanization" (or "Westernization") of overseas practices.
For example, karaoke-yoga I would say is quite different from yoga as it has been practiced for thousands of years in India. Yoga has already been known in the US for many decades, and karaoke-yoga is another step in the "Americanization" of something which originated overseas. (It is interesting that both karaoke and yoga originated from different parts of Asia, but it took an American to put the two ideas together!)
Another one could be the "eastern" martial arts. Ultimate Fighting (the UFC) could be said to be the result of the "Americanization" of various eastern martial arts, like jiu jitsu, karate, muay thai boxing, and so on...
The question then arises... Are there other "overseas" popular practices, which could be "imported" and "Westernized" in a profitable way?
Best wishes,
Dien