For Gen Z and Millennials, the idea of luxury is not just about expensive products with classic logos. Rather, they think more about things that make them feel good and help them express their identity. But while young people do want to purchase high-quality luxury items when they can afford it, their budgets and flexible definition of luxury have helped make “dupes” one of the biggest retail trends. So, how can luxury brands showcase their unique value proposition to Gen Z and Millennials?
In this year’s Luxury Report, YPulse reports on how many Gen Z and Millennials have purchased luxury products, and why, what young consumers most want to see from luxury brands, and what brands can do to entice young consumers to buy real luxury over their dupes.
Report length: 22 pages, North America report is based on surveys of 1500 13-39-year-olds in the U.S. and Canada, fielded in July and August 2024. Western Europe report is based on a survey of 2500 13-39-year-olds in the U.K., Italy, Spain, France, and Germany, fielded in July and August 2024
