How are Gen Zers democratizing the concept of luxury?

Virtual consumption:

In a recent survey by McKinsey, almost a third of Gen Zers across APAC spend six hours or longer a day on their phones, a considerably higher number than millennials (22 %) and Gen Xers (10 %). As this is the first generation to be born completely in the internet age, a majority of Gen Zers’ consumption is defined through the way they look at brands on social media and other digital platforms. With a digital-first lifestyle, they make a maximum percentage of their purchases online. What TV ads did for boomers and word of mouth for Gen Xers, influencer marketing does for Gen Zers.

Rentals and Remakes:

Apart from being digitally savvy, Gen Zers are also known as the most conscious consumers. Sustainable, eco-friendly consumption is a must-have for this generation. They share a common commitment to voicing concerns on environmental well-being. Terms like ‘slow fashion’ have gained momentum in a very short period of time.

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