#LUXURY CONSUMPTION #MILLENNIAL #EXPERIENCES: WHY MILLENNIALS ARE THE FUTURE OF LUXURY

Industry: Luxury

Location: Global

Related to: Millennials are becoming the pillar of luxury consumption.

Reviewer: Morun HE – Parsons School of Design

Website: wwd.com

About:

Millennials are a group of people born between the early 1980s and the early 2000s. They are the future of luxury.

Millennials seek authenticity.
Shutterstock / BigLike Images

As researched by marketing expert Pam Danziger, by 2035, the Millennial generation will become the largest consumption group in the history. They have redefined luxury. Luxury now is more related to experiences to things rather than expensive items. So brands try to create links between luxury items and experiences.

In order to attract Millennials, digital platforms are creating new, interactive experiences every time; designers are going to design interesting and recreational items. The luxury brands that will capture Millennials’ mind will have authentic, original content and are supposed to make unexpected connections in the future.