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Introduction
Beyond Badges Luxury badges don’t mean a thing to Gen Y. Their appetite for the next best thing is voracious. Unlike, baby boomers who could cozy up to a luxury brand, Gen Yers don’t want to stay on the same topic. Technology allows them to hunt and gather information making them less likely to stay true to a name—unless the product behind the name captivates them. |
Luxury is evolving. No longer are we talking about the kind of luxury that breeds keeping up with the Joneses, a notion first borne out of trade and fueled by the industrial age. The next generation is quickly leaving that “me too” notion behind.
Consider, Brioni suiting. The privately owned company boasts that its suits take at least 18 hours of work and are hand-stitched. It was recently cited by the Luxury Institute as the leading luxury brand for men’s suiting. It’s a favorite of real estate mogul Donald Trump; it’s appeared in James Bond movies; even John Gotti wore a Brioni. The legacy of luxury is there, but it’s not going to fly with name credentials alone with Gen Y.
For Gen Y, luxury will be less about the privilege of money and conspicuous consumption. With everyone essentially having access to funds via credit cards, the size of one’s wallet matters less than ever. Luxury then becomes a more cerebral experience. Luxury gives you something to think about, something tangible to touch. more
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Additional presentation
Luxury 2008: From Excess to Stealth
Table of Contents
1 Intro: Beyond Badges
2 Beyond Badges (continued)
3 Luxury Verbatims
4 Personas to Plan By
___a The Purists
___b The Guilted Lillies
___c The Passport Posse
___d Brand New Heavies
| "The luxury that we’ve been living with was fueled during the 1980s. Take away the logo, the licensing and the hubris and ask yourself if you still have a product worthy of selling as luxury?" --Tim Stock, managing director, scenarioDNA |
