Every generation redefines its definition of luxury. How they relate to it or reject it. From the &ldquomore generation&rdquo, to the x, we have seen everything from conspicuous consumption to less is more. Each generation also redefines its relationship to luxury. The evolution of social, political and economic factors is just a few of the major defining elements in any generation&rsquos approach to luxury products. How a particular group defines luxury is often influenced by the preceding generation&rsquos relationship to it.