These Millennial luxury innovations range from exclusive pop star merchandise to healthy protein chocolates that let consumers indulge without the guilt that is traditionally associated with caloric sweets.
Choosing exclusivity over opulence, Millennials are drawn to services that make life easier and associate luxury with products that are limited in quantity rather than traditionally expensive or name-branded. A great example of this changing mindset is concert merchandise which is becoming a staple of luxury due to its limited release status and quantity. From Kanye West to Justin Bieber, celebrities' concert merchandise is not only selling out during performances but is also spawning signature pop-ups along with department store collaborations that are breaking revenue records.
Due to their busy work and social schedules, Millennials have also embraced a convenient kit lifestyle with curated subscriptions that target a variety of niche needs. Some standouts include bride-to-be beauty kits along with curated wellness boxes that feature fitness equipment and nutritious supplements that subscribers can sample before buying.
Similarly, Millennials are embracing mental health and spirituality, leading to the rising popularity of meditative experiences and niche retailers that specialize in products associated with astrology, witchcraft and healing practices.
- Gen Z
- Gen Alpha
- Millennial (primary audience)
- Gen X (primary audience)
