The luxury market gets an eco overhaul to satisfy Boomer desire for biophilia
Implications - There has been an influx of luxury goods with a green ethos. The wealthy are desiring products with more of a socially and environmentally aware backstory and the rise of the eco luxury market is reframing what it really means to have a luxury experience, good or service. Targeting affluent Boomers, sustainable opulence allows consumers to feel good about indulgence.
Trend Themes
1. Eco-luxury - The demand for luxury goods and services that are sustainably produced and have an eco-friendly ethos is on the rise.
2. Recycled Materials - Designers and manufacturers are increasingly using recycled materials to create high-end products and promote sustainability.
3. Customization - The trend towards customized luxury products, including bicycles and cars, allows consumers to express their personal preferences and stand apart from mass-produced options.
Industry Implications
1. Luxury Goods - Companies producing luxury goods are increasingly adopting eco-friendly practices and using sustainable materials in order to appeal to environmentally-conscious consumers.
2. Automotive Industry - Luxury carmakers are experimenting with electric and hybrid models to reduce emissions and adhere to regulatory standards.
3. Transportation Industry - Public transit and transportation companies are incorporating sleek design elements and luxurious features to improve the overall riding experience for consumers.
