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What is True-Luxury Global Consumer?

May 08, 2019

Boston Consulting Group (BCG) cooperates with Altagamma (Italian luxury industry association) to conduct intensive research on True-Luxury Global Consumer. There is no denying that it also gives us insights into True-Luxury Global Consumer.

Second-hand luxury

In fact, most True-Luxury consumers are interested in buying luxury items that have been used by others (around 60%). The main reason is that they care much about prices. On all categories, the percentage of buying used handbags accounted for 40%. This is followed by clothing. Top 5 second-hand purchased brands including Chanel, Louis Vuitton, Gucci, Burberry and Dior.

Sustainability

At the present age, sustainability is strongly affecting the buying behavior of true-luxury global consumer because of garnering increasing media attention. In fact, about 60% of True-Luxury consumers enjoy brands that care about sustainability. Besides, about 56% educate themselves about the brand approach with social responsibility. The impact of sustainability on purchasing behavior of young generation and Asian consumers is huge.

Luxury casualwear

Another factor that attracts the attention of True-Luxury consumers is luxury casual-wear. The number of people who agreed to switch to a more simple approach accounted for 74%. Among all the luxurious costumes and accessories, sports shoes and jeans have become the main driving force for increasing expected spending.

“True-Luxury Global Consumer Insight”research of BCG / Ph: .abc-luxe.com

Social media and influencers

True-Luxury consumers are greatly influenced by celebrities. Social media and celebrities hold important positions for True-Luxury consumers. In fact, true-Luxury consumers often use social media to interact with luxury brands, fashion bloggers. Besides, The magazine is the main influence lever over Europe and US.

These are the main trends of True-Luxury consumers nowadays!

 

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