Gen Z and the rise of luxury

Stylish Gen Z male wearing blue vest and plait jackets from a designer brand.
Published by
Izzy Hall
Published on
June 13, 2024
Last updated
June 13, 2024
A 3D spring illustration

Gen Z and the rise of luxury

Stylish Gen Z male wearing blue vest and plait jackets from a designer brand.
Published by
Izzy Hall
Published on
June 13, 2024
Last updated
June 13, 2024

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If you want to capture Gen Z’s spend in 2024,  you need to keep up with the times. This is a generation that lives online, meaning their likes, dislikes, and spending habits can change overnight.

To win over the hearts and minds of Gen Z, brands must be willing to adapt and develop their strategies and messaging. And there isn’t a sector that this applies to more than luxury. 

Does Gen Z care about luxury brands?

By 2035, it’s predicted that Gen Z will account for 40% of the global luxury goods market. And if luxury brands can capture Gen Z’s attention now, they’ll capture their spending way into the future as they earn more.

Nowadays, we’re seeing luxury brands moving away from their more ‘traditional’ branding, instead embracing values that are important to young people, such as inclusivity, sustainability, and transparency. This is the key to success and Gen Z’s luxury consumption.

How can luxury brands capture Gen Z’s spend?

  1. Take your luxury brand to where Gen is
  2. Build trust - it’s what Gen Z expects, especially when it comes to high-ticket items
  3. Work with creators
  4. Be flexible and innovative when it comes to tech

In this report, we discuss:

  • Gen Z’s luxury shopping habits 
  • The impact the cost-of-living has on Gen Z’s shopping habits 
  • The relationship between Gen Z and luxury brands: How brands can capture their spend
  • How Gen Z is transforming the luxury space: Sustainability focus
  • How luxury brands can capture Gen Z’s spend
  • Successful case studies