Do Millennials care about luxury? It’s a question we have explored, and more high-end brands are asking themselves the same question. The reality is that they have a different interpretation of what luxury means, and what products and purchases can be defined as luxury items. With such a seismic shift happening, some brands are adapting by adding younger models to their campaigns to try to appeal to the new and powerful generation of buyers, others are hoping that technology will help them win over young consumers. Another major change in the category is influence and the element of discovery: Millennials are more willing to try new brands, and “people are moving away from just the big magazines dictating a viewpoint.” (CNBC)
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