Millennials. They are capricious, inconsistent, confident, but also curious, conscious and open. And they’re pushing luxury brands to constantly reinvent themselves. With them, we witness another face of our society.
Owing to the fact that have never known a world without the internet, only one where one has access to everything in a matter of two clicks, millennials’ volatile attitudes worry many luxury brands. This generation inherits two characteristics of the generations that precede them: The taste for quality and the attractiveness of an affordable price tag. To put it simply, even if Mum has always bought her cashmere sweaters at Bompard, these millennials will opt for those at Uniqlo; quality creates luxury, not the brand. If luxury houses could till now count on a faithful clientele, they now face individuals who view the word “luxury” with a negative connotation – one that evokes a sense of elitism, snobbery and a feeling of exclusivity, contrary to this generation’s desire for eclecticism and diversity. What millennials look for in a brand is a personal relationship. They filter general advertisements – 28% of them use an advertisement blocker. They want a brand to relate directly to their lifestyle. They want to fall in love with a brand instead of being passive, impressionable consumers. They want to shape the narrative.
THE ERA OF THE CURATOR
This story is from the August 2017 edition of L'OFFICIEL Singapore.
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This story is from the August 2017 edition of L'OFFICIEL Singapore.
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