Millennials travel to destinations off the beaten path while working remotely, and document their lives on social media. Experiences make better stories than the items millennials own, whose physical possession restrain them from moving around freely.
A new category of luxury is on the rise. Some call it conscious luxury , others positive luxury, or even humanistic luxury.
The school of neo-minimalism set the underlying tone to the era, both functionally and aesthetically. Material objects became sparse in their lives, but well curated: each and every one incremental of their aspirations – a new wave of memento mori in the height of the digital revolution.Although lavishness seems to be rebounding lately, a formative decade in the millennial life came with internalization of luxury.
With its limited production, carefully sourced materials and respect for craftsmanship, sustainability could be innate to luxury. Missing the exposure that traditional brands obtain, they turned their obscurity into their advantage, linking unobtainability with inside knowledge, sparking the attention of the millennial, and furthermore staying true to the blueprint of luxury.
For the sake of consumer insights, let us focus on the latter, which rests on interpersonal recognition and honor, offering subtle psychological constraints.The ability to choose symbolic value, rather than satisfy practical needs, confirms consumers’ social positions and supports the notion of inequality.
Featured Opinion Conscious Luxury Humboldt University Luxury Luxury Marketing Luxury Retail Sara Bernát Social Inequality Sustainability
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