After financial setbacks brought on by the pandemic, young consumers’ interest in luxury is ramping back up. But with price still a barrier to entry, Gen Z and Millennial shoppers want luxury brands to be more accessible—and more contemporary. In this report, we take a closer look at young consumers’ shopping priorities right now, their attitudes towards the luxury industry, and how they feel about luxury brands focusing on affordability and accessibility.
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- Gen Z and Millennials current interest in luxury, and how many are buying luxury now
- How young consumers are planning to spend money this year compared to last
- Young consumers' preference for accessibility and relatability—and how brands are responding
North America report on a survey of 1450 13-39-year-olds in the U.S. and Canada, fielded in October 2021. Western Europe report on a survey of 1300 13-39-year-olds in the U.K., France, Germany, Spain, and Italy, fielded in October 2021.
Additional survey content for Pro users: the most expensive thing young consumers have purchased this year, the luxury brands they most want to own, the characteristics they associate with luxury, the types of luxury products they’ve purchased, and the types they want to own.
Survey content for pro users also includes data split by the following demographics: Gender, Generation, Gender & Generation, Age Groups, Academic Status, Race, BIPOC, Country, Urban/Rural Status, and Parent.