Live Trend Briefing: New Luxury Consumers
This is a live trend briefing.
NEW LUXURY CONSUMERS
New customers, new approaches.
Societal and environmental powers have brought us new luxury consumers with an indulgent taste and personal truths on their own definition of luxury. Nouveau tres rice and Ultra High groups introduce us to fresh and radically different members of a new beau monde.
NOUVEAU TRES RICHE
The world’s billionaires are a highly influential (and ever fluctuating) group of about 2,000 globally controlling about 4% of all global wealth. Explore the trends affecting the globe's economic and cultural elite and their newest member archetype, the self-made billionaire. Rising from tech and entrepreneurship backgrounds, new billionaires and millionaires have different views on just about everything - from wealth, to what they consider a luxury, and the social and societal responsibilities of their positions.
Selling to digitally fluent and culturally rich Millennials and Gen Zers introduces new challenges and opportunities for many private luxury brands. Embracing digital and video can assure a competitive future with new luxury consumers and a rising population of Ultra High Net Worth individuals (net worth of $30M+).