Luxury by Generation Y

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At the age of real-time, Generation Y has established its own relationship with Luxury, far from the approach of previous generations. The big names of the wine industry must understand this new behavior to create long-term relationship with the Gen Y. Their growing power influences brands that are forced to rethink their marketing and communication strategies. Adieu to “show off”, welcome to the world of authenticity and true luxury !

Indeed, this generation Y wants true values from Luxury brands. They do not want this “masstige” of the 2000s and are fed up with the overuse of the word “Luxury”. They want to “get value for money” because this purchase is a significant investment in itsir budget. They also want transparency from brands and are sensitive to the rarity of the products. They are looking for a unique experience when they go for Luxury.

Like San Pellegrino is doing during the Cannes Film Festival ( they are reinventing the concept of the restaurant ” with a view” with some tables on boats), the unique experience is indeed essential for this generation. All over the world, the Generation Y is eager for a luxury which gives a differentiation, and also sensitive to sustainability. In his latest book “Generation Y and Luxury” Eric Briones wrote that this generation is ultra- informed and knows all the Luxury codes. In a way, what makes them so different from Generation X is that they require brands to have values, true values. And today the challenge of luxury brands – Champagne, Wine or any other products – is to see this new generation take on their story and understand their values.

(Write to Guillaume Jourdan info@vitabella.fr)