The market for the luxury-goods industry is on the decline. Recent reports show that a higher unemployment rate, coupled with consumer fears, has decreased the amount of money the average household spends on both essential and nonessential items, but espe

The argument is not very logically convincing as the author deliberately ignore some important points. This argument contains three flaws on which the whole argument is depending on.

First, the author states that due to the higher unemployment along with the customer fears made way to decline in the luxury-goods industry. The author didn't clearly explains what are the fears of the consumer. Whether it is about the lack of money, or fear of bankrupt or about the quality of the products they buy. Nothing is mentioned and hence it cannot be used as an evidence to support this argument.

Second, the author assumes that luxury-goods are non-essential, by nature. This is illogical assumption as the author tries to generalize it. There are luxury goods which the consumers cannot be avoided. For example, washing machines, television sets, computer etc are something that people of current society cannot live without. Therefore, the author's generalization of the luxury goods doesn't help to corroborate his argument.

Third, the author made a recommendation that in order to save the market from declining the luxury retailers should focus their attention on lower-priced markets. This recommendation cannot be said with surety that it will help to bring profit to the market. And the author doesn't explain how it will help the retailers. There are other alternative methods which can help the retailers such as providing discounts, offers, monthly installments etc. This will encourage the customers to buy the luxury goods and as a result will help the market to reap its profit.

In conclusion, the author has failed to support his argument that focusing on lower-priced market, will save the luxury -goods market from declining. The author should have logically studied to gather more data that will help to corroborate his argument.