Millenials are the new target of luxury brands

Millenials are the new target of luxury brands

Connected generation
Hr ReviewLuxury brands are targeting millennials consumers using digital platforms, product diversity and creative of ways storytelling. The millennial generation refers to those who were born between 1990s and 2000. They have grown up in the rapidly changing digital realm and saw the rise of smartphones and social media. The generation is quickly entering its prime in terms of spending power. They are a free-thinking, individualistic generation that’s over 80 million strong. By 2035, Millennials will have the potential to become the largest spending generation in history. Millennials have redefined the term luxury. Luxury no longer refers exclusively to expensive bags, shoes and watches. It now includes experiences like farm-to-table dining and “uber-luxe” travel. Millennials prefer experiences to things. Fashion brands are blurring the lines between luxury items and experiences. Luxury shopping is an experience, that’s the whole point. Digital platforms are creating new, interactive experiences every minute. We can take the exemple of the strategy of the luxury italian brand Gucci. Gucci’s success to its industry-leading internet strategies and how the company has managed to integrate digital connection and the in-store experience The millenials will reshape the luxury market.

 

 

FENJIRO MARIA

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2017-12-14T13:24:23+00:00