Luxury brands are targeting millennial consumers using digital platforms, product diversity and creative storytelling
It takes more than Facebook to reach the new generation of spenders
You know fashion has taken an unexpected turn when Vetements’ slogan hoodies and Gucci’s fur-lined slippers are selling like hot cakes and there’s no sign of slowdown for the couture streetwear which has successfully built a cult-like following among the millennial generation.
Fashion aside, other luxury maisons are also tapping millennial consumers through digital integrations, product diversity and creative ways of storytelling.
“If we are not talking to them now, we are not going to get their attention down the line.”
It’s widely accepted that the millennial generation refers to those who were born between 1990s and 2000. They have grown up together in the rapidly changing digital realm and saw the rise of smartphones and social media.
“The average age of millionaires and billionaires has decreased throughout the world,” Babin adds. “It’s part of the culture which [leads] them to make [significant] purchases [of things] such as high jewellery.”