In a recent study, we found that 63% of 13-33-year-olds think that “luxury” is a feeling, not a thing—a concept that will become crucial to brands in the years to come, as Millennials begin to outnumber Baby Boomers as luxury goods consumers.

In a recent study, we found that 63% of 13-33-year-olds think that “luxury” is a feeling, not a thing—a concept that will become crucial to brands in the years to come, as Millennials begin to outnumber Baby Boomers as luxury goods consumers. These younger shoppers could be tricky for high-end brands to pin down: they’ll likely delay big ticket spending due to their financial struggles while coming of age, and, as we’ve reported, won’t “aspire to the same luxury as previous generations.” (MediaPost)