Curated upon their century-old heritage and wide brand recognition, luxury houses have blessed us with grace and sophistication. Nonetheless, with the new generation becoming more eco-conscious and individualistic, young people are asking for more and different ideas from luxury brands.
This might come as a surprise, but the consumption base for luxury products has shifted towards a younger demographic.
When it comes to China specifically, luxury consumers who are under 30 years old are accountable for 48% of the luxury consumption in the country. This is not surprising given that millennials and Gen Z in China earn 50% of the nation’s disposable income.
Young consumers have high purchasing powers, and they are mainly looking for luxury clothing, jewelry and shoes, with over 50% of them buying these products annually. Jewelry and bags, on the other hand, are more popular among mature consumers.
Eco-friendly luxury as a trend
Young people are aiming to be more eco-friendly when it comes to shopping for luxury goods, which is all for the good.
It has long been known that fast fashion is harming the environment and luring people into unhealthy consumption habits.
The amount of consumer goods produced by the fashion industry is too excessive to overlook. Their detrimental environment impact is also widely studied. The chain of the textile industry is complicated, and the use of raw materials, textile manufacturing, textile transportation and retail sales together give rise to massive pollution and waste every year.
This why a timeless and long-lasting item can create positive impact in this regard.
Instead of a low-quality item suffering from fast depreciation, a durable piece will last longer and save one the trouble of repurchasing new items.
On top of the cycle of production, the young generation is also seeking for sustainable materials when it comes to luxury goods. The materials need to be pliable and sturdy, and importantly, ethically sourced.
For our eco-friendly customers, Maison Septem uses lab-developed synthetic diamonds and vegan leather to decorate digital devices. Synthetic diamonds triumphs natural diamonds in a way that the production process does not severely damage the environment and yet in terms of texture and appearance they are no different from traditional diamonds.
Seeking for experience rather than only products
The meaning of luxury might be nuanced for different people. Is luxury defined by tangible goods or splendid experiences?
It is becoming increasingly individualistic to characterize luxury, and it suffices to say that young people are fascinated by the experience and social implications that come with high-class items.
Luxury brands not only pride themselves on the quality of their products, but also aim to provide consumers the ultimate experience of affluence during and after the purchase.
Here at Maison Septem, we ensure an all-embracing caring experience for each and every one of our customers.
They like to gauge information online
There is no doubt that young people are easily influenced by internet trends and popular influencers online.
Compared to blatant sponsorships, products organically advertised by influencers are more appealing to young people. Young consumers will be more likely to click on the affiliate links under an influencer post than following traditional ad campaigns.
At the same time, rather than directly buying from the Internet, consumers will gather relevant information online and still go to the physical stores to make luxury purchases, enjoying the luxury service experience.
The search for quality and individualism
The reason why more and more young people are stepping away from conventional luxury brand house names is because they are lacking in the ability to reflect individualistic characters.
On top of this, traditional luxury brands are more associated with the older generation, thus deemed as less trendy by young people.
An increasing number of mainstream consumers is choosing luxury goods for personal reasons. The intention to "show off" has been pushed to the side, while the main motivation for the purchase has become "treating yourself better with a higher-quality life".
Therefore, bespoke designs are becoming more captivating to millennial consumers.
Maison Septem offers you a personalized experience every step of the way from the birth of your dreamed digital device to the finished product. We incorporate your tastes and preferences into crafted pieces individualized for you.