Luxury: how are the young, affluent generations getting to grips with it?

A study commissioned by the Comité Colbert and Media Figaro reveals the similarities and differences between the approach to luxury of the younger generations of French, American and Chinese consumers, who have considerable purchasing power, and that of their elders.

 

Luxury may be associated with notions of durability, but its perception evolves from one generation to the next… However, there are also a number of points in common, particularly when it comes to the qualities attributed to this universe.

 

A recent study on the relationship between young French, American and Chinese people with good purchasing power and luxury goods, carried out by the Le Figaro group’s advertising agency, Sociovision and Brain Value (subsidiaries of the IFOP group), is highly instructive in this respect.

 

Commissioned by the Comité Colbert, the association of French luxury houses, and Media Figaro, the survey sought to shed light on two major questions: “How is luxury transmitted within this generation, which is growing up under the increasing influence of social networks? And what values does the younger generation embody today?”

 

A two-part study

 

To answer these questions, the study was divided into two parts. The first, quantitative, consisted of asurvey of 400 young people aged 20 to 35 per country, i.e. in France, the United States and China, belonging to the top 7% of the wealthiest population in each country. A total of 1,200 people responded.

 



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Read also > [INTERVIEW] BÉNÉDICTE EPINAY (COMITÉ COLBERT) “LUXURY IS THE OLDEST SECTOR WITH A FUTURE”

Featured Photo: © Getty Images/Unsplash

Picture of Sophie Michentef
Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

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