After the Yuppies, the Dinks and the Henrys, a new type of consumer profile has emerged on the luxury scene: the Hifi, an acronym for ‘High Incomes, Financially Insecure’. Despite their fragile wallets, these consumers are still able to afford premium items. Here’s how it works.
While old money (a style of dress and lifestyle relative to previous generations), quiet luxury (discreet, non-ostentatious luxury) and Mob Wife (the glamorous, charismatic woman inspired by the popular image of mobster wives) are galvanising young consumers, they all require one essential element: money.
And recently, America has seen the emergence of a new type of customer. These are the ‘High Incomes, Financially Insecure’ (Hifi), a population largely made up of millennials and GenZers who may have high incomes but find themselves in an unstable financial situation, with no reassuring safety net. While these people aspire to a wealthy lifestyle, they don’t feel completely entitled to it.
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Featured photo : © Nicolai Berntsen / Unsplash
