Word: upmarket
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Dates: during 1979-1979
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Value-conscious consumers, of course, are not the only people paying premium prices. Some upmarket shopping is strictly self-indulgent and "Me Generation" snobbery. Candy consumption is down, but status-hungry consumers are still gobbling up items like Godiva, chocolates at $12 per lb. L'Oréal hair-care products push the message to shoppers: "L'Oréal is more expensive, and I'm worth it." Still, says Lord & Taylor Chairman Joseph E. Brooks, "I do not think there will be promiscuous luxury buying of gifts...