What Luxury Brands Do Young Consumers Want to Own?

What are the top luxury brands Gen Z and Millennials want to own? We asked…   While expensive prices are still a barrier to entry, there are clear signs that Gen Z and Millennial shoppers have interest in luxury brands. Last spring, we told you that the hashtag #CheapestThing, which currently has four million views, was trending on TikTok as users showed off the cheapest item they could buy from luxury brands like Chanel, Gucci, Prada, and Hermès. Everything from lip gloss to keychains were featured in users’ videos—and because luxury brands still use fancy and luxury packaging for all their things, it made for “a postable social media moment.” The hashtag shows that these generations are looking for accessible entry points into luxury brands, and YPulse’s recent luxury research found that the majority of 13-39-year-olds say luxury brands should make some affordable items so more people could own them. While they might not be able to afford the highest price items on the menu, so to speak, they...