Given BCG/Altagamma’s six-year perspective on the true-luxury market, the report identifies six previously transformational trends that have stabilized. Three trends, three opportunities and challenges But more than that, they have a powerful influence in the market and have a different set of values and ideals than even the Millennials.” “By 2020 we estimate that they will drive 8% of true-luxury spend. “Today Gen-Z represents only about 4% of the true-luxury market, but we can’t underestimate them because of their low-purchase rate,” she says. demographic analysis.īut Willersdorf advises that the younger Gen-Z cohort (1993-2001) will have a strong influence on how fast and deep the changes in the luxury market evolve, yet they remain a mystery to many luxury brands. Note: the birth years defining the generational cohorts in this study differ slightly from that common in U.S. Some 130% of market growth in the next seven years will be attributed to the Millennial generation. Today Millennials, those born from 1978-1992, represent only about 32% of spending in the personal luxury market, but by 2025 they are expected to make up 50% of the total market. The global luxury market is predicted to top €1.3 trillion (~$1.5 trillion) by 2025, with experiential luxury growing about 5%, far faster than personal luxury at 3%, with accessories and cosmetics expected to gain the most from 2018-2025.

Pandian stores-27-05-2019