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How Can Luxury Brands Prepare For Affluent Millenials? [Headlines]

Retail

As the fastest growing consumer segment in the market, retailers need to learn how to appeal to this group.

Dory Carr-Harris, PSFK

Echo Boomers. Generation Y. Millennials. No matter what you call them, shoppers between 18 to 29 years old are the fastest-growing luxury consumer segment. In 2011, they spent 31% more on luxury purchases than they did the year before, and they did it at full price. Compare that to Baby Boomers, who only saw a paltry 28% growth in spending, and purchased the bulk of their luxury goods on discounted flash-sale sites. Mashable

Retail
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