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Investigación · The New Ways of Luxury

The New Ways of Luxury

Explore the core values and primary interests of Gen Z, and learn how luxury brands can effectively connect with them.

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The luxury industry is thriving, and after a successful 2022, the market is expected to reach 305 billion euros in 2023.

The perception of luxury is fast-changing among Gen Z, which is posing a significant challenge for luxury brands. At the core, the luxury industry has very conventional values while Gen Z is breaking previously established ideas.

What is Gen Z and what do they value?

Gen Z has two unique behaviors:

They prioritize and crave authenticity
They rely on digital channels to interact, meet, and connect with others

Keeping up with changing audience interests

Gen Z’s spending alone is set to grow 3x more than any other generation in the market.

Luxury brands need to change their marketing approach to reach Gen Z, or they risk losing immense profits by disregarding the interests of younger generations.

Where Gen Z meets Luxury

Territory one: Experiences

Key topics: Wellness, Ethical, Green

+65%

affinity with luxury when the content is related to Experiences

Territory two: Environment

Key topics: Nature, Organic, Vegan

+52%

affinity with luxury when the content is related to Environment

Territory three: Digital World

Key topics: Accessories, Customization, AR and VR

+31%

affinity with luxury when the content is related to the Digital World

Territory four: Timelessness

Key topics: Vintage, Second-hand, Sustainability

+160%

affinity with luxury when the content is related to Timelessness

The results

1.5x

more population below 24 years than traditional luxury

1.23x

more population below 34 years than traditional luxury

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