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According to the streetwear blog Highsnobiety, a reference among young people, post-covid luxury consumers want culture.
It should be noted that by 2026, 61% of the luxury market will be monopolised by millennials and Generation Z (against 39% in 2019).
Excellence, yes… but it is not enough.
According to a Highsnobiety report carried out in collaboration with Boston Consulting Group, the behaviour of these two generations following Covid-19 reinforces the importance for brands of the concept of community.
Consumers insist on the bond that brands will establish with them, no longer needing to talk to their customers but rather through them.
Examples include Panerai watchmaking amnesia, which benefits from a close-knit community of Paneristi with a real cult of the brand, or the marketing strategies of more accessible watchmaking brands such as BA111OD, which establish orderly communication with their first customers.
What matters to consumers is the ability of brands to generate passion at the time of the commercial transaction.
Since the 2000s, the Chinese middle class has been one of the most dynamic in the world.
In order to benefit from this audience, it is the responsibility of luxury brands to make themselves desirable through online communities and influencers.
Everything is saleable
At the same time, Generation Z prefers to shop in boutiques around the world because of the peer-to-peer sociability they allow.
According to the report, members of Generation Z devote most of their shopping experience to seeking inspiration, or even inspiring others, rather than to the act of buying itself.
This is why Louis Vuitton hired Virgil Abloh to bring his own creative vision to the House, but also to establish links with the communities on which it builds its reputation.
It is therefore understandable why, in the fashion industry, certain objects that were once perceived as a “simple support” for merchandising or packaging are now increasingly sought after, or even resold on the second-hand market.
Thus, in the world of Fine Watchmaking, the notices, booklets or even leaflets of the time are now sold online for a few hundred dollars or euros depending on the rarity of the object.
Read also > LUXURY: HOW TO TARGET GENERATION Z ACROSS CULTURES ?
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According to the streetwear blog Highsnobiety, a reference among young people, post-covid luxury consumers want culture.
It should be noted that by 2026, 61% of the luxury market will be monopolised by millennials and Generation Z (against 39% in 2019).
Excellence, yes… but it is not enough.
According to a Highsnobiety report carried out in collaboration with Boston Consulting Group, the behaviour of these two generations following Covid-19 reinforces the importance for brands of the concept of community.
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According to the streetwear blog Highsnobiety, a reference among young people, post-covid luxury consumers want culture.
It should be noted that by 2026, 61% of the luxury market will be monopolised by millennials and Generation Z (against 39% in 2019).
Excellence, yes… but it is not enough.
According to a Highsnobiety report carried out in collaboration with Boston Consulting Group, the behaviour of these two generations following Covid-19 reinforces the importance for brands of the concept of community.
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