For Gen Z (and even younger Millennials), luxury doesn’t just mean designer price tags—it’s all about the experience and emotion behind the buy. In fact, YPulse’s Luxury report shows 69% of 13-39-year-olds agree, “Luxury is a feeling, not a thing.” Young consumers see “luxury” as anything that lets them treat themselves, whether that means splurging on designer, scoring a secondhand treasure, or snagging a limited-edition collab from a brand their parents would never think of as high-end. Their relationship with luxury is shaped as much by affordability and accessibility as it is by aspiration. That means for some, a new...