Originally Posted by
KatW
Luxury travel and luxury material things differ wildly. One is ephemeral (other than memories, photos) the other is not. In theory your overpriced watch/handbag/scarf can accompany you for years.
Also a big factor in some luxury goods inflation was arbitrage and flipping and reselling!
For example, in the luxury watch market, the elite brands limit supply below demand for exclusivity. The resale price would exceed the MSRP. So VIPs get the privilege to buy a $30,000 watch that was selling on the secondary market for $50,000. So of course everyone wanted to be on the list where someone is selling $100 bills below face value!
Then there was a lot of speculation on prices rising where people would buy collectables hoping to flip them. That generated a feedback loop of more speculative demand. This has been deflating for ~2 years now.
AFAIK flipping desirable hotel reservations like scalping concert tickets isn't a factor in that market.