While they still use luxury brands as a north star navigation tool for societal markers of wealth, success, and aspiration, the Next Gen are redefining the luxury market according to their own values and views on the world that they want to live in.
But this dynamic and complex cohort is not a homogenous monolith, so the ways in which they relate to and apply luxury to bolster their own identities is not consistent. And this relative relationship with luxury and the usage thereof differs most significantly according to socio-economic strata.
Now it’s up to luxury brands to understand the nuances within this audience. And with us on the brink of what may be the most pro-luxury youth mindset today, the opportunities for the brands who can win with the Next Gen are huge.Read Full Report