August 31st, 2007 
Fashionista 
Meet the Young Affluents. The generation of 40-and-under consumers – roughly corresponding to the Generation X and Millennial generations – is the “Want-It-All†generation that is coming into affluence with a ravenous appetite for the ‘good life.’ The fresh, unexpected needs and desires of the young affluents will be the most important trend to impact the global luxury market over the next decade and beyond. And savvy marketers need to be poised to meet the demands of this unique new force in the luxury marketplace.
Young affluents – consumers born after 1966 with rapidly rising incomes – will play an increasingly important role in the target market for global luxury marketers over the next ten to twenty years. This is true not just in the United States (with a median age of 36.5 years) or in the European countries (where the median age ranges around 40 years old), but in the developing luxury markets, like Brazil (median age 28.2 years), India (24.9 years) and China (32.7 years), where the population as a whole is more youthful.
Luxury marketers and retailers must ‘think young’ in order to understand the young affluents and to position their brands for the future in the developed and the developing markets. Luxury marketers must understand the unique desires of the young affluents, how they express luxury in their lifestyles today and how they will do so in the future.
What Do the Young Affluents Want and How Does It Differ from the Over 40 Crowd? (more…)
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