The 20 Luxury Brands Millennials & Gen Z Most Want to Own

We asked 1000 13-34-year-olds to tell us the luxury brand they want to own most, and ranked their top desired products and labels…

Young consumers today have a shifting definition of luxury, and luxury brands are facing an uphill battle with these young consumers, who don’t automatically think a high-end heritage brand is cool because it has a high price tag, and often value travel and experiences over costly jewelry, shoes, and bags. Conspicuous consumption is also less appealing to the young people who came of age during the Great Recession: according to a recent Ypulse monthly survey, 81% of 13-34-year-olds agree “Showing off expensive things you have bought on social media is not cool.” We’ve also found that Millennials and teens are more drawn to the words "High Quality" and "Durable" when purchasing items and are not as impressed when items are described as "Exclusive" or "Luxury."

But last year, more luxury brands began to make changes to products and marketing to focus in on Millennials and Gen Z. Some are turning to new influencers to form relationships with Millennials and Gen Z before they become the core luxury demographic, while others are embracing accessibility or technology to appeal. And while young consumers might not value luxury brands in the same way previous generations did, they’re not necessarily averse to them: only 30% of 13-34-year-olds say their parents care more about owning luxury brands and products than they do, and 46% say they will feel successful in life when they are able to afford luxury brands and products. To see which luxury brands they actually want, we asked 1000 13-34-year-olds, “What is the luxury brand you most want to own?”* Here are the 20 that were mentioned the most:

*These were open-end response questions to allow us to capture the…

 
 

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The Newsfeed

“There are alleys with street art that I've walked out of my way to take pictures of to share on Snapchat/Facebook.”
—Female, 32, IL

Mattel’s new toy franchise Enchantimals is inspired by Instagram and Snapchat filters. The new line of 14 dolls are all half-animal—think the bunny and deer filters—and each “shares a ritual trait with her animal friend.” Their origin and the YouTube series starring the girls are no doubt a part of Mattel’s “five-pillar strategic plan” to be a more digital brand. Appealing to Millennial parents and their kids has been a tough sell for Mattel, but they’re making moves like changing up Barbie’s body type and asking kids to pick the next big toy on TV to keep up with the next generation. (Kidscreen)

Harry Potter fans, raise your butterbeers up, because this franchise and its fandom will never die. Two more books from the Harry Potter universe are hitting shelves this fall—though they aren’t actually written by J.K. Rowling. Harry Potter: A History of Magic and Harry Potter: A Journey Through A History of Magic are instead both written by the British Library, to coincide with an exhibition dedicated to celebrating the twentieth anniversary of the first book. The two new works will include “exclusive manuscripts, sketches and illustrations from the Harry Potter archive,” to delight serious fans of the series. (USA Today, New York Times)

Restaurants are being designed with Instagrammability in mind. From unicorn foods to neon signs and tile floors with hidden messages, restaurateurs aren’t just tolerating Instagrammers, they’re intentionally acting as “Instagram bait” to earn some free press. And it doesn’t end at Instagrammable design touches. Many restaurants stress having perfect lighting, and one even provides “Instagram packs” at customer request, consisting of “a portable LED light, multi-device charger, clip-on wide-angle lens, tripod, and a selfie stick.” (The Verge, Grub Street)

Some student loan debt is getting “wiped away” in court because of missing paperwork. Students defaulting on their private loans are getting taken to court by aggressive creditors, but as it turns out, many don’t have the required documents to make them pay up. National Collegiate is at the center of many of these trials—one lawyer in Iowa represented 30 cases brought on by them, and 27 were dismissed because of “critical omissions or flaws” in the paperwork. Some Millennials prioritizing paying back debt might just catch a lucky break. (New York Times)

Millennials want older generations to know why they stand by political correctness. While some may despair the overly PC state of the world, many young consumers see political correctness as protection from prejudice, and a show of respect. What some may view as an over-sensitivity epidemic, many Millennials see as “being morally minded.” Ypulse’s PC Police trend tackled this topic, and found half of 13-33-year-olds would describe political correctness as treating others with respect, and 66% agree that political correctness is one way to make culture kinder and more inclusive. (Business Insider)

 “I’m too lazy to exercise on purpose. Too much work…If I can't get it with my dog, my job, or my nightlife, it ain't happening.”
—Female, 23, CA

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