At this time when retail don’t stop evaluating, a new challenge waiting for Luxury brands: Generate desire and engagement from the Gen Z.
Generation Z is the demographic cohort following Generation Y. The dates given for Generation Z range from the mid-1990s through the second decade of this century. They are very volatile and want sincerity, authenticity and transparency from the brand. Moreover, the marketing of luxury brands with icons doesn’t speak to them anymore, they look more like the previous generation. Even 60% of them prefer to buy a product than live an experience, while the proportion was reverse for the generation Y. So, this new generation is more traditional, they want to work hard to deserve their money and spend it reasonably. Their appetite for luxury brands promised to be bigger than the previous generation.
But to reach them Luxury brands must to propose a real added value: like an original offer, retailtainment, or personalize advice. It’s a generation who likes to feel unique, and in pursuit of human contact, the sale consultant is then very important in the purchase decision. Furthermore, Luxury brands have to invest in science and technology to engage the gen Z without lost their authenticity and heritage.