Who said that luxury was the territory of Boomers? The latest report released by payment services company Klarna reveals that even more than the older generations, buyers from these generations have taken a major turn towards purchasing luxury items in the past year
Millennials and Gen Z are increasingly turning to luxury.
Image: Carlo Prearo / Shutterstock
We knew that Generations Y and Z had become prime targets for the major luxury labels, but a study reveals that even more than the older generations, buyers from these generations have taken a major turn towards purchasing luxury items in the past year. And these younger consumers bring new expectations to these brands, especially in terms of new technologies and sustainability.