Data experts Kantar and Altiant have deciphered the expectations of affluent luxury customers, particularly those under the age of 35. Experiential luxury – with the rise of practices such as sharing and second-hand goods – confirms its ascendancy at the expense of material possession.
Experience is a rising value in luxury… We already knew this, but this evolution is detailed in a very instructive way by two experts in consumer analysis.
Kantar and Altiant have thus combined their expertise to better understand the aspirations of luxury customers, and in particular, the younger generations of “Affluents” and HNWIs (High Net Worth Individuals), from four key countries for the sector: France, the United States, China and the United Arab Emirates.
Affluents and HNWIs
A small clarification: an Affluent is a “person” “with a high income and substantial assets, allowing them regular access to premium or luxury goods and services”. They are thus distinguished both from aspirational customers (less well-off, but aspiring to luxury) and from the “ultra-rich” such as HNWIs (High Net Worth Individuals), whose investable assets exceed 1 million dollars.
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