“Millennials are projected to become the largest segment of the luxury consumer market by 2018-2020,” so understanding how they view luxury is increasingly important. As Ypulse explored in 2014, Millennials are redefining the luxury market to fit their needs. Luxury now can mean rarity, convenience, or an uncommon event, all separate from that age-old notion of pretense. This generation is more interested in showing off who they are than how much they make, the brand on the labels matter less than the story behind the product, and they’re focusing on purity, authenticity, and sustainability. At the same time, these young spenders are “showing a preference for discovering luxuries in a manner that is far more casual, experimental, and fun.” (Campaign)
