The luxury industry is looking at Millennials to be its leading shoppers. According to a YouGov report, 32% of upcoming luxury consumers—those likely to purchase in the next year—fall within the 25-34-year-old age range and display greater financial optimism compared to other gens. The report also shows 47% of potential luxury buyers are parents or caregivers, with 26% having a minimum household disposable income of $5K. However, luxury studies have been indicating young consumers will take over the market for some time now, while YPulse data shows few are indulging in luxury shopping often. (Business Insider)
📊 YPulse data: Only 16% of 25-29-year-olds say they are buying more expensive things compared to a year ago
