In my experience, the communication from a luxury brand normally is not fun. They have the misconception that you must be in your late 30´s to start buying luxe. Forbes recently reported that Gen Z is on track to become the largest generation of consumers by the year 2020, and they account for $29 to $143 billion in direct spending. What does this mean for luxury goods and services?
Is time for brands with this type of heritage to start seeking a better strategy for the future, some of them don’t want to think about it because they see modernity as a threat, and let me tell you something: If you stand still IT IS. Some of the recommendation for these brands is not to be outrageous with the communication. Is kind of standing in between. Finding the perfect balance to attract GenZs* but also do not forget about baby boomers.
Who are GenZs and what do they want? Let me answer this question in a simple way. This generation is the one that was born in Internet, they want to have everything and have it NOW. That doesn’t mean that they don’t care where it came from, on the opposite actually; because of their access to Internet they know how things are made and how they are impacting in the world. So this is the point in which luxury enter.
Baby boomers and Genzies (as I like to call them) both like history, both like specific personalities and both like kind of exclusivity. So, start dividing your own media, start thinking about your readers. Luxury brands most keep up with the changes to keep relevance, before it is too late.