Luxury goods adapt to cater to younger consumers like Millennials & Gen Z
Trend - Broadening audience appeal, luxury brands are switching gears to adopt aesthetics and designs better suited to the desires of younger consumers. Whether it be tapping influencers for marketing appeal or integrating designs more practical for younger audiences, brands are redefining how luxury goods are perceived.
Insight - As Millennial and Gen Z consumers gradually build their buying power, products in the luxury market become more accessible to them. For many individuals in this demographic, aesthetics is highly important and a symbol of status. As a result, Millennials and Gen Z look for products that allow them to better express their personal brand while indulging in their newly amounted disposable income.
Insight - As Millennial and Gen Z consumers gradually build their buying power, products in the luxury market become more accessible to them. For many individuals in this demographic, aesthetics is highly important and a symbol of status. As a result, Millennials and Gen Z look for products that allow them to better express their personal brand while indulging in their newly amounted disposable income.
Workshop Question - How could you pivot your most popular product or service to appeal to younger consumers like Gen Z? How could you adapt the messaging?
Trend Themes
1. Youth-focused Luxury - Luxury brands tap into the desires of younger generations and broaden their audience appeal.
2. Personal Brand Expression - Millennials and Gen Z look for products that allow them to express their personal brand while indulging in their disposable income.
3. Bold Design Choices - Luxury brands make bold design choices to stand out in the market.
Industry Implications
1. Luxury Fashion - Luxury fashion brands are redefining how luxury goods are perceived to appeal to younger generations.
2. Luxury Beauty - Luxury beauty brands are launching high-end experiences to attract consumers looking for unique and exclusive products.
3. Luxury Accessories - Luxury accessory brands are creating unique products to stand out in the market and appeal to younger audiences.
4 Featured, 31 Examples:
75,220 Total Clicks
Date Range:
Oct 18 — Nov 18
Trending:
Warm
Consumer Insight Topics:
