Gen Z and Millennials are fuelling the “accessible luxury” trend. New research from Tink shows that 73% of Millennials and 64% of Gen Z prefer investing in durable, high-quality items when purchasing luxury goods, with sustainability being also an important factor in their decision-making. But these gens’ preference doesn’t mean they’re actually buying lots of luxury products—they still have their (limited) budget in mind. Luxury brands have responded by selling items less expensive as traditional luxury goods, though still above market price—a move now known as “accessible luxury.” (Fashion United)
📊 YPulse data: The top reason European 13-39-year-olds are willing to pay more for a product when it’s “high quality”
