This new gen approach to luxury stems from our changing world, with a rise in New Majoritiesand a shift away from the polar opposites of ‘high’ and ‘low’ cultures apparent in our Low Luxesummary. Similarly, a more playful approach was also introduced for Gen Y and Z, who look for brands that make a statement and don’t take themselves too seriously. Brands such as Gucci are achieving this with their high fashion memes and awareness of Gen Z values. The other element of luxury discussed at the briefing was the idea of democratic luxury, with brands taking responsibility for their sustainable impacts, philanthropic efforts and inclusivity. New forms of luxury on a personal level, beyond products, also relate to experiential investments; with transformative, localized and bespoke experiences prioritized by luxury travelers. On a daily basis, people have also come to define luxury with the ability to disconnect from technology and reconnect with nature: trends considered under the behavior of ‘regeneration’.
These strands of luxury allow our members to review their work in the context of the insights we draw out. With the changing landscape of luxury, brands would do well to consider new approaches to targeting younger luxe audiences and erring away from traditionally ‘high culture’ and exclusive perspectives.